Abstract
Virtual economy is a double edge sword, it can promote the real economy development and it also can bring negative impact even devastating damage to the real economy. The virtual economy of Iceland developed so fast and large, but it was short of the support of the real economy which was the main reason for the crisis happened. We can get some inspiration from Iceland crisis: to develop the virtual economy must rely on the native real economy; virtual economy must maintain an appropriate proportion with the real economy; financial liberalization and financial innovation must be effectively controlled.
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