Economic Prosperity Recaptured – The Finnish Path from Crisis to Rapid Growth (CESifo Book Series)

Book Details:

• Publisher: MIT Press

• Author: Seppo Honkapohja

• Language: English

• Edition: 1st Edition

• ISBN: 9780262012690

• Pages: 168

• Cover: Hardcover

• Dimensions: 9.1 x 6.2 x 0.7 inches

• Weight: [Weight not specified]

About The Book:

Economic Prosperity Recaptured by Seppo Honkapohja, published by MIT Press in 2009, offers an insightful and detailed analysis of Finland's remarkable economic journey. The book focuses on the dramatic economic changes Finland experienced, particularly following the deregulation and liberalization of financial systems in the late 20th century. It examines Finland’s rapid economic swings, from overheating in the late 1980s to a deep financial crisis in the early 1990s, and its subsequent recovery and growth since the mid-1990s.

Honkapohja explores the key policy responses during Finland's complex road to recovery, highlighting both successful and unsuccessful strategies. Special attention is given to the role of the "credit channel" of the monetary system and how structural transformation into a high-tech economy, exemplified by the success of Nokia, played a significant role in Finland’s economic resurgence. The book sheds light on the crucial role that well-designed economic policies, including those focusing on information and communication technology (ICT), played in Finland’s economic turnaround.

This book is an essential read for those interested in global economic policy, financial systems, and the factors that contribute to national economic success in the face of crisis.