Browsing by Subject "Finland"

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  • Bank of Finland (2015)
    Bank of Finland. Bulletin 5/2015
    The Finnish economy is still in a difficult situation. During the forecast period, the return to growth will be very sluggish and much slower than in the rest of the euro area. Developments in Finland’s export markets now look weaker than previously forecast, and as a result foreign trade will give little stimulus to the economy in the immediate years ahead. During the forecast period, growth will depend on domestic demand. In 2016, the Finnish economy will grow 0.7%, followed by 1.0% in 2017. Risks to the forecast are predominantly on the downside and productivity development will be weak.
  • Kotilainen, Markku; Peura, Tapio (1988)
    Bank of Finland Research Discussion Papers 33/1988
    Finland's participation in the deepening European integration means a considerable change in her economic policy setting. Liberalization of capital movements and financial services will increase interest and exchange rate sensitivity. To maintain stability, tighter coordination of economic policies is required. The integration of Finland's foreign trade and the markets of the factors of production with the EC will cause pressures to adjust Finland's exchange rate regime to the changing conditions. Of the available alternatives participation in the European Monetary System (EMS) would seem to be excluded for political reasons. In practice, the alternatives to be considered are the pegging of the markka to the ECU basket of the EC countries, or the increase of the weight of the EC countries' currencies in the present basket. At the moment there is no need for changing the weights. The need for change would, however, increase if other EFTA countries joined the EMS or pegged their currencies to the ECU, or if the importance of the US dollar for the Finnish economy substantially decreased.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 5/2017
    The global economy is still enjoying strong and broadly based growth. A growth spurt was seen in world trade in 2017, reflecting in part an upward correction from a lacklustre previous year. Consequently, the growth in world trade has accelerated past that of global GDP for the first time in several years. Many economies continue to support growth through accommodative financing conditions and stimulus measures. In the advanced economies, a return to conventional monetary policy has been delayed by persistently low inflation, although this does now appear to be accelerating somewhat.
  • Bank of Finland (2018)
    Bank of Finland. Bulletin 3/2018
    The global economy is still growing strongly, but there are already small signs that the growth rate is levelling off. Growth is still sustained by the effects of the accommodative fiscal policy in the United States and brisk growth in emerging economies. The rising oil price has boosted the economies of oil-producing countries for almost a year. All the while, concerns over the rise of protectionism have increased uncertainty. The growth prospects for the euro area remain good, although the first quarter of 2018 turned out weaker than anticipated – probably due to temporary factors. It is possible that the euro area has reached the peak of the business cycle and growth rates will rise no further. Slower growth in the euro area in 2019 has long been included in the predictions of several major forecasters.
  • Bank of Finland (2021)
    Bank of Finland. Bulletin 3/2021
    Economic growth will gather pace across the board as the pandemic eases. Strong consumer confidence, together with the release of pent-up demand, will support household consumption. Finnish exports will rapidly rise back towards pre-pandemic levels as export markets revive, with investments also supporting economic growth. The Finnish economy will grow 2.9% in 2021 and 3.0% in 2022. This fast pace of growth will, however, be only temporary, and in 2023, GDP growth will slow to 1.3%, reflecting the lacklustre longer-term growth prospects of an ageing economy.
  • Bank of Finland (2021)
    Bank of Finland. Bulletin 6/2020
    The economic downturn in 2020 will be smaller in Finland than in the rest of the euro area, but this winter will still be difficult. COVID-19 will gradually be left behind in the course of 2021 due to the vaccines, and household consumption will drive growth of 2.2% in the Finnish economy. Growth will strengthen to 2.5% in 2022. At the end of the forecast period in 2023, the economy will return to a slow 1.5% growth rate reflecting the long-term sluggish growth conditions.
  • Bank of Finland (2015)
    Bank of Finland. Bulletin 5/2015
  • Bank of Finland (2015)
    Bank of Finland. Bulletin 5/2015
    Growth in corporate investment and exports is expected to be reflected in slowly improving output in the immediate years ahead. Nevertheless, owing to increased uncertainties in the global economy, there is a possibility that exports will not yet begin to rebound. On the other hand, the pick-up in domestic investment may be jeopardised if competitiveness problems cannot be resolved and the high degree of uncertainty surrounding fiscal consolidation persists. For these reasons, another possibility is that economic activity in the immediate future will be weaker than forecast.
