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OECD Reviews of Regulatory Reform: Finland 2003

A New Consensus for Change

image of OECD Reviews of Regulatory Reform: Finland 2003

Finland is one of many OECD countries to request a broad review by the OECD of its regulatory practices and reforms. This review presents an overall picture, set within a macro-economic context, of regulatory achievements and challenges including regulatory quality, competition policy, and market openness. It also assesses progress in the commercialisation of government services.

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Market Openness

Finland’s economy has changed dramatically since the late 1980s. Before the change it was characterised by state monopolies, widespread cartelisation, and price regulation. The main trading partner was the Soviet Union. Foreigners could not buy land or trade stocks in Finnish companies on the Helsinki stock exchange. The principles of a market economy have now broadly replaced the old traditions of collective corporatism and economic nationalism. A key objective of the reforms was to strengthen competition. This required the liberalisation and deregulation of markets, to encourage both domestic and international competition. Structural and regulatory reforms to achieve this went hand-in-hand with policies to promote international trade....

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