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|Additional Physical Format:||Print version:
OECD Economic Surveys, Finland 2012.
Paris : OECD Publishing, ©2012
|Material Type:||Document, Internet resource|
|Document Type:||Internet Resource, Computer File|
|All Authors / Contributors:||
|Notes:||Finland's strong productivity performance started to weaken before the recession.|
|Description:||1 online resource (122 pages).|
|Contents:||Table of contents; Basic statistics of Finland (2010); Executive Summary; Assessment and recommendations; Finland is being hit by the renewed global economic slowdown; Figure 1. Recent macroeconomic developments; Box 1. A reinforced architecture for Economic and Monetary Union; The economy is losing momentum and inflation is set to fall; Figure 2. Unit labour costs and wages; Figure 3. Inflation is pushed by energy price hikes; The labour market is stagnating, which calls for more active labour market policies; Table 1. Main economic indicators for Finland; Figure 4. Labour market development. The financial sector is solid, but should continue strengthening its liquidity position to enhance ability to absorb shocksThe property market is stabilising; Figure 5. Housing prices and residential investment; Fiscal policy has been prudent but long-term fiscal challenges remain; Figure 6. General government balance; Long-term fiscal challenges should be addressed now; Box 2. Long-term fiscal outlook; Table 2. Summary of macroeconomic and fiscal projections; A stronger fiscal framework would help achieving medium-term sustainability. Box 3. Recommendations on labour market policies, labour supply and fiscal policyRestarting the growth engine is becoming urgent with the drastic drop in productivity; Figure 7. Labour productivity and growth; Reforms to higher education could improve quality and leverage public R & D spending; Business support should be cut and focused on remaining externalities; Figure 8. Firms having introduced either a product or a process innovation; Supporting entrepreneurship, innovation and firm growth would enhance productivity; Stronger competition would boost productivity in lagging service sectors. Figure 9. Product market regulations and price levelsProductivity in the inefficient retail sector can be raised by more competition and less regulation; Figure 10. The retail sector; Table 3. Staffing and funding of Nordic competition authorities, 2010; Broader public sector reform can improve fiscal sustainability through efficiency and address equality; Figure 11. Productivity and efficiency; Box 4. Recommendations for productivity enhancing reforms; Greater efficiency and equity in the health care system would lower fiscal costs and improve health outcomes. The decentralised structure of the Finnish health care system contributes to inefficienciesResources should be shifted from secondary to less costly primary care to enhance efficiency; Figure 12. Doctor consultations and hospital discharges; More user choice could increase efficiency and innovation; Prioritising health promotion and non-institutional long-term care would improve health outcomes; Box 5. Recommendations on health care policy; Bibliography; Annex A1. Progress in structural reform; Chapter 1. Restarting the growth engine.|
|Series Title:||OECD Economic Surveys.|