  • Bank of Finland (2019)
    Bank of Finland. Bulletin 3/2019
    Forecast tables for the Finnish economy in 2019–2021 (June 2019).
  • Bank of Finland (2020)
    Bank of Finland. Bulletin 6/2020
    COVID-19 will gradually be left behind in the course of 2021 due to the vaccines, and private consumption will generate growth of 2.2% in the Finnish economy. This will strengthen to 2.5% in 2022.
  • Bank of Finland (2021)
    Bank of Finland. Bulletin 3/2021
    The Finnish economy will grow 2.9% in 2021 and 3.0% in 2022. This fast pace of growth will, however, be only temporary, and in 2023, GDP growth will slow to 1.3%.
  • Bank of Finland (2018)
    Bank of Finland. Bulletin 5/2018
    Forecast tables for the Finnish economy in 2018–2021 (December 2018).
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 3/2017
    The uncertainty surrounding the outlook for the global economy has decreased, and the global economy is forecast to grow by over 3% in 2017–2019, i.e. somewhat faster than in 2016. Global trade, in turn, is expected to pick up slightly over the forecast period, following lacklustre developments in 2016.
  • Bank of Finland (2015)
    Bank of Finland. Bulletin 3/2015
    Global economic growth will gain momentum in the forecast period. The sliding oil price will benefit oil-importing countries. In the euro area, the Extended Asset Purchase Programme (EAPP) has reduced funding costs, improved lending and strengthened the confidence of economic agents. The exchange rate developments to date support the growth and inflation outlooks of the euro area and Japan, while the recovery of the US economy is consistent with the strong US dollar. The Russian economy will contract over the next two years, following the collapse of the oil price. Economic growth in China will remain relatively robust.
  • Kinnunen, Helvi; Oinonen, Sami (2016)
    Bank of Finland. Bulletin 3/2016
    Finland is now facing problems similar to those with which Japan has already struggled for more than a decade. The population is ageing, and slow economic growth is not generating sufficient funds to cover swelling public expenditure. General government debt threatens to become unsustainable. From the perspective of Finnish economic policy, an examination of the situation in Japan emphasises the importance of structural measures. If decisions on reforming the structures of the economy are postponed far into the future, in the light of Japan’s experiences this may result in reduced growth and employment, with consequent high costs.
  • Vanhala, Juuso; Virén, Matti (2016)
    Bank of Finland. Bulletin 3/2016
    The establishment and growth of new firms is important for job creation, but companies are not all the same. A small number of firms create a significant portion of new jobs, while in a large portion of firms job creation remains limited or the number of jobs is actually decreasing. New firms include a relatively high number of ‘gazelles’, firms that increase the number of jobs at a rapid pace. At the same time, however, only a small portion of new firms survive the ‘valley of death’ of the first years following entry. It is difficult to identify rapidly growing businesses in advance, and high growth at the outset does not typically predict high growth in the future.
  • Financial Supervisory Authority; Supervision of Markets and Conduct of Business (2017)
    Financial Supervisory Authority. Market newsletter 1/2017
    Topical matters at ESMA 1 Models for notifying managers’ transactions 1 On the emergence of inside information and establishment of insider lists 2 Regulation on revenue recognition of listed companies will change in 2018 – investors expect information on the changes 3
  • Financial Supervisory Authority; Supervision of Markets and Conduct of Business (2017)
    Financial Supervisory Authority. Market newsletter 2/2017
    ESMA clarified definition of managers’ closely associated entities 1 Three prospectus exemptions under the new Prospectus Regulation to be applied as of 20 July 2017 2
  • Kajanoja, Lauri (2017)
    Bank of Finland Bulletin. Analysis
    How should we measure cost-competitiveness in Finland? A look at cost-competitiveness indicators in use at the Bank of Finland.
  • Kauko, Karlo; Loman, Tanja; Mäki-Fränti, Petri; Salenius, Tommi; Vauhkonen, Jukka (2021)
    Bank of Finland. Bulletin 1/2021
    The economic shock caused by the COVID-19 pandemic has reduced demand for goods and services offered by Finnish companies. Accommodation and catering services, in particular, have faced severe difficulties. The risks of corporate loans to banks and other corporate lenders have increased. The heightened risk has not, however, been reflected much in the average interest rates on new corporate loans from banks. So far, no significant amounts of credit losses have incurred from corporate loans, but payment-term arrangements have been used extensively.