FISCAL POLICIES IN THE NORDIC COUNTRIES DURING THE ECONOMIC CRISES PERIODS

Abstract

The Scandinavian countries have steady economic growth, high per capita national income, low inflation and unemployment rates with for providing justice in income distribution their economic performance is remarkable all over the world. In this study, it is investigated how the Scandinavian countries achieved this success by following a fiscal policy in economic crisis. In this context, the general outlook of public finance and the fiscal policies implemented in the 1930 depression, 1990 crisis and 2008 global economic crisis in Scandinavian countries were investigated. The strengths and weaknesses of implemented policies were evaluated whether the policies implemented in Scandinavian countries would be a model or not for other countries. In the first part of the study, general information about the economic outlook of Scandinavian countries is given in the second part, the general outlook of public finance in Scandinavian countries is investigated and in the last part, the fiscal policies application were explained.