01870cas a2200253 a 4500 AALejournalIMF008907 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848113 1018-5941 BD-DhAAL BD-DhAAL Drees, Burkhard. The Nordic Banking Crises : Pitfalls in Financial Liberalization? / Burkhard Drees, Ceyla Pazarbasioglu. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (70 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the recent banking crises in Finland, Norway and Sweden in an attempt to draw some policy conclusions from their experiences. In all three countries, the timing of deregulation coincided with a strongly expansionary macroeconomic momentum. Delayed policy responses, as well as structural characteristics of the financial systems, and banks' inadequate internal risk management controls were important determinants of the consequences of the transition from tightly regulated to more or less competitive financial systems. In the absence of strengthened prudential banking supervision, these incentives coupled with expectations of government intervention in the event of a crisis prompted many Nordic banks to increase their lending excessively. Mode of access: Internet Pazarbasioglu, Ceyla. IMF Working Papers; Working Paper ; No. 1995/061 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/061/001.1995.issue-061-en.xml IMF e-Library