Why the impact on Finland of the collapse of Nokia’s mobile phone business and the Russian economy has been surprisingly small
Think tank Magma in cooperation with the Bertil Ohlin Institute in Sweden invites you to the launch of a new report and a book on
Wednesday, March 18, 2015 at 12.00 – 13.15 at Café Esplanad, Pohjoisesplanadi 37, in Helsinki
With the rise of Nokia mobile phones, the Finnish economy increasingly relied on the success of a single company. As exports of telecom equipment collapsed to practically zero, the global economy simultaneously experienced its deepest recession after World War II. This was followed by the downturn in the economy of Finland’s largest trading partner, Russia.
Considering that the Finnish economy has suffered several shocks the consequences have been relatively mild. The living standard of the average Finn has suffered fairly little and unemployment remains on single digit levels.
In Managing the Nokia Shock economist Roger Wessman explains why this has been the case, touches upon the lessons of the experiences and tackles the unavoidable question: Where is Finnish growth going to come from in the future?
12.00 Opening of the seminar Björn Sundell, Head of Research, Think tank Magma 12.10 Managing the Nokia shock, Roger Wessman, independent economist 12.30 Conditions for growth, Karl Wennberg, Professor, Stockholm School of Economics & board member at the Bertil Ohlin Institute
A light lunch will be served from 11.50. Welcome!