OECD economic surveys Finland 2014.
This 2014 Economic Survey of Finland examines recent economic developments, policies and prospects. Special chapters look at ageing and local public finances.
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
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[Paris, France] :
OECD
2014.
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| Colección: | OECD Economic Surveys
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| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009706506606719 |
Tabla de Contenidos:
- Table of contents; Basic statistics of Finland, 2012; Executive summary; Main findings; Key recommendations; Reforms to cope with ageing; Fiscal policy and structural reforms; Local public finances and municipal reform; Financial policy; Innovation and green growth; Assessment and recommendations; Figure 1. Well-being in Finland is relatively high; Activity is picking up slowly but uncertainty remains high; Figure 2. Output is still well below previous peaks; Table 1. Macroeconomic indicators and projections; Figure 3. The labour market has held up relatively well
- The economy is undergoing deep restructuringGrowing sectors have not compensated losses in electronics and forestry; Figure 4. The share of electronic and forest products in output has collapsed; The challenge for Finland is to continue to benefit from integration in global value chains; Figure 5. Competitiveness has eroded; Figure 6. Finland was well integrated in global value chains; Innovation and green growth are being promoted but there is still scope for improvement; Figure 7. Policies are promoting green growth; Recommendations on innovation and green growth policies
- The financial sector is solid but remaining vulnerabilities should be addressedFigure 8. Financial conditions are supportive but credit growth is sluggish; Figure 9. Gross household debt and house prices have trended up; Figure 10. Overall leverage is high; Recommendations on financial policy; Some medium-term consolidation is warranted; Figure 11. The fiscal position is deteriorating; Structural reforms to boost growth and ensure long-term fiscal sustainability; Table 2. Estimated impact of structural reforms on the fiscal sustainability gap
- Recommendations on fiscal policy and structural reformsThe economic consequences of population ageing; Figure 12. Old-age dependency and pension costs are growing rapidly; Population ageing will put pressure on pension and health spending; Figure 13. Health and long-term care expenditure are projected to rise sharply; Ageing will also reduce labour supply and potential output growth; Figure 14. Indexing the retirement age to life expectancy could stabilise labour force participation; Strengthening other groups' labour market participation
- Recommendations on pension, health and labour market reformsEnhancing public sector efficiency; Municipalities are small and have broad responsibilities; Figure 15. Local government expenditure is high as a share of GDP; Figure 16. Fragmentation makes it difficult to rein in spending; Local government debt is drifting up, with widening differences across municipalities; Figure 17. Municipal debt is rising and unevenly distributed; Strengthening the fiscal framework; The reform of municipalities has the potential to generate efficiency gains
- Figure 18. Municipal costs are lowest at about twenty thousand inhabitants
