Accountability after Economic Crisis: Retribution, Truth, or Acknowledgment?

Accountability after Economic Crisis reconstructs the captivating story of how different nations responded to the 2008 economic crisis, one of the most challenging economic downturns in modern history. Why did some countries look for explanations of the economic failure and seek to hold those responsible to account, while others looked the other way? If so, were certain methods more effective than others? Is there, in fact, a best way?

Iosif Kovras introduces an innovative framework to explain the varied political responses to an economic crisis, pushing the boundaries of traditional analysis by drawing on political economy, comparative politics, public administration, economic history, criminal law, and criminology. He identifies three distinct accountability mechanisms used by leaders: retribution—prosecuting those at fault; truth recovery—establishing commissions of inquiry to reveal the facts; official acknowledgment—issuing formal apologies. Zeroing in on each country in turn, he shows how these mechanisms were employed and with what effect.

Featuring original observations from a survey in Iceland and experimental data from a conjoint experiment, Accountability after Economic Crisis provides a thorough and engaging examination of how countries manage accountability in the wake of an economic crisis.

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Release date

Audiobook: June 24, 2025