Finland as a Member of European Union - First Experiences

Reino Hjerppe (), Iikko Voipio and Pekka Mäkelä

No 180, Discussion Papers from VATT Institute for Economic Research

Abstract: In 1992 we published estimations about the probable effects of the EU membership on the Finnish economy. The profound economic shock of the early 1990s has made the assessment of the economic impact of Finland?s EU membership a difficult task. Nonetheless, the basic trends in relative prices, changes in foreign trade distribution, and developments in the production structure were estimated rather accurately. The structure of relative prices in Finland no longer deviates from that in the EU as much as it had in the early 1990s. Developments particularly in agriculture have proven to be less severe than forecasted. Instead, the major challenges currently facing both Finland and the EU are adjustment to the EMU and eastern enlargement.

Keywords: European integration, Finland?s membership in EU, production structure, relative prices, regional distribution of foreign trade, Macroeconomic policy, Talouspolitiikka, International comparisons, Kansainväliset vertailut, Taxation, Verotus, Effectiveness of public services, Julkisten palvelujen vaikuttavuus, E310 - Price Level; Inflation; Deflation, E520 - Monetary Policy (Targets, Instruments, and Effects), F020 - International Economic Order; Noneconomic International Organizations; Economic Integration and Globalization: General, H200 - Taxation, Subsidies, and Revenue: General, (search for similar items in EconPapers)
Date: 1998
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