Abstract
The 2008 global financial crisis originated in the financial markets before gradually spilling over into the real economy through confidence fallout, capital outflows, reducing consumption, and decreasing export demands. It was rooted in the interplay of weaknesses in financial markets and macroeconomic imbalances in the international economy. As a result, many international banks needed financial support to survive or to maintain normal lending activity. In the Nordic countries it was primarily Icelandic banks that had operated with high risk, thus affecting its neighboring countries as well as the UK and the Netherlands to a greater degree. No country integrated into the global economy was left unaffected by this financial crisis; Nordic countries reported in this volume are therefore no exception.
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Lin, C.YY., Edvinsson, L., Chen, J., Beding, T. (2014). Impact of the 2008 Global Financial Crisis. In: National Intellectual Capital and the Financial Crisis in Denmark, Finland, Iceland, Norway, and Sweden. SpringerBriefs in Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-9536-9_2
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