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2003 OECD Economic Surveys: Finland 2003

image of OECD Economic Surveys: Finland 2003

This 2003 edition of OECD's periodic review of Finland's economy examines recent economic developments, policies and prospects and includes special features on the effectiveness of public spending; ageing, pension reform and long-term public finances; and policies to boost potential output growth.

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Policies to Boost Potential Output Growth

Finland’s consistently high ranking in survey-based measures of competitiveness as well as the relative rapidity of the recovery from the current cycle, are testament to a number of long-standing structural strengths that have been underpinned by key reforms in certain areas. The advantageous bias towards science and technology, as seen in areas such as the education system and the high level of R&D spending, has helped the successful specialisation in the ICT-producing sector and contributed to technological literacy among consumers. Also privatisation, liberalisation and reductions in state aid to many sectors carried out in recent years mean that market mechanisms now operate more effectively to provide a more efficient allocation of resources.

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