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Author: Jarmo Kontulainen
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
Tiivistelmä.
Author: Jarmo Kontulainen
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
Tiivistelmä.
Author: Jarmo J. Kontulainen
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
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Book Description
This paper summarizes the basic arguments given by professors Christian Bordes, David Currie and Hans Söderström in their reports on the state and behaviour of the Finnish economy prior to mid 1993. The focus is primarily on the analytical frameworks or models used by the professors to organize their thoughts on the Finnish economy, and, admittedly, at some risk of over-simplification interpretes the reports through common analytical principles. The paper argues that basically each of the reports subscribes to the idea of a credit cycle as the driving force behind the development of the Finnish economy during the last ten years or so. Thus the very nature of the credit cycle is analyzed in the paper and interpreted in a way suitable for economic policy analysis. This discussion is followed by the policy analysis, which is organized through a sequence of policy issues and proposals raised by the professors in their reports. The paper tries to emphasize and evaluate those aspects of the analysis pursued by the professors which relate to the (lack of) credibility of the then prevailing policy regime and the feasibility of the various policy measures taken. Finally, the paper draws attention to some of the ideas discussed by the professors related to future policy options in Finland.
Author: Christian Bordes-Marcilloux
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
Focuses on the short-term and long-term causes underlying the current state of the economy, including the role of economic policy, the links between stabilization policy and structural development, and monetary policies. Covers the period from 1980 to 1992.
Author: Lars Jonung
Publisher: Edward Elgar Publishing
ISBN: 1849802130
Category : Business & Economics
Languages : en
Pages : 351
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Book Description
The Nordic financial crisis had it all: a botched liberalization, a huge boom followed by an even bigger bust, massive taxpayer-financed bailouts and, finally, deep long-run gains. The first-class team of scholars mobilized in this book convincingly tell a story that should be carefully studied by economists, bankers and policymakers. After this book, no one should be able to say: If we only knew ! Charles Wyplosz, Graduate Institute of International Studies, Geneva, Switzerland The financial crisis in Scandinavia in the early 1990s was a forerunner of the later world-wide crisis in 2007/8. Although the initial causation was different, the impact on their banks, though more localised, was just as severe. So we can benefit, and already policymakers have done so, from learning the lessons in this book on how to restore shattered banking systems to health. For this we owe a debt of gratitude to the editors, who have put together a series of key papers that emerged from a much larger exercise on the crisis that was earlier reported in four volumes in Swedish and Finnish. Amongst the many studies on current and past financial crises, this is a classic must-read . Charles A.E. Goodhart, London School of Economics, UK The Nordic experience with financial crisis resolution could not be more timely. Everyone cites it as an example of how it should be done , but rarely does one find careful and detailed analysis. Now policymakers and others searching for guidance will know where to look. Barry Eichengreen, University of California, Berkeley, US Following World War II, Nordic countries were commonly regarded as successful and stable economies. This perception was, however, shattered in the early 1990s when Finland and Sweden encountered severe financial crises. Here, the authors explore the symptoms of financial crisis decreasing real income, soaring unemployment and exploding public deficits and their devastating effects. The book compares and contrasts the experiences of Finland and Sweden, then adopts an international perspective, encompassing the experiences of Asia, Latin America, Denmark and Norway. Lessons from the 1990s crisis are drawn, and possible solutions prescribed. The conclusion is that long-term effects of financial crises financial liberalization and integration are not as dramatic as the short-term effects, but may prove to be of greater importance over time. Only the future will show whether these long-term benefits will balance or even outweigh the enormous short-term costs of the crises. Highly relevant to the current international financial crisis currently afflicting the world economy, this timely book will prove invaluable to economists and other social scientists with a general interest in financial crises, and to those with a more specific interest in the evolution and models of Scandinavian economies.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264006605
Category :
Languages : en
Pages : 201
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Book Description
In this 2004 review of the Finnish economy, OECD finds that Finland’s recent strong performance is threatened by population ageing and falling productivity and prices in the ICT sector. This edition’s special feature suggests fiscal measures to counter budgetary pressures of the ageing population.
Author: Seppo Honkapohja
Publisher: MIT Press
ISBN: 0262291894
Category : Business & Economics
Languages : en
Pages : 157
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Book Description
Many countries have experienced major economic changes since the mid-1980s as a result of the deregulation and liberalization of national financial systems—two key aspects of globalization—with some experiencing boom and bust in rapid succession. The small Northern European country of Finland has been hailed as a success story for achieving renewed economic growth and prosperity after a financial crisis and deep depression in the early 1990s. Economic Prosperity Recaptured offers a detailed analysis of the rapid swings in Finland's recent economic development, from initial overheating in the late 1980s through deep crisis in the early 1990s to recovery and growth since the mid-1990s. Finland's complex road to recovery offers excellent examples of both unsuccessful and successful policy responses to changing circumstances. The authors examine the three relatively distinct periods of Finland's recent experience, analyzing the adequacy of the macroeconomic policy response in each case. They assess the real economic effects of financial constraints and look for evidence of the "credit channel" of the monetary system. Finland's rapid economic growth since the mid-1990s is largely the result of its structural transformation into a high-tech economy; Nokia is the most famous example of this information and communication technology success. Elaborating on Finland's ICT revolution, the authors demonstrate that well-designed economic policies contributed to Finland's economic turnaround. CESifo Book series
Author: Carl J. Dahlman
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
In the early 1990s, Finland went through watershed developments due to a severe economic recession, during which unemployment rates rose from around 2 percent to over 15 percent and GDP decreased by more than 10 percent. However, in one decade Finland became the most ICT-specialized economy in the world. Three times it has ranked number 1 in the World Economic Forum's (WEF) competitiveness index. It also ranked highest in the OECD's Program for International Student Assessment (PISA) studies of learning skills and educational attainment. This paper includes the following headings: introduction; Finland's knowledge economy today; structural changes in the Finnish economy - from agriculture to high-tech; changes in the economic and institutional regimes; innovation and education strategies and policies in Finland; sectoral perspectives on the Finnish knowledge economy -- from forest-related industries to ICT; challenges to the Finnish knowledge economy -- what's ahead; and conclusions and lessons from Finland's knowledge economy for other economies.
Author: Randall W. Kindley
Publisher: Routledge
ISBN: 1000315169
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
Describing and analyzing the links between monetary policy and economic governance in small countries in both Western and Eastern Europe, this interdisciplinary volume demonstrates how interest groups shape monetary policy decisions in increasingly globalized financial markets. The contributors' findings hold great relevance even for large contries like the United States, which are now struggling with the challenges of internationalization. A diverse group of political scientists and economists, the contributors contend that although the small states have limited options, they are nonetheless able to make choices that enable their export industries to flourish in an environment of increasing internationalization. The authors conclude that lack of control over the future shape of monetary union in Europe is not inimical to future prosperity.
Author: Björn Gustafsson
Publisher: Routledge
ISBN: 1351787950
Category : Social Science
Languages : en
Pages : 226
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Book Description
This title was first published in 2000: The Nordic Council and the Nordic Council of Ministers decided in 1994 to initiate and finance a comparative study to understand better the structure and development of poverty in five Nordic countries, (Denmark, Finland, Iceland, Norway and Sweden). The main question posed is how the number of people living with low incomes has changed over time and what characterizes such households.? Since no official poverty line has been defined in the Nordic countries, the comparative study examines a set of different definitions of poverty and analyzes the change in poverty rates and poverty composition in light of those different definitions.
Author:
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 28
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