The Finnish Developmental State and its Growth Regime

Markus Jantti and Juhana Vartiainen

No RP2009-35, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper reviews Finland's growth strategy in the postwar decades. Finland was able to initiate an impressive mobilization of resources during this period, reflected mostly in a high rate of capital accumulation for manufacturing industries. This was achieved by an unorthodox combination of dirigiste means and a basic commitment to upholding the market economy. The state acted as a net saver, and credit was rationed to productive investment outlays.

Keywords: Credit; Economic development; Economic growth; Economic policy; Income distribution; Industrial productivity; International economic relations; Labour unions; Manufacturing industries; Welfare state (search for similar items in EconPapers)
Date: 2009
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