Bericht

Suomen kasvu: Menetetty vuosikymmen ja lähivuosien mahdollisuudet

In the report we analyse the reasons for the weakness of Finland’s economic performance over the past decade and assess the growth prospects in the coming 5 years. The weakness of Finland’s performance relative to comparative EU-countries since 2009 can largely be explained by the collapse of Nokia’s production and the deterioration of cost competitiveness. The recovery in turn stems from a stronger export market growth, the fading away of the negative Nokia shock, and the improvement of cost competitiveness. Of the rise of employment by some 100 000 jobs since 2015 about half can be explained by a number of policy measures to increase labour supply and the so-called competitiveness pact. Based on a realistic assumption on productivity growth, we estimate that Finland could achieve an annual growth rate of about 2 per cent in the coming 5 years. This requires, nevertheless, that the employment rate increases by 2023 to the level reached by comparative countries. Although such a change would not be greater than what is taking place during the current government period, ambitious reforms are needed to achieve this.

Alternative title
Finland’s Growth Performance – The Lost Decade and the Prospects in the Near Term
Language
Finnisch

Bibliographic citation
Series: ETLA Report ; No. 87

Classification
Wirtschaft
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Fiscal Policy
Trade: General
Demographic Trends, Macroeconomic Effects, and Forecasts
Demand and Supply of Labor: General
Macroeconomic Analyses of Economic Development
Subject
Growth
Employment
Productivity
Labour supply
Competitiveness
Finland’s economy
Wirtschaftswachstum
Produktivitätsentwicklung
Arbeitsangebot
Internationaler Wettbewerb
Finnland

Event
Geistige Schöpfung
(who)
Kaitila, Ville
Kauhanen, Antti
Kuusi, Tero
Lehmus, Markku
Maliranta, Mika
Vihriälä, Vesa
Event
Veröffentlichung
(who)
The Research Institute of the Finnish Economy (ETLA)
(where)
Helsinki
(when)
2018

Handle
Last update
10.03.2025, 11:41 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Bericht

Associated

  • Kaitila, Ville
  • Kauhanen, Antti
  • Kuusi, Tero
  • Lehmus, Markku
  • Maliranta, Mika
  • Vihriälä, Vesa
  • The Research Institute of the Finnish Economy (ETLA)

Time of origin

  • 2018

Other Objects (12)