Publications

Reports 181

Hidden Networks: Value Chain Vulnerability and Indirect Sourcing in the Nordic Region

Ali-Yrkkö JyrkiBøegh Nielsen Peter
The findings demonstrate that regional Nordic trade contains significant hidden exposure to non-European markets. On average, 11% of intermediate
Working Papers 146

Growth in Chains: EU Value Chain Productivity and its Slowdown

Kuusi TeroLähdemäki Sakari
We study Europe’s post-2008 productivity slowdown using novel total factor productivity (TFP) measures that follow production beyond individual industries
Academic Publications

Immigration and Firm Innovation: Evidence from Finnish Manufacturing

Maczulskij Terhi
This study examines the relationship between immigration and firm-level innovation in the Finnish manufacturing sector. The analysis exploits unique
Books

Finland 2051

Kangasharju AkiRouvinen Petri
Finland 2051
The vision set out in this anniversary publication, Finland 2051 (Suomi 2051. In Finnish with an abstract in English.),
Working Papers 145

Labor Supply Shock and Firm Innovation: Evidence from EU Enlargement

Maczulskij Terhi
This study examines the effects of the 2004 European Union enlargement on firm productivity and innovation in Finland. Using
Working Papers 144

Geoeconomic Shocks and Finland’s Position in Global Value Chains

Wang Maria
This paper studies how geoeconomic shocks affect bilateral trade, and what they imply for the position of a small
Reports 180

Global Value Chains Under Geoeconomic Pressure: Impact on Productivity

Ali-Yrkkö JyrkiKuusi Tero
The global economy has shifted from hyper-globalisation to an era of geoeconomics, where the “just-in-time” logic based on cost
Academic Publications

More Aware, But Still Halfway There – Life Insurance Response to Covid-19 in Finland

Kuusi TeroRopponen OlliValkonen Tarmo
We study the impact of the first wave of the Covid-19 pandemic on the demand for risk life insurance
Academic Publications

Which Discoveries Are Paradigm Shifting?

Ashouri SajadHajikhani ArashHyytinen AriRouvinen PetriSuominen Arho
To more closely align theories of paradigm-shifting discoveries and their empirical quantification, we propose a novel measure that incorporates
Academic Publications

Killers on the Road of Emerging Start-ups – Implications for Market Entry and Venture Capital Financing

Koski HeliKässi OttoBraesemann Fabian
The competitive effects of acquisitions made by large US-based technology companies have come under increased regulatory scrutiny over recent
Other publications

Fiscal Multipliers and the Effects of Consolidation Measures in Finland

Lähdemäki SakariPuonti PäiviTervala Juha
Finland faces chronic fiscal deficits, rising public debt, and weak economic growth, making fiscal consolidation an urgent priority. This
Reports 179

Acquisitions, Entrepreneurial Capital, and Firm Performance

Pajarinen MikaYlhäinen Ilkka
We examine how entrepreneurial capital—wealth, experience, skills, and networks—released through acquisitions is reallocated to new and existing firms. We
Working Papers 143

Export Market Share Decomposition, Export Performance, and Investment Activity

Kaitila Ville
We use goods export data at the SITC 3-digit level to analyse countries’ world market-share developments in 2002–2024.
Briefs 185

The Product Structure of Finnish Goods Exports Has Been Unfavourable

Kaitila Ville
Finland’s share of the total value of global goods exports decreased from 0.72 per cent to 0.35 per cent
Working Papers 142

Productivity Dynamics of Mergers, Acquisitions and Restructuring

Kuosmanen NataliaKuosmanen TimoMaczulskij Terhi
A substantial share of firm entry and exit observed in register-based data reflects mergers, acquisitions, spin-offs, and other forms
Briefs 184

What Would a Four-day Work Week Cost Finnish Exports? Factor Prices and Export Price Competitiveness

Markkanen JaakkoSiikanen MarkkuValmari Nelli
We assess what a four-day, 32-hour work week would cost Finland’s goods exports across nine large commodity markets. Absent
Working Papers 141

Beggar-Thy-Neighbor by Other Means

Markkanen JaakkoSiikanen MarkkuValmari Nelli
A country that cannot devalue its currency can still cut its exporters’ costs through industrial policy and steal business
Reports 178

Extending the Carbon Border Adjustment Mechanism to Indirect Emissions: Implications for Finland

Wang MariaKuusi Tero
This report examines the planned extension of the EU Carbon Border Adjustment Mechanism (CBAM) to indirect emissions and its
Briefs 183

Value Creation in the Geoeconomic Transformation of the 5G and 6G Era

Koski HeliRouvinen PetriAli-Vehmas TimoHyvärinen NinaLakaniemi IlkkaLehtinen RistoMäki Denisa
5G and 6G are more than communications infrastructures: they provide a foundation for data- and software-driven value creation, productivity
Briefs 182

Geopolitical Rivalry Reshapes Global Innovation Networks

Koski Heli
Geopolitical tensions have increasingly extended to the development of strategic technologies. In particular, technological rivalry between the United States
Working Papers 140

Geopolitical Fragmentation and the Geography of 5G Innovation

Koski Heli
This study examines how the U.S.–China technological rivalry reshapes inventive collaboration in core 5G infrastructure technologies. Using 106,117 priority
Briefs 181

The EU ETS Stimulated Innovation Without Productivity Losses

Maczulskij Terhi
TThe EU ETS is the main climate policy instrument in the European Union. By putting a price on carbon
Working Papers 139

The Effect of EU ETS on Firm Productivity and Innovation-related Activity

Maczulskij Terhi
This study examines the impact of the EU Emission Trading System on firms’ productivity and innovation behavior in the
Academic Publications

Who Gains from Agglomeration? The Wage, Productivity, and Cost Effects of Transport Improvements on Firms and Workers

Riukula KristaVäänänen Touko
We study the impact of transport-induced agglomeration on worker earnings and establishment-level outcomes in the Helsinki region, Finland, using

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