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The Nature of the Finnish Competitiveness Problem

Author

Listed:
  • Maliranta, Mika
  • Vihriälä, Vesa

Abstract

We assess Finland’s competitiveness in the light of various, mainly short-term indicators. It turns out that the weak export market performance over the last few years is linked to the deterioration of profitability of production in Finland. A better export and employment performance requires a decline of relative unit labour costs and an improvement of business profitability. Wage moderation is necessary for this to happen. On the other hand, the determinants of Finland’s long-term competitiveness are quite good and maintaining and developing them should remain a key element of economic policy also in the future.

Suggested Citation

  • Maliranta, Mika & Vihriälä, Vesa, 2013. "The Nature of the Finnish Competitiveness Problem," ETLA Reports 9, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:report:9
    as

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    File URL: http://www.etla.fi/wp-content/uploads/ETLA-Raportit-Reports-9.pdf
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    Citations

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    Cited by:

    1. Vaittinen, Risto & Vanne, Reijo, 2020. "Finland’s slow recovery from the financial crisis: A demographic explanation," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).

    More about this item

    Keywords

    Competitiveness; Profitability; Productivity; Export performance; Employment;
    All these keywords.

    JEL classification:

    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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