Island as the First Sacrifice of the Global Crisis

Authors

  • Наталия Петровна Кузнецова St. Petersburg State University, 7–9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation https://orcid.org/0000-0002-3612-9127

Abstract

The article deals with causes and consequences of the global financial crisis in the small-scaled economy of Iceland which appeared to be its first victim. The author investigates the mechanism of crisis in Iceland, where the Government was too slow in tightening state regulation in the financial sector. The country happened to be a bankrupt due to the liberal model of regulation and high interest rate causing high level of investments up to the credit and mortgage crises development.

Keywords:

global financial crisis, state regulation, development

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Author Biography

Наталия Петровна Кузнецова, St. Petersburg State University, 7–9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation

доктор экономических наук, профессор

References

Литература на русском языке

Кочетков А. ИА «РосФинКом». 09.10.2008.

Сапир Ж. Империализм экономической науки. Размышления о современном состоянии экономической мысли и ее взаимоотношениях с общественными науками. URL: info@eurofinanceweek.com (дата обращения: 02.03.2009).


References in Latin Alphabet

Economic Forecast. February 2008. P. 25.

http://www.expert.ru/news/2008/12/02/island_bank (дата обращения: 02.03.2009).

Icelandic Economic Analysis. URL: http://www.kaupthing.com/Pages/812?NewsID=3713 (дата обращения: 02.03.2009).

Oxford Economics. Forecasting and Analysis. URL: http://www.oxfordeconomics.com (дата обращения: 02.03.2009).

Post-autisticEconomicsReview. URL: www.paecon.net (дата обращения: 02.03.2009).

Saettele J. Euro tests support; make or break time. 2009. 12 February (forex.com).

URL: http://de.youtube.com/watch?v=LLi4_eQtbhM&eurl=http://www.sueddeutsche.de/wirtschaft/210/449934/text (дата обращения: 02.03.2009).

URL: http://worldcrisis.ru (дата обращения: 02.03.2009).

URL: www2.standardandpoors.com (дата обращения: 02.03.2009).


Translation of references in Russian into English

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Published

2009-06-30

How to Cite

Кузнецова, Н. П. (2009). Island as the First Sacrifice of the Global Crisis. St Petersburg University Journal of Economic Studies, (2), 020–024. Retrieved from https://economicsjournal.spbu.ru/article/view/3323

Issue

No. 2 (2009)

Section

The Global Financial and Economic Crisis: Causes and Consequences

License

Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.

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