The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis最新文献

Chapter 9: Have Icelanders Learned Their Lesson? The Investigation of the Icelandic Collapse and its Aftermath 第九章:冰岛人吸取教训了吗?对冰岛崩塌及其后果的调查

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181013

V. Árnason

{"title":"Chapter 9: Have Icelanders Learned Their Lesson? The Investigation of the Icelandic Collapse and its Aftermath","authors":"V. Árnason","doi":"10.1108/978-1-78743-347-220181013","DOIUrl":"https://doi.org/10.1108/978-1-78743-347-220181013","url":null,"abstract":"After the financial collapse, the Icelandic Parliament set up a Special Investigation Commission to explain the causes of the events. A working group on ethics evaluated the explanations of the commission from a moral perspective and placed its analyses in the wider social context. This chapter delineates the approach and the main findings of these investigations. The author argues that the main lessons to be learned are about the need to strengthen democratic structures and professional practices in business, politics and administration. The implications of this structural approach for assessing the responsibility for the collapse are discussed in the light of I.M. Young’s social connection model. While the parliamentary reports were well received, three events hindered Icelanders in learning the reports’ main lessons. In addition to a volcanic eruption immediately after the publication of the report, two major political debates led the reconstruction work astray. The first was about the case of the former prime minister and the second was the fierce Icesave dispute about whether Icelanders should share the financial burden with the citizens of the United Kingdom and the Netherlands who lost their savings in the Icesave accounts. This issue dominated Icelandic public discourse for three years and diverted political attention from the message of the parliamentary reports – namely, that the main explanatory factors for the financial collapse were weak governance and flawed practices within Iceland. As a consequence, the political sector has lagged behind other social sectors in efforts to learn lessons from the financial collapse.","PeriodicalId":145304,"journal":{"name":"The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129365425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Prelims 预备考试

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181020

引用次数: 0

Chapter 3: Public Trust in Institutions in Pre- and Post-Crisis Iceland (I): Take the Lift Down, But Use the Stairs Up 第三章:危机前后冰岛公众对机构的信任(一):乘电梯下来，但要走楼梯上去

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181004

Gudrun Johnsen, S. Sigurgeirsdóttir

{"title":"Chapter 3: Public Trust in Institutions in Pre- and Post-Crisis Iceland (I): Take the Lift Down, But Use the Stairs Up","authors":"Gudrun Johnsen, S. Sigurgeirsdóttir","doi":"10.1108/978-1-78743-347-220181004","DOIUrl":"https://doi.org/10.1108/978-1-78743-347-220181004","url":null,"abstract":"Abstract \u0000Trust is considered instrumental for economic growth, successful operation of public institutions and social cohesion. We explore how public trust in Icelandic institutions has developed during the recent tumultous financial times, including the failure of the Icelandic banking sector. Using data from Gallup-Iceland’s annual survey of individuals’ trust in institutions, we show that trust in general, and particularly towards political and financial institutions, evaporates following the crisis year of 2008. Although trust varies significantly among different demographic groups, the trend shows how the road to recovering trust in Icelandic institutions post-crisis has proven to be challenging and drawn-out. Apart from law-enforcement agencies, which were relatively unscathed by the financial calamities, no institution has managed to escape the drop in trust, nor have they re-established the pre-crisis level of trust in the minds of the public nearly a decade after the crisis. A notable personal post-crisis exception is the recently elected President of Iceland who has managed to improve trust in his office by the highest margin of all 15 public offices and institutions examined.","PeriodicalId":145304,"journal":{"name":"The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis","volume":"367 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132742945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Chapter 10: Trust and Financial Services: The Impact of Increasing Digitalisation and the Financial Crisis 第10章:信任与金融服务:日益数字化和金融危机的影响

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181014

A. Oehler, Stefan Wendt

{"title":"Chapter 10: Trust and Financial Services: The Impact of Increasing Digitalisation and the Financial Crisis","authors":"A. Oehler, Stefan Wendt","doi":"10.1108/978-1-78743-347-220181014","DOIUrl":"https://doi.org/10.1108/978-1-78743-347-220181014","url":null,"abstract":"Abstract \u0000Current trends in financial services are characterised by two intertwined developments. First, increasing digitalisation provides opportunities to invest or raise money through channels that have not been available with more traditional financial services. Crowd-investing and social-trading platforms act as new intermediaries. Similarly, automated advice (robo-advice) is attracting increased attention. Second, the financial crisis of 2007–2010 is associated with a considerable decline in trust in financial institutions, even more so in Iceland, which had experienced a complete collapse of its banking system. Despite the evaporation of trust in their banking system, Icelandic consumers were largely bound to use Icelandic financial institutions because capital controls were in place since the financial crisis until 2017, which limited investors’ opportunities to, for example, diversify their portfolios internationally. As financial decisions are inherently risky and since financial services have the characteristics of credence goods, those who wish to use financial services need to trust financial intermediaries or the immediate contractual partner. The purpose of this chapter is to examine the role of trust in the context of increased digitalisation, and to discuss steps to establish trust in digitalised financial services. Among other items, we discuss the information requirements accompanying financial products and financial institutions, data protection and liability in the context of emerging digitalisation. Our work holds implications for individuals, financial service providers, policy makers and supervisory authorities.","PeriodicalId":145304,"journal":{"name":"The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120847451","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Chapter 12: Restoring Trust Through Improved Corporate Governance and Adherence to Gender Quotas 第十二章:通过改善公司治理和遵守性别配额来恢复信任

