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Finland

In: Business and Management

Submitted By yahir09
Words 1689
Pages 7
Finland: Middle Term Exam

Introduction
This paper talks about Finland and describes its economy over time, let's see what kind of products imports and its economic growth and as created new technologies to improve its GDP, as finland utilized their natural resources in a successful manner and apart hence I think one of the most prodigious world economies.
1.- Diversification and Ubiquity
Finland is a country with many natural resources and much of its economy depends on it such as logging, paper companies, the working of metals, but has also evolved and has been the emergence of companies with a large technology as nokia, Finland is a country that relies on new technologies and continues to improve its companies logging, mineral exploitation, so you can not qualify to Finland as a country with one type of technology, Finland uses the environment for profit and improve their business more technology to continue to export to almost everyone, the most dynamic Economic Sector of Finland are the industry of wood, metals, engineering, telecommunications and electronics industries, together with the design. Except for timber and some minerals, Finland depends on imports for supplies of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to self-sufficiency in basic products. Forestry, is important for export and provides a secondary occupation for the rural population, Finland has a highly industrialized economy based primarily on free market economy with a per approximate to that of Austria, Belgium capita Countries Netherlands and Sweden. Trade is very important given that exports have accounted in recent years more than a third of GDP to note are the high-tech exports such as mobile phones. And except for the mineral, wood, etc. Finland depends on imports of raw materials, energy, and some components for manufactured goods manufacturing is highly competitive - mainly wood, metals, engineering, telecommunications and electronics. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic forestry products, is an important source of export revenue, provides a secondary occupation for the rural population.
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2.-Export Sophistication
Finland has transformed its economy in a matter of decades to become one of the richest countries and most stable societies in the world. In the 1950s the Finnish economy was still largely based on primary production and an agrarian workforce but today Finland is leading or near the top of most international comparisons in terms of growth and development in the economic, technological and social spheres the largest sector of the Finnish economy is services at 65 %, followed by manufacturing and refining at 31 %. Primary production is at 3 %. Finland’s main industrial products are paper and board, electronics and metal products. The engineering and high technology industries, led by Nokia, have long been the leading branches of manufacturing, the 3 largest Economic Sector of Finland in the late 90s were the pulp and paper, wood products and machined metal products. Because this nation had large forests and land for planting timber trees, the cluster of the pulp and paper was the one who had the most growth. Finland had a financial market characterized by great relationships between companies and banks, the Finnish corporatism was dominated by large diversified groups such as Valmet, Nokia and Ahlström. In the 80s, economic growth was achieved by high government spending was growing and led to inflationary pressures, Finland invested public spending on research and development, the National Technology Agency Tekes was founded in 1983 and became the main engine technology policy. Norway and Sweden, had released its financial markets, so that Finland did the same in the mid-80s, making it easier for the banks to make loans, the Senate of Finland grant permissions to several telephone operations, the government established a national operator public telephone responsible for operating the left by Russia, the Enterprise Program was focused on developing innovative capacity in industrial firms, with the support of the agency's research and development in a study highlighted the role of government as creator network conditions favorable environment for inter organizational cooperation with the accumulation and transfer of knowledge, these policies during the 90s reformed the close relationships between banks and firms and venture capital emerged in part due to government-sponsored incubators. and in 1995, together with Sweden became a member of the European Union for 1999, the transformation of the Finnish economy was composed of leading sector in electronics and telecommunications leader, followed by pulp and paper, chemicals, machinery and equipment with the 3 largest growing export sectors. In the early 90s the growth of Nokia contributed to 1% of GDP for Finland reached almost 5% annual growth. The Finnish telecommunications sector was holding a standard competition law and consumer protection. Since the late 90s, parliament forced the government to leave the business of telecommunications. Combining wireless technology with wired telephone systems led to the growth of mobile telecommunications resulting in sales of 500 million handsets in 2001 worldwide industry, although its use was more pervasive in the Nordic countries above 70% in 2000 in 2001, there were already mobile networks in approximately 150 countries and the most advanced nations were beginning to install a standard global network. Nokia developed its own CDMA phone instead of purchasing licenses to use existing technology to then jump right into a strong competition for third generation standards, one of these standards already involved the use of Internet. His research efforts have focused on the smart phones with MMS, Internet access and download information from the Web. In 2001, the Finnish telecommunications cluster was slowing significantly, seeing their incomes reduced and added to the shortage of trained scientists and engineers facing the country profit.

