Talk:Finnish banking crisis of 1990s

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A disclaimer is in order: since there do not seem to be any Austrian-leaning resources at the moment, the page is made based on other, more mainstream resources. That means in some places rather creative selection of text. (Especially of what ended up to be the primary resource - Peter Nyberg's and Vesa Vihriälä's "The Finnish Banking Crisis and Its Handling" - the authors seem to consider deregulation to be the main problem behind the crisis.) Be forewarned and enjoy. Pestergaines 13:27, 28 June 2011 (MSD)

Don't know if prof. Honkapohja is Austrian or not, but the description of the Finnish banking crisis here (as of June 8th 2015) seems to be a bit flawed and missing some aspects, I would recommend his 2009 publication ( on the Nordic banking crisis. Also following items (picked from Honkapohja's references list) could be worth reading:

  • Drees - Pazabasioglu (1998). The Nordic banking crisis - pitfalls in financial liberalization, IMF occasional paper no 161.
  • Englund (1999). The Swedish banking crisis - roots and consequences, Oxford review of economic policy, 15:3, 80-97.
  • Englund - Vihriälä (2003). Financial crisis in developed economics - the cases of Finland and Sweden, Pellervo Economic Research Institute working paper no 63.
  • Honkapohja - Koskela (1999). The economics crisis of the 1990s in Finland, Economic policy, 29, 401-436.
  • Honkapohja - Koskela - Leibfritz - Uusitalo (2008). Economic prosperity recaptured - the Finnish path from crisis to fast growth, MIT Press
  • Koskenkylä (2000). The Nordic countries' banking crisis and the lessons learned, Bank of Finland Financial Markets Department working paper 6/00.
  • Möller - Nielsen (1995). Some observations on the Nordic banking crisis - a survey, Copenhagen business school Institute of Finance working paper 95-8.
  • Vihriälä (1997). Banks and the Finnish credit cycle 1986-1995, Bank of Finland studies E7.

Also Steigum (2004). Financial deregulation with a fixed exchange rate - lessons from Norway's boom-bust cycle and banking crisis, in More-Solheim-Vale (eds) The Norwegian banking crisis, Bank of Norway occasional papers No. 33.