Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/45169
Authors: 
Jäntti, Markus
Vartiainen, Juhana
Year of Publication: 
2009
Series/Report no.: 
Research paper / UNU-WIDER 2009.35
Abstract: 
This paper reviews Finland's growth strategy in the postwar decades. Finland was able to initiate an impressive mobilization of resources during this period, reflected mostly in a high rate of capital accumulation for manufacturing industries. This was achieved by an unorthodox combination of dirigiste means and a basic commitment to upholding the market economy. The state acted as a net saver, and credit was rationed to productive investment outlays. This policy package may have been boosted by the country's precarious international position during the cold war, so that an economic failure would have been very risky indeed. We argue also that incomes policies and welfare reforms were important in sustaining the necessary political compromise that underpinned the Finnish development state.
Subjects: 
economic growth
incomes policy
income distribution
labour unions
structural transformation
social contacts
developmental state
JEL: 
O43
E64
O15
J5
ISBN: 
978-92-9230-206-1
Document Type: 
Working Paper

Files in This Item:
File
Size
429.2 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.