Index

The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis

ISBN: 978-1-78743-348-9, eISBN: 978-1-78743-347-2

Publication date: 20 August 2018

This content is currently only available as a PDF

Citation

(2018), "Index", Sigurjonsson, T.O., Schwarzkopf, D.L. and Bryant, M. (Ed.) The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis, Emerald Publishing Limited, Leeds, pp. 269-276. https://doi.org/10.1108/978-1-78743-347-220181019

Publisher

:

Emerald Publishing Limited

Copyright © 2018 Emerald Publishing Limited


INDEX

accountability
, 49, 160–162, 165, 171, 174, 177, 214

and blame-avoidance
, 156, 158

and trust
, 160

forums
, 155, 157, 161–162

mechanisms
, 158, 160–161, 165

political
, 189

processes
, 161

crisis-induced
, 153, 155, 158

account-givers
, 157, 161–162

actors
, 33, 37–40, 43–44, 46–49, 144, 154–155, 158, 182, 188, 228

central
, 40, 43, 49

agreement
, 6, 10–11, 88, 102, 112, 114, 119, 186–188

partnership
, 138, 144–145

Althingi
, 55, 58–62, 64, 132, 144, 174–175, 239

, See also Iceland—Parliament, parliament

analysts
, 29–30, 33, 35–36, 39, 43, 47

anthropology
, 87–88, 131

argument-network
, 41, 43–44

arguments
, 29, 31, 33, 36–41, 43–49, 157, 172, 174, 182, 187, 232, 235–236, 239, 242

affective
, 40–41, 46

central
, 40, 44

assessments
, 138, 184–185, 188, 254, 257

bankers
, 14, 16, 25, 29, 82–83, 89–91, 95–96, 99, 152, 163, 179–180, 186, 221, 223

banking crisis
, 48, 112, 120, 122, 180

banking institutions
, 55, 64–65

banking policy
, 116

banking sector
, 15, 65, 67, 74–75, 100, 103, 113, 123, 153, 164, 214

, See also financial sector

banking supervision
, 17

banking system
, 3–4, 6–9, 11–12, 14, 17, 31, 33–35, 64–67, 81, 90–91, 97–99, 101, 221, 223

banks
, 4–7, 9–10, 14–19, 34–36, 38, 80–82, 91–100, 102–103, 116–118, 152, 174, 180–182, 184–188, 215–223, 229, 247–248, 250–253, 257

domestic
, 5, 252

failed
, 7, 10–11, 15, 115, 116, 120, 163, 249

major
, 4, 34, 97–98, 178–179, 216–217, 220, 247

new
, 114, 116–118, 122–123, 250–253, 255–256

Basel III
, 215–217

basis points
, 19–20, 24

BCBS (Basel Committee on Bank Supervision)
, 215, 217, 219

Berkshire Hathaway
, 94

betrayal
, 87, 249

blame-avoidance
, 155–156, 158

board (of directors)
, 10, 12, 14, 47, 48, 132, 133, 136, 138–139, 141, 144, 147, 171, 172, 214, 218–219, 228–231, 235, 236–237, 239–240, 241, 258

brokerage houses
, 203

Business Iceland
, 144, 233, 236–237

Business Viking
, 87–88, 93, 247

capital
, 4, 12, 31, 90, 137, 201–202, 214–217, 248, 252

capital controls
, 7–8, 19–20, 24, 113, 115–116, 123, 153, 197–198, 252–253

imposition of
, 16, 113–115

lifting of
, 23

capital inflows
, 5, 12–13, 25

capital requirements
, 215–216

CBI (Central Bank of Iceland)
, 3, 6–7, 9–10, 14–15, 17, 18–19, 20, 22–24, 55, 64–67, 101–102, 112–115, 117–118, 121, 123, 247, 253

CDA (critical discourse analysis)
, 30–31, 48

CDS
, 24

Central Bank of Iceland.
, See CBI

centrality measures
, 40, 43–44

citizens and institutions
, 2, 255

claims
, 10, 30–31, 44, 56, 80, 96, 102, 114, 117, 119–120, 184, 190, 206, 238

commercial banks, domestic
, 4

community, ethical
, 32, 47

companies, parent
, 132, 142, 144

consumers
, 196–198, 201, 204, 206–208, 222

corporate boards.
, See board (of directors)

