National Intellectual Capital and the Financial Crisis in by Carol Yeh-Yun Lin, Leif Edvinsson, Visit Amazon's Jeffrey

By Carol Yeh-Yun Lin, Leif Edvinsson, Visit Amazon's Jeffrey Chen Page, search results, Learn about Author Central, Jeffrey Chen, , Tord Beding

In the 1st decade of the twenty-first century, the most important occasion of globally percentage was once the 2008 international monetary predicament, which was once prompted basically via useless governance, failed surveillance platforms, and implementation flaws. whereas economic and fiscal regulations succeeded in pulling many nations out of a monetary freefall, such a lot economies have played underneath pre-recession degrees as governments persisted to fight with their finances.

Examining the monetary quandary from the point of view of intangible resources offers a distinct point of view from conventional fiscal approaches. National highbrow Capital (NIC), comprised almost always of human capital, industry capital, technique capital, renewal capital, and monetary capital, is a invaluable intangible asset and a key resource of nationwide aggressive virtue in today’s wisdom economic system. The authors―pioneers within the field―present broad info and a rigorous conceptual framework to research the connections among the worldwide monetary difficulty and NIC improvement. masking the interval from 2005 to 2010 throughout forty eight nations, the authors identify a favorable correlation among NIC and GDP in line with capita and look at the impression of NIC funding for momentary restoration and long term chance keep an eye on and approach formulation.

Each quantity in a sequence of SpringerBriefs on NIC and the monetary main issue presents in-depth insurance of the influence of the trouble, the aftermath, destiny customers, and coverage implications for a nearby cluster. This quantity makes a speciality of Denmark, Finland, Iceland, Norway, and Sweden.

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Additional info for National Intellectual Capital and the Financial Crisis in Denmark, Finland, Iceland, Norway, and Sweden (SpringerBriefs in Economics)

Example text

The regulatory resources to supervise medium- and smaller-sized institutions have also been increased. Particularly, fiscal targets are set according to a medium-term framework based on fiscal sustainability assessments. In addition to increased government investment spending, the previously decided tax cuts took effect in 2009. A major tax reform package was legislated in early 2009, aimed at raising labor supply and reducing the government financing gap in the long run but providing demand stimulus in the short run.

In the figures, 2005 is the starting point tagged with the name of the country, and the end point is 2010. In particular, Fig. 7 is plotted to clearly show a full picture of the relationship between NIC and GDP for 48 countries in 2010. 64 Fig. 5 Financial capital of Denmark, Finland, Iceland, Norway, and Sweden indicates that the higher the NIC, the higher the GDP, and vice versa. Consequently, enhancing NIC is definitely a strategic issue that deserves the attention of national policy makers.

The swap facility was very helpful in addressing the banks’ liquidity needs. Comparisons of the Five Economies 13 Without negative effect on the foreign exchange reserve, it supported the Danish krone indirectly by calming and sending a strong positive signal to the market. In November and December 2008, the Danish government took another step in issuing 30-year bonds; thus, Danish pension funds restructured their portfolios from foreign to domestic securities (Bernstein, 2010). These measures contributed strongly to keeping capital outflows at a manageable level during the crisis and stabilized the Danish economy.

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