OECD economic surveys : Finland 1998-1999 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD economic surveys.

OECD Economic Surveys

Language:

English

Subjects (All):

Economic history.

Finland--Economic conditions--1945-1981.

Finland.

Finland--Economic policy.

Physical Description:

1 online resource (135 pages).

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1999]

Language Note:

English

Summary:

Assessment and recommendations I. Macroeconomic conditions -Admirable performance, but unemployment is still very high -Macroeconomic policy: a new era begins with the advent of the euro -Short-term outlook II. Improving performance by stepping up structural reform -How to improve labour market performance -Product markets: competition increased substantially -Financial markets: banks complete payback of emergency loans -Medium-term public sector issues III. Enhancing environmentally sustainable growth -The major issues: an overview -Institutional framework -Forestry policy aims at sustainable management of forests -Climate change policy -Transborder and local pollution problems -Assessment and scope for further action Glossary of acronyms and terms Bibliography Annexes -I. Labour market reform measures in the 1990s -II. Calendar of main economic events.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Macroeconomic conditions

Admirable performance, but unemployment is still very high

Figure 1. Unemployment in Finland and the euro area

Growth has decelerated, but remains buoyant

Table 1. Demand and output

Figure 2. Monthly output developments

Figure 3. Industrial production

Weaker exports

Table 2. Exports by industry

Figure 4. Cost competitiveness and export performance

Private consumption surges, but the housing investment boom ends

Table 3. Household appropriation account

Figure 5. Household spending

Solid expansion of business investment

Figure 6. Business investment

Financial markets: vigorous growth in bank lending

Strong employment growth

Table 4. Labour market developments

Figure 7. Labour market

Wage inflation picks up somewhat, while price inflation remains subdued

Table 5. Wages, costs and prices

External position: new record current account surplus

Finland in the 1990s: from deep recession to remarkable recovery

Figure 8. GDP and expenditures

Macroeconomic policy: a new era begins with the advent of the euro

Fiscal policy: the government budget moves into surplus

The 1998 outcome, the 1999 budget and the 2000 budget deliberations

Table 6. Budgetary plans and outcomes

Monetary policy: smooth run-up to the euro

Figure 9. Interest and exchange rate developments

Monetary conditions appropriate in 1999, but probably too easy in 2000

Short-term outlook

Figure 10. Leading indicators

Table 7. Short-term projections

II. Improving performance by stepping up structural reform

Figure 11. Structure of the labour force

Figure 12. GDP per capita

Box 1. The programme of the new government

How to improve labour market performance

Table 8. Labour market indicators.

Table 9. Threshold wages

Figure 13. Tax rates in Finland and other OECD countries

Box 2. High effective tax rates affect many Finns

Figure 14. Effective marginal tax rates for salary earners and self employed

Figure 15. Disposable income and income-dependent social benefits of households

Product markets: competition increased substantially

Privatisation: higher proceeds in 1998

Figure 16. Privatisation proceeds

Subsidies to industry: below EU average

Figure 17. State aid

The Finnish economy has benefited from foreign ownership

Figure 18. Foreign investment in Finland

Table 10. Domestic and foreign-owned companies

Deregulation and competition policy

Financial markets: banks complete payback of emergency loans

Figure 19. Development of the banking sector

Figure 20. Bank profitability and credit behaviour

Medium-term public sector issues

The fiscal consolidation of the 1990s: mainly achieved through expenditure cuts

Figure 21. Fiscal consolidation 1993-98

Table 11. Public finances

Table 12. Government employment

Medium-term policy challenges

Box 3. The Stability and Growth Pact

Table 13. Recommandations for further structural reform

III. Enhancing environmentally sustainable growth

The major issues: an overview

Institutional framework

Forestry policy aims at sustainable management of forests

Box 4. The forest sector

Table 14. The forest sector in the economy

Table 15. Forest land ownership

Figure 22. Use of forest resources

Table 16. Spending on nature conservation

Climate change policy

Figure 23. CO 2 emission intensities

Box 5. Energy policy

Figure 24. Projections of greenhouse gas emissions

Figure 25. Greenhouse gas emissions by gas and sector

Table 17. Energy taxation.

Box 6. Competitiveness: a valid reason for suboptimal environmental taxation?

Figure 26. Prices and taxes for fuel oil and gasoline

Figure 27. Petrol taxes in international comparison

Box 7. Transport is emission-intensive

Table 18. Cost recovery in road and rail transport

Transborder and local pollution problems

Box 8. Transborder pollution problems and co-operation with neighbouring countries

Table 19. Finnish policy targets for transborder environmental problems

Acidification

Figure 28. Emissions of acidifying gases

Eutrophication

Figure 29. Sources of nutrient loading

Box 9. Finnish agriculture and the environment

Assessment and scope for further action

Notes

Glossary of acronyms and terms

Bibliography

Annex I. Labour market reform measures in the 1990s

Transfers

Taxes

Active labour market policy

Employment protection legislation

Working-time flexibility

Wage formation

Annex II. Calendar of main economic events

Boxes

Box 6. Competitiveness: a valid reason for suboptimal environmental taxation?

Tables

Table 8. Labour market indicators

Table 9. Threshold wages

Table 11. Public finances.

Table 12. Government employment

Table 17. Energy taxation

Figures

Figure 29. Sources of nutrient loading.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-16736-6

OCLC:

1132391784