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Large Corporations in the Finnish Economy

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  • Pajarinen, Mika
  • Ylä-Anttila, Pekka

Abstract

This paper is a part of larger research project on the role of the 30 largest firms in the Nordic countries. By examining the changes in the role of top 30 firms in the Finnish economy we aim to reveal some essential features of the structural transformation in the economy. From the national economy point of view these firms are in a crucial position. Almost all of them are multinationals, operate in several countries, and make influential decisions on trade and location of production. The analysis suggests that top 30 firms account for a substantial portion of business sector employment and value added in Finland. Moreover, the role of these large companies is particularly significant in foreign direct investment and in research and development. Our data however indicate that their role in the Finnish economy in terms of output and employment shares seems to have decreased during the recent decades. Yet, it is an open question to what extent large firms have reorganized their operations in such a way that they do not directly show up in their own output and employment data.

Suggested Citation

  • Pajarinen, Mika & Ylä-Anttila, Pekka, 2008. "Large Corporations in the Finnish Economy," Discussion Papers 1138, The Research Institute of the Finnish Economy.
  • Handle: RePEc:rif:dpaper:1138
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    File URL: http://www.etla.fi/wp-content/uploads/2012/09/dp1138.pdf
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    References listed on IDEAS

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    1. Gilles Duranton & Diego Puga, 2001. "Nursery Cities: Urban Diversity, Process Innovation, and the Life Cycle of Products," American Economic Review, American Economic Association, vol. 91(5), pages 1454-1477, December.
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    4. James R. Markusen, 1998. "Multinational Firms, Location and Trade," The World Economy, Wiley Blackwell, vol. 21(6), pages 733-756, August.
    5. Gilles Duranton & Diego Puga, 2000. "Diversity and Specialisation in Cities: Why, Where and When Does it Matter?," Urban Studies, Urban Studies Journal Limited, vol. 37(3), pages 533-555, March.
    6. Monfort, Philippe & Nicolini, Rosella, 2000. "Regional Convergence and International Integration," Journal of Urban Economics, Elsevier, pages 286-306.
    7. Brezis, Elise S & Krugman, Paul R, 1997. "Technology and the Life Cycle of Cities," Journal of Economic Growth, Springer, vol. 2(4), pages 369-383, December.
    8. Rikard Forslid & Ian Wooton, 2003. "Comparative Advantage and the Location of Production," Review of International Economics, Wiley Blackwell, vol. 11(4), pages 588-603, September.
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    Cited by:

    1. Kimmo Viljamaa & Tarmo Lemola, 2009. "ERAWATCH Country Reports 2009: Finland. Analysis of policy mixes to foster R&D investment and to contribute to the ERA," JRC Working Papers JRC53689, Joint Research Centre (Seville site).
    2. Kimmo Viljamaa & Janne Lehenkari & Tarmo Lemola, 2009. "ERAWATCH Country Report 2008 - An Assessment of Research System and Policies: Finland," JRC Working Papers JRC50885, Joint Research Centre (Seville site).
    3. Kimmo Viljamaa & Henri Lahtinen, 2012. "Erawatch Country Reports 2011: Finland," JRC Working Papers JRC77942, Joint Research Centre (Seville site).
    4. Lundan, Sarianna & Tolvanen, Juha, 2008. "Regional and Global Patterns of Internationalisation of Finnish MNEs," Discussion Papers 1170, The Research Institute of the Finnish Economy.

    More about this item

    Keywords

    multinational firms; international business; structural change;

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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