corporate governance
, 34–35, 134, 137–139, 141, 144–145, 218, 229, 233, 235–237

corporate social responsibility
, 200

corruption
, 9, 15, 81–82, 93, 95, 99–103, 156, 159, 163, 182

credibility
, 10, 22, 92, 134, 236

credit institutions
, 137, 139–140, 146, 215, 217, 219, 222

creditors
, 4, 25, 102, 119, 122, 141, 145, 163, 228, 232, 250

crisis-induced accountability
, 154–155, 158

crisis-induced investigations
, 54, 154, 158, 160

critical discourse analysis.
, See CDA

crowd investing
, 202

crowd investment process
, 202, 205

crowdfunding
, 171, 202

debt-based
, 203

donation-based
, 202–203

equity-based
, 203

reward-based
, 202–203

culpability
, 155, 158, 161–162, 165

culpability dimensions
, 155–156

cultural economics
, 87–88

currency crisis
, 3–4, 16, 112

, See also economic crisis, financial crisis

customers
, 130, 142, 144, 200, 218, 221, 258

Danske Bank
, 15, 33, 35–37, 92

data protection
, 206, 208

data protection and privacy
, 197, 206–207

debt
, 5, 8, 11–12, 20, 22–23, 35, 115, 121–123, 137, 187, 202–203, 250–252, 257

five-year government
, 24

household
, 7, 18

public
, 23, 121–122

demographic groups
, 56, 60, 68, 72

deposit insurance
, 10–11, 114

digitalisation
, 197, 199, 201, 207, 208

digitalised financial services
, 199, 204, 206, 208

directors.
, See board (of directors)

discourse
, 29, 31–34, 36, 37, 47, 79

divisive
, 188

legalistic
, 178

nationalistic
, 187

political
, 188

populist
, 187

distrust, xii
, 54–55, 103, 130, 158, 162, 164–165, 185, 236

diversity
, 39, 228, 231, 237, 239–242

and corporate governance codes
, 236

domestic authorities
, 6, 9, 17, 24

economic adventure
, 88, 91, 93, 96, 103

economic crash
, 87–89, 98–99, 131, 133

economic crisis
, 30, 118, 131, 133–134, 146

, See also currency crisis, financial crisis

economic processes
, 87–88

economics
, 17–18, 31, 33, 35, 37, 39, 41, 43, 47, 49

economy
, 4, 7–8, 12, 14, 16, 18, 20–21, 23, 25, 67, 247

, See also Iceland—economy

education
, 18, 55, 62, 66, 68, 70, 73, 80, 121, 156, 164, 230, 237, 241

elementary
, 60–61, 65, 69

EEA.
, See European Economic Area

elites
, 80, 91–92, 96, 99

Emergency Legislation
, 114, 116–119, 250

employee satisfaction
, 142–143

enterprise
, 131, 134, 142, 145, 147, 229, 235, 237–238, 240–241

entrepreneurs
, 202, 205

equity
, 94, 202–203, 215–216, 219, 232, 248, 252, 257

ethics
, 80, 179, 188

Working Group on
, 171

euro
, 10, 15, 207

European Economic Area (EEA)
, 22, 90, 117, 119, 255

European Parliament
, 187, 190, 215

eurozone
, 5, 9–10, 12, 20, 24

exchange rate
, 4, 7, 18–21, 113, 115–116, 123

Exista
, 94–95

financial advice
, 196, 201–202

financial companies
, 5, 92–95, 187

financial crisis
, 4–5, 153, 161, 165–167, 197–198, 231–232

, See also currency crisis, economic crisis

financial decision making, context of
, 199

financial institutions, xiii
, 22, 48, 66, 74, 78, 94–97, 100, 197–198, 219–220, 233

financial markets
, 197, 200, 217, 221

financial products
, 206–208

financial sector
, 55, 64, 67, 74, 92, 94, 175, 179–182, 184, 188, 229–230, 232, 237, 240

, See also banking sector

financial service providers
, 196–197, 201, 205

financial services
, 201, 203, 214

digital
, 207–208

establish trust in digitalised
, 204, 208

traditional
, 197, 201, 205, 208

Financial Supervisory Authority.
, See FSA

financial system
, 6–8, 34–35, 37, 131, 134, 178, 181, 197, 247, 254–255

Financial Times
, 112

financing, external
, 112, 203

FinTech
, 196, 201

firms
, 25, 116, 120, 123, 202, 207, 228, 235–236, 239, 242

bankrupt
, 25

financial
, 93, 228, 238

international
, 90

non-financial
, 197

private
, 232

real estate
, 34

regulating
, 233

supervising insurance
, 219

fiscal policies
, 7, 12, 16, 23, 25

FME
, 14, 55, 64–65, 67, 74, 101, 162, 197, 216, 218–220

, See also FSA

focussed public discourse
, 31–32

foreign currencies
, 6–7, 10, 15–16, 18, 100–101, 115, 248, 256

Foreign Exchange Act
, 115–116

foreign governments
, 6–7

foreign investors
, 5, 18, 20

FSA (Financial Supervisory Authority)
, 55, 114, 178, 216, 220, 233, 235, 238–239, 247–248, 250, 253, 258

