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Effective practices in crisis resolution and the case of Sweden
The current financial crisis is a painful reminder that the developed world is not yet immune to these devastating shocks. But while we haven?t learned to prevent them, we have learned some lessons about what is necessary to contain them once they begin and to limit the damage that follows. As policymakers worldwide focus on resolving the current financial crisis, they might look to Sweden as a useful model for effective strategies.
On the resolution of financial crises: the Swedish experience
Sweden was one of the Scandinavian countries experiencing a severe financial crisis In the late 1980s and early 1990s. I review the policy choices and external factors that pushed the countrys financial system over the edge and then examine the steps the government took to make its resolution of the crisis one of the most successful in the past 30 years.