A Chronology of Financial Crises for Norway

37 Pages Posted: 5 Jun 2010

See all articles by Ola Honningdal Grytten

Ola Honningdal Grytten

Institutt for samfunnsøkonomi / Department of Economics Norges Handelshøyskole / Norwegian School of Economics

John A. Hunnes

University of Agder - School of Business and Law

Date Written: May 28, 2010

Abstract

The paper offers a chronology of financial crises in Norway from her independence in 1814 till present times. Firstly, business cycles, covering almost two hundred years of economic history are mapped. These reveal years of crises in the real economy. These seem to coincide with most of the major financial crises. Secondly, the paper the financial crises are described chronologically. Thirdly, the paper investigates key patterns in credit and money volumes. It concludes that major financial crises typically took place after substantial money and credit expansion causing financial instability, loss of long term equilibriums, overheating and bubbles followed by severe meltdowns in the economy.

Suggested Citation

Grytten, Ola Honningdal and Hunnes, John Arngrim, A Chronology of Financial Crises for Norway (May 28, 2010). NHH Dept. of Economics Discussion Paper No. 13/2010. Available at SSRN: https://ssrn.com/abstract=1620393 or http://dx.doi.org/10.2139/ssrn.1620393

Ola Honningdal Grytten (Contact Author)

Institutt for samfunnsøkonomi / Department of Economics Norges Handelshøyskole / Norwegian School of Economics ( email )

Helleveien 30
N-5035 Bergen
Norway

John Arngrim Hunnes

University of Agder - School of Business and Law ( email )

Norway
47 38 14 15 14 (Phone)

HOME PAGE: http://sites.google.com/site/ahunnes/

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