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Article: In Sweden's wake. (economies of Finland, Norway, Denmark and Iceland compared to Sweden) (Survey on the Nordic Countries)
- Article from:
- The Economist (US)
- Article date:
- November 5, 1994
CopyrightCOPYRIGHT 1994 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FLIGHTS from Stockholm to Helsinki these days carry a procession of Swedish economists, off to compare and contrast their country's woes with those of their erstwhile dependency. The experiences have been surprisingly similar.
The two economies have long shared a number of undesirable characteristics. Finland, like Sweden, has had tough trade unions and a centralised pay-bargaining system. Both countries have become used to a regime of high employment, bought partly at the expense of the exchange rate. The markka has lost even more of its value over the past 20 years than the krona. Both countries have suffered from repeated doses of inflation.
Finland's ...