Managing the Financial Crisis

Abstract

In this chapter the management and administrative consequences of the financial crisis are examined. The focus is on the response of the Nordic countries, which emerged from the 2008–2009 economic crisis relatively unscathed, except for Iceland. The study concentrates on how the crisis affected the agenda of administrative reforms, how it affected administrative structures and whether it proved a favorable opportunity for reforms. The results indicate that the deeper the impact of the crisis, the more targeted the approach, although country specific factors played a role as well. A deep crisis contributes to centralization but does not present conducive circumstances for successful reforms. The analysis indicates that country and region-specific factors played a role in crisis response, along with the severity of the crisis. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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