How did Sweden recover so quickly from the Global Financial Crisis of 2008?
While most developed nations like the United States, Japan, and Britain were struggling to salvage their economies, Sweden not only repaired its economy but did so in very quick time. The Swedish Central Bank, Riksbank, used monetary policy aggressively in the aftermath of the crisis. Interest rates fell very low which allowed households to consume more because their mortgage payments dropped. The reason why Swedish officials were able to be so aggressive in their policy-making was because Sweden learned from their crisis in the early 1990s, when a collapse in commercial real estate and the Banking sector was heightened because the budget deficit rose to such high levels and the country had trouble borrowing money and the value of its currency (Krona) collapsed. Sweden’s goal of averaging a 1-percent budget surplus over time and keeping that goal intact has left the nation with the flexibility to engage in deficit spending when the economy crumbled.
To prove my point, I will use articles from the Washington Post and The NYTimes and reports from the IMF and the UN.( everything posted above is my proposal that i sent to the professor) please follow these topics and THE PAPER SHOULD BE FOCUSING MAINLY ON HOW 1990S CRISIS HELPED SWEDEN WITH RECOVERING FROM THE 2008 GLOBAL CRISIS THATS MY ARGUEMENT BECAUSE I BELIEVE THATS WHY THEY RECOVERED SO QUICKLY THATS MY MAIN POINT. HOW DID THEY LEARN FROM THEIR MISTAKES IN THE PAST.
THe paper should be 10 pages and a work cited page, MLA Format, double spaced font 12 and i need it by May 4th and I would like a rough draft of it before i recivave the final copy if possible that would really help me out.