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2006 OECD Economic Surveys: Finland 2006

image of OECD Economic Surveys: Finland 2006

This 2006 edition of OECD's periodic survey of the Finnish economy opens with a general assessment of recent economic performance and key economic challenges.  Among the challenges it addresses in more detail in succeeding chapters are ensuring fiscal sustainability in the face of imminent ageing, restricting early retirment to make the pension reform a success, increasing flexibility in centralised wage agreements, and using active and passive labour market measures to meet the employment target. This issue's special feature discusses reducing risks and improving policies in the housing market.

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Assessment and Recommendations

Growth over the past decade has been among the strongest in the OECD. Finland also ranks highly as regards innovation performance and educational attainment, both of which are key drivers of productivity. However, there has been a marked weakening in growth performance since the turn of the millennium; the contribution from the ICT sector to aggregate productivity has been much smaller and increases in the employment rate have been meagre, though the employment rate among the old has been increasing rapidly from a low level.

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