Gallup
, 25, 55–56, 59–60, 67, 96, 158–159, 221

Gallup-Iceland
, 55, 58, 61, 98, 101, 221

Gallup-Iceland surveys
, 57–60, 64–65, 68–69, 71–72

GDP (gross domestic product)
, 4, 12–13, 20–23, 112, 116, 119–122, 181

gender
, 55–56, 61–62, 66, 70, 73–74, 228, 239–242

balance
, 228, 231, 239

diversity
, 230, 236

equality, xiv
, 230, 242

gap
, 239

goal
, 242

issue
, 230

quota law
, 228, 229, 230–231, 239, 240, 258

ratios
, 236

rights
, 171

Germany
, 13, 203

Geysir Green Energy (GGE)
, 133

GGE (Geysir Green Energy)
, 133

Glitnir Bank.
, See banks

globalisation
, 88, 100–101, 103

gross domestic product.
, See GDP

health care system
, 69, 72–74

heterodox policies
, 114

holding companies
, 95, 102, 248

homogeneity
, 232, 249

household cash flow
, 252

households
, 22–23, 25, 100, 115–116, 123, 196, 252, 256

Iceland

as an international financial hub
, 90

authorities
, 3–4, 112

businesses
, 131, 182, 231, 242

Chamber of Commerce
, 144, 233, 236–237

citizens
, 163, 186

culture
, xiii–xiv

depositors
, 250, 255

economy, xii
, 5, 12, 35, 37, 90, 92, 94–96, 131, 134, 181, 184, 190

history
, 164–165

nation
, 87, 89, 91–92

, See also national identity

Parliament
, 48, 99, 152, 159, 163, 165, 174, 186, 190

, See also Althingi, parliament

parties
, 117–118

president
, 175, 187–188

society
, 78, 92, 100–101, 103, 162, 174, 176, 183–185, 237

state
, 5, 118, 120, 186–187

state prosecutor
, 152

, See also special prosecutor

taxpayers
, 114

Icesave
, 3, 7, 10, 25, 100, 103, 118, 119–120, 123, 174, 186, 188

IMF (International Monetary Fund)
, 3, 5–10, 15–17, 19–20, 94, 101, 118–121, 123, 153,

IMF programme
, 6–10, 16, 23, 116, 119–120, 123–124

IMF staff
, 113, 119–120

inequality
, 31, 80, 167

income
, 230

increased
, 159

information asymmetries
, 157, 162, 196

institutionalised mistrust
, 153, 155, 157, 159, 161, 163, 165

institutional investors
, 3, 201

institutionalisation
, 152

institutions, xiv
, 72, 74, 114, 242

domestic
, 9, 13, 16, 114

national, xii

political, xiii
, 55, 59, 61–62, 65, 89, 171

public, xii
, 101, 161, 165

public trust in
, 153–154, 158, 165, 197, 200, 206, 208, 214, 221

integrity
, 142, 187

interest rates
, 13, 16, 18–20, 25, 116, 218, 256

, See also Central Bank interest rates

international financial

markets
, 92

shocks
, 116

International Monetary Fund.
, See IMF

investigations
, 113, 153, 177, 184, 189, 220–221, 254–255

, See also Special Investigation Commission

investment decisions
, 203–204

investment opportunities
, 198, 202, 205

investments
, 5, 20, 94–96, 98, 133, 138, 140, 196, 198–202, 205

crowd
, 202, 205, 207

investors
, 10, 16, 25, 34, 89, 91, 94–95, 97, 133, 144, 164, 180, 200–206

ISK (Icelandic króna)
, 134, 139, 218, 222, 247, 259

, See also currency crisis

judicial authorities
, 154

judicial system
, 67–70

Kaupthing Bank.
, See banks

knowledge
, 80, 102, 135, 157, 200, 204, 218, 236

expert
, 196, 206

financial
, 201

scientific-economic
, 152

sufficient
, 218

technical
, 47

króna.
, See currency crisis, ISK

Landsbankinn (Bank).
, See banks

law-enforcement agencies
, 67–70, 74

legalism
, 178

technical
, 174, 178–179, 189

loans
, 6, 8–9, 17, 100–101, 117, 137, 139–140, 181, 248, 251–252, 254, 256–257

domestic
, 117, 251, 256

management teams
, 141, 143, 235

Manic Millennium
, 89–90, 92–93, 95, 98–99

markets
, 88, 90, 118, 121, 197–198, 254

media

coverage
, 29, 147, 160, 163

social
, 163, 201, 205, 207

mistrust
, 88–89, 103, 134, 156, 160–162, 165

monetary policy
, 3, 8, 16–18, 22

Monetary Policy Committee
, 17–20

municipalities
, 131–133, 138, 251

NASDAQ Iceland
, 144, 233, 236–237

national coast guard.
, See NCG

national identity
, 87–88

NCG (national coast guard)
, 67–70

neoliberalism
, 79

network analysis
, 29, 31, 33

network composition measures
, 38–39

network stability
, 29

network vulnerability
, 46

networks
, 29, 31, 33, 37, 39–41, 43–46, 49, 198

two-mode
, 37, 40

NLCI (National Lutheran Church of Iceland)
, 71–72, 74

Nordic countries
, 6–8, 10, 119, 159, 162, 231

OECD (Organisation for Economic Cooperation and Development)
, 15, 23, 94, 121–122

