IDEAS home Printed from https://ideas.repec.org/a/cup/jnlpup/v22y2002i02p161-182_00.html
   My bibliography  Save this article

Beyond the Fringe: Finland and the Choice of Currency

Author

Listed:
  • Mayes, David G.
  • Suvanto, Antti

Abstract

This paper seeks to explain why Finland, which is further from the main population and productive centres of Europe and arguably more different and more prone to asymmetric shocks than some countries that have chosen to stay out of Stage 3 of EMU, chose to participate. We argue that economically relatively marginal issues affected the choice. How the decision-making process is conducted can be as important as the balance of information on which the decision is based. We also use evidence after the event on how the economy reacts to show that some of the problems hypothesised beforehand have turned out rather more favourably than expected. In particular Finland has experienced a substantial positive asymmetric shock in the ICT sector where membership of EMU has had a very clear positive effect on the impact on the economy. Lastly we offer some limited evidence that membership of EMU itself forces some of the changes to institutions and behaviour that are required to cope with the new pressures.

Suggested Citation

  • Mayes, David G. & Suvanto, Antti, 2002. "Beyond the Fringe: Finland and the Choice of Currency," Journal of Public Policy, Cambridge University Press, vol. 22(2), pages 161-182, September.
    • Handle: RePEc:cup:jnlpup:v:22:y:2002:i:02:p:161-182_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0143814X02005056/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. David G. Mayes & Vesa Korhonen, 2006. "The CIS: Does the Regional Hegemony Facilitate Monetary Integration?," Economie Internationale, CEPII research center, issue 107, pages 173-196.
    2. repec:zbw:bofrdp:2004_009 is not listed on IDEAS
    3. Nigel Grimwade & David G. Mayes & Jiao Wang, 2011. "Estimating the Effects of Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 13, Edward Elgar Publishing.
    4. Mayes, David & Virén, Matti, 2004. "Asymmetries in the Euro area economy," Bank of Finland Research Discussion Papers 9/2004, Bank of Finland.
    5. David G. Mayes & Matti Virén, 2004. "Asymmetries in the Euro area economy," Macroeconomics 0404024, University Library of Munich, Germany.
    6. David G. Mayes, 2013. "The euro crisis," Chapters, in: John Farrar & David G. Mayes (ed.), Globalisation, the Global Financial Crisis and the State, chapter 11, pages 243-271, Edward Elgar Publishing.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jnlpup:v:22:y:2002:i:02:p:161-182_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/pup .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.