EIJS Working Papers Series
ORGANIZATIONAL LEARNING CAPACITY OF POLICY-MAKING SYSTEM FOR FINANCIAL SYSTEM RECOVERY: THE CASE OF SWEDEN WITH SOME SUGGESTIONS TO JAPAN
Abstract: The Swedish experience of the recovery from financial
system crisis with quick structural reform has often drawn attention as one
of the “best practices” from policy makers in various countries. Most of
the previous observations, however, merely focused on the aspect of policy
measures, such as nationalization of problem banks and divestiture of “bad
assets”. On the other hand, few have addressed the question why the Swedish
government was able to develop such drastic and adequate measures and to
apply them so quickly. Against this background, the present paper
investigates the Swedish case from the viewpoint of “organizational
learning capacity”. The policy-making system of the financial system
recovery is regarded as a virtual organization, and the paper discusses
whether this “organization ” had high capacity of organizational learning.
Using the four-step process of organizational learning proposed by Dixon
(1999) for the analytical framework, it is shown that the Swedish
policy-making system has high learning capacity, at least in comparison
with the case of Japan.
Keywords: organizational learning; financial crisis; Sweden; Japan; (follow links to similar papers)
JEL-Codes: H10; H50; (follow links to similar papers)
33 pages, June 1, 2002
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