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3.-Public Policies
The main success of Finland is its high level of political stability in all aspects of policy indicators as state legitimacy, public services, human rights and the rule of law, the results are exceptionally good other measurements corroborate this perception. Economically, Finland also appears to have weathered the problems experienced by other European countries, with results almost unchanged the local economy and the strength of its economy based on an export model that has in the Nokia brand one of its major symbols, it results in a high quality of life indices, Finland, often mentioned as an example for its financial performance and its achievements in terms of competitiveness and innovation, however, has to overcome problems of recent global crisis and the euro area. Having contracted for the second consecutive year in 2013 the Finnish economy is expected to start again in 2014. The global financial crisis and the stimulus have had a profound and lasting impact on public finances and debt levels. The latter could double in a decade. The biggest challenge facing the government is the combination of steps to boost growth with adjustment measures that allow rebalance accounts measures. In 2013, the trade volume decreased as consumption undermined by measures authority. The 2014 budget of the coalition government gives priority to the reduction of poverty, inequality and social exclusion, consolidation of public finances; and support sustainable economic growth, employment and competitiveness. The government expects exports to help stimulate the resumption of the economy. The country also faces challenges such as energy problem, the household debt, environmental protection, education, research, business development and aging of the population. Indeed, Finland is the leading European country affected by the aging population and shrinking active population with a GDP per capita among the highest in the world, Finland offers a high standard of living. The income distribution is fair, but inequality has grown considerably in recent years. Due to the effects of the crisis, the unemployment rate has also increased significantly.

4.-Society

Finns experience a high quality of life, low levels of corruption, high literacy rates, a small income gap, wide access to health care, high life expectancy rates and a healthy work-life balance. But there are other, more personal factors that help paint a fuller picture of the levels of happiness or unhappiness in a particular country. Finland’s Well-being profile, for instance, scores especially high in the “Absence of Negative Feelings” category, but just a bit above average in the Positive Feelings category. This actually says a lot about Finnish culture, where the emotional range is more modulated in the sense that they’re humming along at fairly high levels, but don’t have these peaks and valleys that other European countries have score higher on happiness. There’s one thing that happiness studies seem to leave out, however. Some of the happiest countries in the world – Finland, Denmark, Iceland, Switzerland and the United States, for instance also have the highest suicide rates in the world. Cold weather and darkness are often blamed for high rates of depression in Finland, but in the US, sunny Hawaii, which ranks second nationally in life satisfaction, has the fifth highest suicide rate. Conversely, These were the findings of the research paper Dark Contrasts: The Paradox of High Rates of Suicide in Happy Places, published in the Journal of Economic Behavior and Organization this April. Its authors, who hailed from the UK and the US, believe that these stark extremes exist together because people often judge their well-being in comparative terms. The researchers say that a depressed person may become even more depressed when surrounded by especially happy people.

5 Conclusion

I learned that can understand more the economy seeing a country and its ways of producing and developing things, learned how one can measure the productivity of the country and see what it produces is an example of their development, the more products encompass achieved as in this case Finland, has greater economic stability, which have large companies is not bad if you have a good government that helps companies improve and does not harm the environment, do good and make reforms Opportunities & best population and also the country I saw has the best level of education in the world and is something that once in their quality of life, business, and government.

References:

www.wto.org

www.atlas.cid.harvard.edu

www.businessinsider.com

www.bbc.com…...

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