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181017

Audur Arna Arnardottir, Throstur Olaf Sigurjonsson

引用次数: 1

Index 指数

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181019

引用次数: 0

Chapter 1: Restoring Confidence in the Aftermath of Iceland’s Financial Crisis 第一章:在冰岛金融危机后重建信心

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181001

G. Zoega

{"title":"Chapter 1: Restoring Confidence in the Aftermath of Iceland’s Financial Crisis","authors":"G. Zoega","doi":"10.1108/978-1-78743-347-220181001","DOIUrl":"https://doi.org/10.1108/978-1-78743-347-220181001","url":null,"abstract":"Abstract \u0000Following the collapse of the banking system in October 2008, the Icelandic authorities attempted to restore confidence in the country’s institutions, improve their functioning and gradually improve the country’s credit rating. The authorities took ownership of an International Monetary Fund-sponsored economic programme that managed to turn the macroeconomic development around when, following a trough in the summer of 2010, an economic expansion started that has continued ever since. They applied for membership in the European Union in order to show their commitment to be part of the international economic community and to have a lender of last resort in the European Central Bank in future crises. The causes of the collapse were investigated and many bankers were prosecuted. Finally, financial regulations were made stricter and the structures of the Central Bank and the supervisory authority were changed for the better. The net effect was to lower the credit default swap rate on the government’s debt, gain access to capital markets and make the Iceland story one of resurrection rather than only hubris and collapse.","PeriodicalId":145304,"journal":{"name":"The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130196343","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Chapter 5: ‘Not Just Crying About the Money’: Iceland and Globalisation During Boom and Crisis 第五章:“不只是为钱而哭泣”:繁荣与危机时期的冰岛与全球化

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181006

Kristín Loftsdóttir, M. Mixa

{"title":"Chapter 5: ‘Not Just Crying About the Money’: Iceland and Globalisation During Boom and Crisis","authors":"Kristín Loftsdóttir, M. Mixa","doi":"10.1108/978-1-78743-347-220181006","DOIUrl":"https://doi.org/10.1108/978-1-78743-347-220181006","url":null,"abstract":"Abstract \u0000The enormous financial losses during the economic crash in Iceland led to widespread anxieties, coupled with a deep sense of shared national disaster and moral collapse (Bernburg, 2015; Olafsson, 2014). The strong sense of betrayal indicates how economic processes are not only about economic prosperity, but are embedded also in wider societal discourses and a sense of national identity (Schwegler, 2009). We use perspectives from anthropology and cultural economics to ask how the lack of trust by the Icelandic population after the crash signals both a different way of visualising Iceland’s role within an increasingly global world and a changing sense of Icelanders as national subjects standing unified against foreigners. Iceland’s neo-liberalisation inserted the country into global institutions and processes with the faith that these processes would automatically be beneficial to Iceland. Furthermore, the sense of some kind of a unified Icelandic subject was manifested in the image of the ‘Business Viking’, which was seen as embodying the interest of the Icelandic nation as a whole. Following the economic crash, the betrayal of trust involved disrupting the idea of the ‘oneness’ of Iceland and thus, the sharp distinction between ‘us’ Icelanders and ‘those’ foreigners. In our discussion, we trace different ways of conceptualising this sense of Icelanders as a unified entity, asking what this notion means in terms of trust. Our research shows how the sense of ‘unified Icelanders’ was instrumental in creating the feeling of trust, and how it is possible to manipulate and appropriate that trust.","PeriodicalId":145304,"journal":{"name":"The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117238468","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A Summary of the Chapters in Part II 第二部分各章摘要

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181024

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Chapter 2: Discursive Control Using Emotion and Economics During a Financial Crisis 第二章:金融危机中运用情绪与经济学的话语控制

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis Pub Date : 2018-07-23 DOI: 10.1108/978-1-78743-347-220181002

David L. Schwarzkopf, Throstur Olaf Sigurjonsson

引用次数: 0