Reform Capacity And Macroeconomic Performance In The Nordic Countries
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Reform Capacity and Macroeconomic Performance in the Nordic Countries
The outbreak of the financial crisis in 2008 has had significant effects on economic activity, unemployment, and public finances for all European countries. However, European economies do not form a homogenous region, and any serious analysis of macroeconomic imbalances in Europe must account for the fact that different economic and political models and circumstances operate across the continent. This book focuses on the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden) which have a relatively good record of undertaking fiscal and structural reforms after their own financial and debt crises in the 1980s and 1990s. The Nordic countries are small and open economies, well-known for their high income levels, high employment rates, organized labour markets, a relatively equal distribution of incomes, and large public sectors. From this perspective, the book asks whether there are lessons that might be learned from the Nordic economies. Is there a distinctive Nordic model that could be usefully followed, by other small open economies, in terms of fiscal and monetary policy design, labour market policies and reforms, and financial and housing market regulation? It is inappropriate to define the Nordic model in terms of a common set of policies. Since the key characteristics, including the overarching objectives and supporting institutions, have strong historical foundations, copying and pasting them to other countries is not easily done. Even though the Nordic experiences are not directly transferable, they may add new knowledge about the importance of institutional design, fiscal consolidation, and structural reforms not only for macroeconomic performance but also for how to preserve key objectives such as social balance and equity.
The Routledge Handbook of Scandinavian Politics
The Routledge Handbook of Scandinavian Politics is a comprehensive overview of Scandinavian politics provided by leading experts in the field and covering the polity, the politics and the policy of Scandinavia. Coherently structured with a multi-level thematic approach, it explains and details Scandinavian politics today through a series of cutting-edge chapters. It will be a key reference point both for advanced-level students developing knowledge about the subject, as well as researchers producing new material in the area and beyond. It brings geographical scope and depth, with comparative chapters contributed by experts across the region. Methodologically and theoretically pluralistic, the handbook is in itself a reflection of the field of political science in Scandinavia and the diversity of the issues covered in the volume. The Routledge Handbook of Scandinavian Politics will be an essential reference for scholars, students, researchers and practitioners interested and working in the fields of Scandinavian politics, European politics, comparative politics and international relations.
Creative Co-evolution of the Economies and Welfare States in the Nordic Countries
This book analyses the changes of welfare states, examining their sustainability enabled by innovative adaptations. On the basis of evolutionary social sciences, the authors understand the welfare states as complex adaptive systems, in which the actors’ perceptions, strategies and behaviours change in adaptive manners, which results in institutional changes. From this perspective, the dynamics of Nordic welfare states, mainly Finland as the Nordic welfare state under the greatest pressure to adapt, is analysed from the multiple perspectives of history, politics, economics and social policy. Through these analyses, the authors show that the long-term changes in welfare states can be creative evolutionary processes in which the experiences, cognitive frameworks, resources and capacities of different actors allow for diverse responses and, as a result of interaction, diverse outcomes. The book also illustrates the historical processes of welfare states’ formation that have created the human and social resources and capabilities that enable innovative responses today.