How global imbalances exacerbated the crisis
A lack of experience and an underdeveloped risk culture led to the financial crises of the 1990s in Sweden, said Barbro Wickman-Parak, a deputy governor of the Riksbank, in a speech in late October.
She added that one key difference between the crises of the 1990s and the recent one arose from the development of considerable global imbalances, which saw the accumulation of surpluses of savings in some countries while others ran deficits. The investment of these surpluses in global markets and
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