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An anatomy of financial crises in Norway, 1830–2010

Published online by Cambridge University Press:  14 February 2014


Ola Honningdal Grytten
Affiliation:
Norwegian School of Economics
Arngrim Hunnes
Affiliation:
University of Agder
Corresponding

Abstract

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.


Type
Articles
Copyright
Copyright © European Association for Banking and Financial History e.V. 2014 

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