Iceland's Financial Crisis In 2008 : Political, Economic and Social Consequences

• Autorzy: Agnieszka Joanna Legutko
• Języki publikacji: EN

Abstrakty

EN

The author analyzes the successful strategy of overcoming financial breakdown in the case study of Iceland. The aim of the article is to verify a hypothesis that the Icelandic model could become a panacea for future crises? A document analysis method is applied to present essential indicators such as GDP and trade balance. With the use of a source analysis method, the collapse of the financial sector is determined as the main cause of the slump. The systematization of crisis events is introduced and deepened by the social and political situation. Changes in the state's condition after the crash are provided and future forecasts about economic development are discussed. As a summing up, the author disapproves of the hypothesis that the Icelandic model of overcoming the financial breakdown as a panacea for future crises, pointing out that it is only applicable for specific cases and cannot be seen as a magical remedy for every kind of crisis.(original abstract)

Słowa kluczowe

EN

Economic crisis; Banking crisis; Economic situation

PL

Kryzys gospodarczy; Kryzys bankowy; Sytuacja gospodarcza

• Czasopismo: International Studies : Interdisciplinary Political and Cultural Journal
• Rocznik: 2017
• Tom: 20
• Numer: nr 1
• Strony: 113--130

Twórcy

autor

Agnieszka Joanna Legutko

• Cracow University of Economics, Poland

Bibliografia

• Adamczyk M., Współczesny kryzys finansowy - przyczyny i konsekwencje dla gospodarki światowej. Web. 28 June 2016, <https://ekonom.ug.edu.pl/web/download.php?OpenFile=930>.
• BBC News [2009]. Timeline: Iceland economic crisis. Web. 28 June 2016, <http://news.bbc.co.uk/2/hi/europe/7851853.stm>.
• BBC News [2011]. UK 'disappointment' as Iceland rejects repayment deal. Web. 28 June 2016, <http://www.bbc.co.uk/news/world-europe-13022524>.
• Budyta-Budzyńska M., Islandzki kryzys finansowy, a strategie adaptacyjne Polaków na Islandii, Web. 28 June 2016, <http://migracje.civitas.edu.pl/Images/Pdfy/Islandzki kryzys finansowy a strategie adaptacyjne.pdf>.
• Central Bank of Iceland. Web. 28 June 2016, <http://www.cb.is/the-bank/about-the-central-bank/>.
• Danielsson J., The first casualty of the crisis: Iceland London School of Economics, [in:] Centre for Economic Policy Research The First Global Financial Crisis of the 21st Century Part II June - December 2008. Web. 28 June 2016,

Identyfikatory

DOI

10.1515/ipcj-2017-0020