Financial Disruptions and Eruptions - Financial Crises in the Baltic Sea Region

The proposed research project will focus on financial crises in the Baltic Sea Region, i.e. Estonia, Finland, Latvia, Lithuania and Sweden from a contemporary and historical point of view. The issue of financial crisis is currently attracting much attention, especially in the major centres that have experienced crises, including the United States and southern Europe. Focusing on the Baltic region will allow the research to analyse how the widespread diffusion of financial crises occurred in different institutional settings and levels of economic development. Indeed, if economics is to provide useful advice that can be employed to help identify and control any tendencies toward such crises, understanding the history of crises that have occurred and their regional dimensions is critical. One advantage in studying events in historical context is that richer and fuller sources are available, which is often only used in picemeal fashion in research on contemporary issues. In this proposed project we will use earlier experience in this field to produce a history of the (financial) present, based on both conbtemporary and richly documented historcial sources, to broaden the scope of understanding of financial crises in the Baltic Sea region. This comparative study focuses on three aspects of financial crisis: (i) their causes; (ii) how they are dealt with; and (iii) their consequences.


Jan Wallanders och Tom Hedelius’ stiftelse




Mikael Lönnborg
Michael Rafferty


Mikael Lönnborg
Ekonomisk-historiska institutionen
Box 513
751 20 Uppsala