If we believe that the small, open economies of Nordic Europe are
paragons of good governance, why are they so prone to economic
crisis? In Good Governance Gone Bad, Darius Ornston provides
evidence that adapting flexibly to rapid, technological change and
shifting patterns of economic competition may be a great virtue,
but it does not prevent countries from making strikingly poor
policy choices and suffering devastating results. Home to three of
the "big five" financial crises in the twentieth century, Nordic
Europe in the new millennium has witnessed a housing bubble in
Denmark, the collapse of the Finnish ICT industry, and the
Icelandic financial crisis. Ornston argues that the reason for
these two seemingly contradictory phenomena is one and the same.
The dense, cohesive relationships that enable these countries to
respond to crisis with radical reform render them vulnerable to
policy overshooting and overinvestment. Good Governance Gone Bad
tests this argument by examining the rise and decline of heavy
industry in postwar Sweden, the emergence and disruption of the
Finnish ICT industry, and Iceland's impressive but short-lived
reign as a financial powerhouse as well as ten similar and
contrasting cases across Europe and North America. Ornston
demonstrates how small and large states alike can learn from the
Nordic experience, providing a valuable corrective to uncritical
praise for the "Nordic model."
General
Imprint: |
Cornell University Press
|
Country of origin: |
United States |
Series: |
Cornell Studies in Political Economy |
Release date: |
October 2018 |
First published: |
2018 |
Authors: |
Darius Ornston
(Assistant Professor)
|
Dimensions: |
229 x 152mm (L x W) |
Format: |
Hardcover
|
Pages: |
276 |
ISBN-13: |
978-1-5017-2610-1 |
Categories: |
Books >
Business & Economics >
Economics >
Political economy
|
LSN: |
1-5017-2610-2 |
Barcode: |
9781501726101 |
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