An anatomy of financial crises in Norway, 1830-2010
Journal article, Peer reviewed
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Original versionGrytten, O. H., & Hunnes, A. (2014). An anatomy of financial crises in Norway, 1830-2010. Financial History Review, 21(1), 25-57. doi: 10.1017/S0968565013000279 10.1017/S0968565013000279
On the basis of a novel dataset, the article investigates the anatomy of financial crises in Norway from 1830 to 2010. First, nine significant crises are identified. Second, the article examines spillover effects on the real economy. We find a clear but not symmetric relationship. Third, the article investigates key patterns in credit and money volumes. Major financial crises typically occurred after substantial money and credit expansion, causing financial instability.
Author's version of an article in the journal: Financial History Review. Also available from the publisher at: http://dx.doi.org/10.1017/S0968565013000279