Finland’s economic development
E804986
Finland’s economic development refers to the country’s long-term transition from a resource-based, agrarian economy to a diversified, high-income welfare state with strong education, technology, and social security systems.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Finland’s economic development canonical | 1 |
Statements (79)
| Predicate | Object |
|---|---|
| instanceOf |
economic development process
ⓘ
macroeconomic phenomenon ⓘ |
| affectedBy |
1990s banking and economic crisis in Finland
ⓘ
Continuation War NERFINISHED ⓘ Winter War NERFINISHED ⓘ collapse of the Soviet Union ⓘ global financial crisis of 2008 ⓘ independence of Finland in 1917 ⓘ war reparations to the Soviet Union ⓘ |
| challenge |
ageing population
ⓘ
decline of traditional manufacturing industries ⓘ dependence on a few large export companies ⓘ regional disparities ⓘ structural unemployment ⓘ |
| country | Finland ⓘ |
| currencyAdoption | euro ⓘ |
| educationFeature |
comprehensive school reform in 1970s
ⓘ
high tertiary education attainment ⓘ strong vocational education and training system ⓘ |
| environmentalFeature |
climate policy aligned with EU targets
ⓘ
high share of renewable energy in energy mix ⓘ sustainable forest management policies ⓘ |
| exportOrientation | high share of exports in GDP ⓘ |
| historicalPhase |
ICT-led growth in 1990s
ⓘ
agrarian society in 19th century ⓘ post-World War II reconstruction ⓘ post-industrial service economy in 21st century ⓘ rapid growth in 1950s and 1960s ⓘ rapid industrialization in late 19th and early 20th century ⓘ shift to knowledge-based economy in late 20th century ⓘ structural change from agriculture to industry and services ⓘ |
| incomeLevel | high-income country ⓘ |
| keyDriver |
export-led growth
ⓘ
industrialization ⓘ integration into global markets ⓘ investment in education ⓘ investment in research and development ⓘ technological innovation ⓘ urbanization ⓘ |
| keyInstitutionalFeature |
collective bargaining system
ⓘ
comprehensive social security system ⓘ progressive taxation ⓘ publicly funded education ⓘ publicly funded healthcare ⓘ regional development policies ⓘ strong labor unions ⓘ tripartite cooperation between government, employers and unions ⓘ universal welfare state ⓘ |
| keySector |
chemical industry
ⓘ
electronics industry ⓘ forestry ⓘ information and communications technology ⓘ machinery manufacturing ⓘ metal industry ⓘ pulp and paper industry ⓘ services sector ⓘ shipbuilding ⓘ telecommunications industry ⓘ |
| membership |
European Union
NERFINISHED
ⓘ
Eurozone NERFINISHED ⓘ |
| policyInstrument |
active labor market policies
ⓘ
education policy ⓘ fiscal policy ⓘ income policy agreements ⓘ industrial policy ⓘ innovation policy ⓘ regional policy ⓘ |
| R&DIntensity | high share of GDP spent on research and development ⓘ |
| strength |
high educational attainment
ⓘ
high level of social cohesion ⓘ high quality of governance ⓘ low corruption ⓘ strong innovation system ⓘ |
| transitionFrom |
agrarian economy
ⓘ
resource-based economy ⓘ |
| transitionTo |
Nordic welfare state model
ⓘ
diversified economy ⓘ high-income economy ⓘ |
| welfareStateModel | Nordic model NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.