operations

energy-related
, 133

insurance
, 94

sewage disposal utility
, 132

telecommunication
, 132

wind-up
, 250

Organisation for Economic Cooperation and Development.
, See OECD

organisational learning
, 157, 167

organisations
, 94, 182, 188, 233, 236, 246

non-governmental
, 207

ownership policy
, 138, 141, 144–145, 147

parliament
, 11–16, 55, 57–58, 61, 156, 158–159, 161–163, 174–175, 185, 228–230, 239–240, 253–254

members of
, 15, 163–164, 175, 184, 187–188, 190

, See also Althingi, Iceland—Parliament

people-network
, 41, 43–44

personal trust
, 197, 200, 205

platforms

crowd-investment
, 202, 205

social-trading
, 203–205

police force
, 67–68, 70

political parties
, 17, 82, 132, 136, 180

political support
, 163

politics
, 54–55, 79, 82, 101, 119, 135, 160, 174, 177, 180, 182–184, 188–190

municipal
, 135

population
, 11, 14, 56–57, 59, 67, 72, 87–88, 90–91, 132, 162, 165, 257

post-crisis period
, 22, 59, 65, 68, 69, 72, 160–161, 164

power

economic
, 92

foreign
, 187

investigative
, 175, 253, 254

professional
, 29

private limited companies
, 228, 239–240

processes, selection
, 205, 236–237, 240, 242

prudential requirements
, 215, 217, 220

public accountability
, 153–158, 160–162

public administration
, 157, 160, 165

publicly traded firms
, 228, 239

public trust, xiii
, 59, 65, 99, 101, 103, 131, 145, 153–154, 157–158, 235, 254

measurements
, 154, 163

Qatar’s Sovereign Wealth Fund
, 153, 167

quality
, 49, 92, 132, 190, 196, 202, 205, 215, 216, 217, 221, 230

quota
, 8, 241

, See also gender—quota law

recovery, xii
, 8, 21–22, 71, 116, 119, 123, 153, 164, 214, 256

asset
, 120

economic
, 54, 117, 153

export-led
, 25

social
, 54, 152–153

regulatory reforms
, 214, 219, 223

REI (Reykjavík Energy Invest)
, 133–134, 138

relations
, 4, 7, 30, 90, 100, 119, 138, 174, 176, 180, 182

relationship, xiii
, 5, 33, 93, 154, 156–158, 160–162, 199–200

representation, female
, 171–172, 228, 230–231

Reykjavík City Council
, 55, 58, 61, 132, 134–137

Reykjavík Energy
, 131–132, 134–135, 137, 139–141, 143

Reykjavík Energy Invest.
, See REI

Reykjavík Fibre Network
, 132, 143–144

robo-advice
, 201, 204, 208

savings banks
, 197

social connection model
, 182, 185

social media platforms
, 201, 207

, See also media

social trading
, 196, 201, 203–205, 207–208

SOEs.
, See state-owned enterprises

Special Investigation Commission
, 11, 47–48, 99, 152, 247, 249, 253

special prosecutor
, 152, 161, 184

stakeholders
, 90, 133, 146, 232, 237, 246, 258

state-owned enterprises (SOEs)
, 228, 233, 239

Statistics Iceland
, 23, 122, 231, 242, 257

Supreme Court of Iceland
, 164, 250, 256

transparency
, 30, 34, 41, 130, 142, 164, 239

trust

absence of
, 6, 54, 78–80, 87–88, 133, 159, 259

affective
, 199–200

breakdown of
, 98

calculative
, 199

climate of
, 157, 160–162, 165

declining
, 159–160, 165

level of
, 56, 72, 157, 162, 196, 221–222

measures of
, 55, 56, 57, 65, 68, 72, 74, 214

patterns of
, 154

political
, 246

rebuilding
, 172, 186, 214, 246, 256, 259

restoration of
, 4, 54, 67, 141, 146, 154, 160, 165, 171, 240

return of
, xiv, 3, 29, 87

role of
, 197, 199, 208

sense of
, 89, 96

unemployment
, 4, 249

vulnerability
, 100, 199, 233, 249

Working Group on Ethics (WGE)
, 174–178, 180, 183, 185–186, 188, 189

women
, 60, 65–66, 68–70, 73–74, 80, 229, 231–232, 239, 241

, See also gender