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Finland’s Catch-up: Convergence Through Economic Restructuring

Karppinen, Eeva LU (2013) EKHR72 20131
Department of Economic History
Abstract (Swedish)
The aim of the paper is to examine the Finnish economic transformation and
the catch-up process from 1975 onwards. Moreover, this paper looks into the forces
behind the rapid convergence. Finland, an example country, used to be a peripheral
country that has only in the past decades transformed into an economy where
innovation, technology and education have gained important roles. Given this economic
restructuring and convergence, this paper will shed light on how such convergence was
possible and will provide answers to the question whether this process could be
explained through resource allocation. With that, this paper consists of theories that
entail discussing on convergence, structural change and the process of... (More)
The aim of the paper is to examine the Finnish economic transformation and
the catch-up process from 1975 onwards. Moreover, this paper looks into the forces
behind the rapid convergence. Finland, an example country, used to be a peripheral
country that has only in the past decades transformed into an economy where
innovation, technology and education have gained important roles. Given this economic
restructuring and convergence, this paper will shed light on how such convergence was
possible and will provide answers to the question whether this process could be
explained through resource allocation. With that, this paper consists of theories that
entail discussing on convergence, structural change and the process of catch-up. The
question of explaining the Finnish convergence in the past decades is then analysed by
looking at output as well as productivity in the best performing industries. After this,
aggregate examination on the whole economy, shift-share analysis by Timmer and
Szirmai is conducted in order to demonstrate structural change’s effect on the economy
and sectoral performance (2000). Lastly, this thesis will conclude that the rapid
transformation could be seen in the increases in output and labour productivity in ICT
as well as electronics. Furthermore, findings will discuss and speculate the future
prospects of growth and economic restructuring in Finland. (Less)
Please use this url to cite or link to this publication:
author
Karppinen, Eeva LU
supervisor
organization
course
EKHR72 20131
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Innovation, economic growth, medical instruments
language
English
id
4139728
date added to LUP
2014-01-08 11:37:45
date last changed
2014-01-08 11:37:45
@misc{4139728,
  abstract     = {The aim of the paper is to examine the Finnish economic transformation and 
the catch-up process from 1975 onwards. Moreover, this paper looks into the forces 
behind the rapid convergence. Finland, an example country, used to be a peripheral 
country that has only in the past decades transformed into an economy where 
innovation, technology and education have gained important roles. Given this economic 
restructuring and convergence, this paper will shed light on how such convergence was 
possible and will provide answers to the question whether this process could be 
explained through resource allocation. With that, this paper consists of theories that 
entail discussing on convergence, structural change and the process of catch-up. The 
question of explaining the Finnish convergence in the past decades is then analysed by 
looking at output as well as productivity in the best performing industries. After this, 
aggregate examination on the whole economy, shift-share analysis by Timmer and 
Szirmai is conducted in order to demonstrate structural change’s effect on the economy 
and sectoral performance (2000). Lastly, this thesis will conclude that the rapid 
transformation could be seen in the increases in output and labour productivity in ICT 
as well as electronics. Furthermore, findings will discuss and speculate the future 
prospects of growth and economic restructuring in Finland.},
  author       = {Karppinen, Eeva},
  keyword      = {Innovation,economic growth,medical instruments},
  language     = {eng},
  note         = {Student Paper},
  title        = {Finland’s Catch-up: Convergence Through Economic Restructuring},
  year         = {2013},
}