Download or read book Three Assessments of Finland s Economic Crisis and Economic Policy written by Christian Bordes-Marcilloux and published by . This book was released on 1993 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Viewpoints on Three Assessments of Finland s Economic Crisis and Economic Policy written by Jarmo Kontulainen and published by . This book was released on 1994 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Download or read book Viewpoints on Three Assessments of Finland s Economic Crisis and Economic Policy written by Jarmo J. Kontulainen and published by . This book was released on 2016 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Economic Prosperity Recaptured written by Seppo Honkapohja and published by MIT Press. This book was released on 2009-04-03 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Download or read book The Great Financial Crisis in Finland and Sweden written by Lars Jonung and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book OECD Economic Surveys Finland 2004 written by OECD and published by OECD Publishing. This book was released on 2004-10-04 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Finland written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-12-07 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Financial System Stability Assessment concerning Finland. It reveals that Finland’s banking system remains well capitalized and profitable. Although low interest rates have squeezed net interest income, banks have increased income from trading and insurance and reduced cost-income ratios, helping to maintain profitability. Nonperforming loans have remained low and capitalization ratios are well above requirements, though buffers may be exaggerated by the aggressive use of risk weights. The Net Stable Funding Ratio suggests that vulnerabilities from maturity mismatches are limited in aggregate. Nevertheless, previously identified vulnerabilities remain, and some have increased.
Download or read book IBSS Economics 1993 Vol 42 written by and published by Psychology Press. This book was released on 1994 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: This bibliography lists the most important works published in economics in 1993. Renowned for its international coverage and rigorous selection procedures, the IBSS provides researchers and librarians with the most comprehensive and scholarly bibliographic service available in the social sciences. The IBSS is compiled by the British Library of Political and Economic Science at the London School of Economics, one of the world's leading social science institutions. Published annually, the IBSS is available in four subject areas: anthropology, economics, political science and sociology.
Download or read book Social Policy and Economic Development in the Nordic Countries written by O. Kangas and published by Springer. This book was released on 2005-07-01 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines the relationship between Nordic social policy and economic development from a comparative perspective. It identifies the driving forces behind the development of the Nordic welfare model and the problems and dilemmas the model is facing at present. The book also traces the link between democratization and social policy, drawing attention to the role of the state and non-governmental organizations. Social Policy and Economic Development in the Nordic Countries examines Nordic social policies on unemployment, social care, family, education and health care policies, and reviews future challenges of the welfare state in the information society.
Download or read book Forty Years Experience with the OECD Code of Liberalisation of Capital Movements written by OECD and published by OECD Publishing. This book was released on 2002-10-15 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This account of the accumulated OECD experience with capital account liberalisation provides timely and valuable reading for policy makers, academics and financial practitioners alike.
Download or read book Finland as a Knowledge Economy 2 0 written by Kimmo Halme and published by World Bank Publications. This book was released on 2014-04-21 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finland has transformed itself from an agriculture-based economy into one of the leading knowledge-based economies. Aiming to provide valuable lessons for other countries, the book presents key policies, elements, initiatives and decisions behind Finland s transformation into the Knowledge Economy of today.
Download or read book Poverty and Low Income in the Nordic Countries written by Björn Gustafsson and published by Routledge. This book was released on 2018-05-08 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Reform Capacity and Macroeconomic Performance in the Nordic Countries written by Torben M. Andersen and published by OUP Oxford. This book was released on 2015-02-05 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: The outbreak of the financial crisis in 2008 has had significant effects on economic activity, unemployment, and public finances for all European countries. However, European economies do not form a homogenous region, and any serious analysis of macroeconomic imbalances in Europe must account for the fact that different economic and political models and circumstances operate across the continent. This book focuses on the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden) which have a relatively good record of undertaking fiscal and structural reforms after their own financial and debt crises in the 1980s and 1990s. The Nordic countries are small and open economies, well-known for their high income levels, high employment rates, organized labour markets, a relatively equal distribution of incomes, and large public sectors. From this perspective, the book asks whether there are lessons that might be learned from the Nordic economies. Is there a distinctive Nordic model that could be usefully followed, by other small open economies, in terms of fiscal and monetary policy design, labour market policies and reforms, and financial and housing market regulation? It is inappropriate to define the Nordic model in terms of a common set of policies. Since the key characteristics, including the overarching objectives and supporting institutions, have strong historical foundations, copying and pasting them to other countries is not easily done. Even though the Nordic experiences are not directly transferable, they may add new knowledge about the importance of institutional design, fiscal consolidation, and structural reforms not only for macroeconomic performance but also for how to preserve key objectives such as social balance and equity.
Download or read book Industrial Restructuring and Trade Reorientation in Eastern Europe written by Michael A. Landesmann and published by Cambridge University Press. This book was released on 1995-04-13 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the reorientation of foreign trade and industrial restructuring in Eastern Europe.
Download or read book Dodging Bullets written by Robert N. McCauley and published by MIT Press. This book was released on 1999-11-22 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: An entertaining summary of the broad reshaping of U.S. corporate finance in the last decade and a half. The late 1980s saw a huge wave of corporate leveraging. The U.S. financial landscape was dominated by a series of high-stakes leveraged buyouts as firms replaced their equity with new fixed debt obligations. Cash-financed acquisitions and defensive share repurchases also decapitalized corporations. This trend culminated in the sensational debt-financed bidding for RJR-Nabisco, the largest leveraged buyout of all time, before dramatically reversing itself in the early 1990s with a rapid return to equity.This entertaining summary of the broad reshaping of U.S. corporate finance in the last decade and a half looks at three major issues: why corporations leveraged up in the first place, why and how the leverage wave came to an end, and what policy lessons are to be drawn.Using the Minsky-Kindleberger model as a framework, the authors interpret the rise and fall of leveraging as a financial market mania. In the course of chronicling the return to equity in the 1990s, they address a number of important corporate finance questions: How important was the return to equity in relieving corporations' debt burdens? How did the return to equity affect the ability of young high-tech firms to finance themselves without selling out to foreign firms?
Download or read book The Challenge Of Globalization And Institution Building written by Randall W. Kindley and published by Routledge. This book was released on 2019-07-11 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Nordic Varieties of Capitalism written by Lars Mjoset and published by Emerald Group Publishing. This book was released on 2011-11-23 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of the political economy of the five Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). It emphasizes the variety of experiences within the Nordic realm, from the dramatic collapse of Iceland's economy as the financial bubble burst in 2008 to the full-employment oil-economy of Norway.
