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2008 OECD Economic Surveys: Finland 2008

image of OECD Economic Surveys: Finland 2008

This 2008 edition of OECD's periodic survey of Finland's economy opens with a chapter examining how Finland can get the most out of Globalisation. It then reviews recent economic performance and examines key economic issues Finland faces including tax policy, the municipal services sector, a better functioning labour market, making tertiary education as good as compulsory education, and accessing and integrating foreign labour.

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Assessment and recommendations

A number of features of the Finnish economy place the country in a good position to benefit from the opportunities of globalisation; these include openness to international trade and foreign direct investment, a high education level of the population, and a strong innovation record. Indeed, top Finnish firms, such as Nokia, have been flexible and innovative in taking advantage of these opportunities through outsourcing and specialisation. Moreover, the government plays a key role in easing the pain that economic restructuring can involve; the tax and benefit system facilitates a significant redistribution of the benefits of globalisation and social safety nets provide support for those who lose their job.

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