Three assessments of Finland's economic crisis and economic policy:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Helsinki
Bank of Finland
1993
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | 224 S. graph. Darst. |
| ISBN: | 9516863752 |
Internformat
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| 245 | 1 | 0 | |a Three assessments of Finland's economic crisis and economic policy |c Christian Bordes ; David Currie ; Hans Tson Söderström |
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Datensatz im Suchindex
| _version_ | 1804124805377556480 |
|---|---|
| adam_text | Contents
Page
Prefece 5
The Finnish Economy:
The boom, the debt, the aisis and the prospects
by Christian Bordes 9
The Finnish Economic Crisis:
Analysis and prescription
by David Cunie 95
Finland s Eoonotnic Crisis:
Causes, present nature, and polky options
by Hans Tson Södentröm 13S
Authon 223
The Finnish Economy:
The boom, the debt, the crisis and
the prospects
Christian Bordes
Professor, University of Bordeaux (I)
Contents
Foreword 11
Introduction, Summary and Main Recommendations 12
The prelude to the crisis 12
The crisis 13
The post crisis regime 13
1 The Prelude to the Crisis (1984 1988) 18
1.1 Introduction 18
1.2 The financial liberalisation shock 19
1.2.1 The traditional system and pressures for changes 19
1.2.2 The internal financial liberalisation 20
1.2.3 The external financial liberalisation 20
1.2.4 Assessment 21
1.3 The impact on demand 24
1.3.1 The fall in the saving rate 24
1.3.2 Inflation in asset prices, wealth and saving 25
1.3.3 Tax debt incentives 28
1.3.4 The effect of the improvement in Finnish
terms of trade 31
1.4 The macroeconomic implications and the response
of the authorities 34
1.4.1 The macroeconomic implications of
the financial liberalisation 34
1.4.2 The monetary fiscal policy stance 35
1.4.3 Explaining the fiscal policy stance 37
2 The Crisis (1989 1992) 39
2.1 Introduction 39
2.2 The asset markets crash 40
2.2.1 The tightening of monetary conditions 40
2.2.2 The fall in asset prices 42
2.2.3 The revaluation of the markka 43
2.3 The impact on the personal and the banking sectors 44
2.3.1 Increasing financial fragility and distress
in the personal sector 44
2.3.2 Deteriorating performance in the banking sector 47
2.3.3 The interest rate trap and the deterioration
of interest margins 49
2.3.4 The exposure to credit risk and the deterioration
of the quality of banks assets 50
2.4 The hard landing of the real economy 52
2.4.1 The response of the banking system 52
2.4.2 The response of households 54
2.4.3 The collapse of foreign trade with Soviet Union
and Eastern Europe 55
2.4.4 Impact on the corporate sector 56
2.4.5 The failure of the hard currency option 59
3 The Post Crisis Regime (1992 ) 60
3.1 Introduction 60
3.2 Transitory favourable factors for the recovery 61
3.2.1 The depreciation of the markka 61
3.2.2 Wage moderation 64
3.2.3 A moderate inflation 65
3.2.4 The end of the recession and conditions
for the recovery 65
3.3 Economic policy for the adjustment 70
3.3.1 The necessity of a shift in fiscal policy 70
3.3.2 A credible fiscal programme 73
3.3.3 Privatisation and the adjustment of public finances 75
3.3.4 The implications of the pursuit of the wage
agreement for monetary policy 76
3.4 The return to a fixed exchange rate regime 80
3.4.1 Is floating the optimum r6gime for Finland?
A look back to Finnish history 80
3.4.2 The limits of devaluation in the contemporary
Finnish economy 82
3.4.3 The inappropriateness of the current regime
for the long term 84
3.4.4 A Nordic Monetary System? 86
3.4.5 Joining the EMU? 87
Appendix 88
References 91
10
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| id | DE-604.BV010381205 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T17:51:30Z |
| institution | BVB |
| isbn | 9516863752 |
| language | English |
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| spelling | Three assessments of Finland's economic crisis and economic policy Christian Bordes ; David Currie ; Hans Tson Söderström Helsinki Bank of Finland 1993 224 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier 1980-luku ysa 1990-luku ysa lama ysa laskusuhdanne ysa suhdannevaihtelut ysa taloudellinen kehitys ysa taloudelliset kriisit ysa talous ysa talouspolitiikka ysa velkaantuminen ysa Wirtschaftskrise (DE-588)4066466-1 gnd rswk-swf Suomi ysa Finnland (DE-588)4017243-0 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content Finnland (DE-588)4017243-0 g Wirtschaftskrise (DE-588)4066466-1 s DE-604 Bordes, Christian Sonstige oth Currie, David Sonstige oth Söderström, Hans Tson 1945- Sonstige (DE-588)170069427 oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006911168&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Three assessments of Finland's economic crisis and economic policy 1980-luku ysa 1990-luku ysa lama ysa laskusuhdanne ysa suhdannevaihtelut ysa taloudellinen kehitys ysa taloudelliset kriisit ysa talous ysa talouspolitiikka ysa velkaantuminen ysa Wirtschaftskrise (DE-588)4066466-1 gnd |
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| title | Three assessments of Finland's economic crisis and economic policy |
| title_auth | Three assessments of Finland's economic crisis and economic policy |
| title_exact_search | Three assessments of Finland's economic crisis and economic policy |
| title_full | Three assessments of Finland's economic crisis and economic policy Christian Bordes ; David Currie ; Hans Tson Söderström |
| title_fullStr | Three assessments of Finland's economic crisis and economic policy Christian Bordes ; David Currie ; Hans Tson Söderström |
| title_full_unstemmed | Three assessments of Finland's economic crisis and economic policy Christian Bordes ; David Currie ; Hans Tson Söderström |
| title_short | Three assessments of Finland's economic crisis and economic policy |
| title_sort | three assessments of finland s economic crisis and economic policy |
| topic | 1980-luku ysa 1990-luku ysa lama ysa laskusuhdanne ysa suhdannevaihtelut ysa taloudellinen kehitys ysa taloudelliset kriisit ysa talous ysa talouspolitiikka ysa velkaantuminen ysa Wirtschaftskrise (DE-588)4066466-1 gnd |
| topic_facet | 1980-luku 1990-luku lama laskusuhdanne suhdannevaihtelut taloudellinen kehitys taloudelliset kriisit talous talouspolitiikka velkaantuminen Wirtschaftskrise Suomi Finnland Aufsatzsammlung |
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