Dr. Hilmar Þór Hilmarsson Professor at the University of Akureyri, School of Business and Science, and former Advisor to Keilir Academy, has published a new book. The publishing company is Routledge Taylor & Francis Group. The book is entitled: “The Economic Crisis and its Aftermath in the Nordic and Baltic Countries - Do As We Say and Not As We Do.”

Hilmar initiated his work on the book during the fall semester 2016 when he was a Visiting Scholar at University of California Berkeley. He then continued his work as Visiting Scholar at the University of Cambridge á during the fall semester 2017 and finished writing the book in Cambridge in September 2018.

Routledge comments as follows on the book on its website:

The Nordic-Baltic region has become highly integrated. The Nordic countries have been successful in balancing competitiveness and economic growth with social inclusiveness, while the Baltic States have grown economically but remain vulnerable with weak social systems and highly unequal income distribution. European Union (EU) membership and inter-linkages with the continental Nordic banking systems appear to have affected the 2008/09 crisis response of the Baltic States.

In spite of their strengths, including their social systems, continental Nordic states are faced with a challenging mix of large, cross-border banks and highly indebted households at a time of rather weak global growth. The Baltic States are challenged by slow economic growth post-crisis, security concerns, and large-scale outward migration of the youngest and most highly educated people.

It is now a decade since the Baltic States were hit by the global crisis. It is time to take stock of their progress and assess their relations with other countries in the region and with the EU. This book focuses on the Baltics and their Nordic partners pre- and post-crisis: successes, failures, lessons learned, and future challenges, examining and comparing the crisis response of these various small states that enjoy different income levels, operate different welfare and tax systems, and seek different levels of integration with the EU.

The book can be ordered from the publishing company and Amazon.