Good governance gone bad : how Nordic adaptability leads to excess / Darius Ornston.

Format:

Book

Author/Creator:

Ornston, Darius, 1978- author.

Series:

Cornell studies in political economy.

Cornell studies in political economy

Language:

English

Subjects (All):

States, Small--Economic policy.

States, Small.

Scandinavia--Economic policy.

Scandinavia.

Europe--Economic policy.

Europe.

Scandinavia--Economic conditions--21st century.

Europe--Economic conditions--21st century.

Physical Description:

1 online resource (276 pages).

Edition:

1st ed.

Place of Publication:

Ithaca ; London : Cornell University Press, 2018.

Language Note:

In English.

Summary:

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."

Contents:

Introduction : the Nordic paradox

Good governance gone bad : the politics of overshooting in Nordic Europe

Manufacturing a crisis : the politics of planning in Sweden

Connecting people : the politics of innovation in Finland

From banking on fish to fishy banks : the politics of liberalization in Iceland

Contrasting cases : Austria, Switzerland, Greece, and Portugal

Overshooting outside of Nordic Europe : Ireland and Estonia

Conclusion : lessons for large states.

Notes:

Previously issued in print: 2018.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

9781501726125

1501726129

9781501726118

1501726110

OCLC:

1031049776