Finland as a Knowledge Economy. Elements of Success and Lessons Learned

Dahlman Carl J.Routti JormaYlä-Anttila Pekka (eds.)

Finland has been ranked number one for the fourth time since 2000 in the World Economic Forums Global Competitiveness Index.

The country owes its strong showing to one of the most innovative business environments in the world, particularly critical to driving productivity in the country, giving its advanced stage of development. This is coupled with a very healthy macroeconomic environment, at a time when many other industrial countries are struggling in this area. The willingness of Finnish governments to run budget surpluses, so as to be able to meet future social commitments linked to the aging of the population is particularly impressive. This approach to macroeconomic policy highlights as degree of political maturity in Finnish society worthy of emulation. Furthermore, Finland has an institutional environment that is among the worldŽs finest: the business community operates in a climate of respect for the law, unusually low levels of corruption, and an openness and transparency which other countries would do well to study.

World Bank Institute

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