Economic Crisis of the 1990s: Reasons, Evenst and Consequences
Objectives
This research programme is concerned with the economic crisis that hit
Finland in the 1990s as an economic, political, social and cultural
phenomenon. The results are expected to provide useful information for
decision-makers.
The main focus in the programme is on the recent history of Finnish
business and industry, which presents researchers with an extremely
interesting case. Until the late 1980s the Finnish economy showed
exceptionally steady development. When this period of sustained growth came
to an end, output and employment declined in 1991-1993 more dramatically
than in any other industrial country since the Second World War. The
country's GDP decreased in real terms by 11.5 per cent.
The research projects in this programme address the following questions:
Was the recession that hit Finland merely an unfortunate coming together of
historical coincidences or an outcome of structural problems that had been
brewing for a longer period of time? Did the recession leave any permanent
scars on the Finnish economy? How does the picture that is drawn in the
mass media of recession affect people's expectations and world-view? How
does recession affect people's mental and physical well-being?
Themes
This programme explores the causes, events and consequences of the economic
crisis in Finland in the early 1990s from the point of view of several
different disciplines. Projects comprise both historical analyses and
international comparisons. Data are collected from public corporations,
business companies and from private households, using both documented
sources and people's recent experiences.
The projects in the programme look into the effects of the recession on the
following themes: the tasks and responsibilities of the public sector and
the political system, the welfare policy of the Nordic model, changes in
the workplace, households and people's values and attitudes, changes in the
business environment and the adaptation of action strategies.
Extent
The programme comprises 25 projects involving some 90 researchers in the
following organisations: the universities of Helsinki, Jyväskylä, Tampere
and Turku, the Swedish School of Economics and Business Administration, the
Research Institute of the Finnish Economy ETLA, the Labour Institute for
Economic Research, the Pellervo Economic Research Institute, the National
Research and Development Centre for Welfare and Health Stakes and the
Government Institute for Economic Research VATT.
Funding
The research programme is funded by the Academy of Finland and it has a
budget of EUR 4.2 million.
Duration
1998-2001
More information:
Resarch Programme for the Economic Crisis of the 1990s. Evaluation report.
Coordinator
Jaakko Kiander
Government Institute for Economic Research VATT
POB 269 (Hämeentie 3)
FIN-00531 Helsinki
Tel. +358 9 703 2955
jaakko.kiander@vatt.fi
Research programme pages
Academy of Finland
Scientific Secretary Tiina Forsman
Culture and Society Research Unit
Vilhonvuorenkatu 6
PO Box 99
00501 Helsinki
Tel. +358 9 7748 8349
Fax +358 9 7748 8388http://www.vatt.fi/english