The slowdown in Finnish productivity growth: Causes and consequences

Sara Calligaris, Outi Jurvanen, Auri Lassi, Francesco Manaresi and Rudy Verlhac

No 139, OECD Science, Technology and Industry Policy Papers from OECD Publishing

Abstract: This report analyses the trends in Finnish productivity growth over the 2000s and 2010s. It describes its key features, makes comparisons to a benchmark of 16 OECD countries, and studies the causes of its sudden and prolonged slowdown which began at the end of the 2000s. The analysis focuses on the role of two contemporaneous demand shocks that hit the Finnish economy: the Nokia crisis and the Great Trade Collapse of 2009.Matching detailed firm-based information on structural characteristics of productivity growth with global input-output tables and National Accounts data, the report highlights how the prolonged drop in demand from the domestic computer and electronics sector may have induced a persistent drag on Finnish productivity growth. The report concludes with policy implications to strengthen Finnish resilience to idiosyncratic shocks to key sectors or large firms, while supporting long-term productivity growth and competitiveness.

Keywords: GVCs; productivity (search for similar items in EconPapers)
JEL-codes: E22 E65 O47 (search for similar items in EconPapers)
Date: 2023-02-16
New Economics Papers: this item is included in nep-eff and nep-int
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:oec:stiaac:139-en

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