Academy of Finland funding to research on debt and debt relation

13 June 2013

The Academy of Finland’s Research Council for Culture and Society has decided to fund four multidisciplinary research projects on debt and debt relation. Three of the funded projects are consortia composed of several projects. The research themes cover debt and debt relation and related economic, political, cultural, legal and social connections.

Sabine Frerichs (University of Helsinki) is researching the recent move towards ‘Eurobonds’ as a means to share the burden of the Euro crisis. According to Frerichs, this development cannot be understood without considering the background of legal and economic relations that already oblige individuals and collectives with regard to one another across the continent. The project is expected to generate a more sophisticated understanding of the moral economy of debt in Europe.

Panu Kalmi (University of Vaasa) heads a consortium that is concerned to investigate how financial literacy affects financial behaviour. The consortium subproject is headed by Olli-Pekka Ruuskanen (University of Tampere). The aim is to study whether financially literate persons are less likely to fall into over-indebtedness. Another aim is to investigate whether financial literacy can be promoted through financial education. Kalmi will also do targeted experimental inventions among young people who are a particularly vulnerable group to fall into over-indebtedness.

Tuula Linna (University of Lapland) and her consortium are researching young people with debt problems. The consortium subprojects are headed by Anssi Keinänen (University of Eastern Finland), Anu Raijas (National Consumer Research Centre) and Kati Rantala (National Research Institute of Legal Policy). The aim is to analyse the debt problems of young people of different age groups and the roles of different actors and agencies in the formation and coping mechanisms of debt problems and the questions of responsibilities.

Tarmo Valkonen (Research Institute Finnish Economy) and his consortium will focus on debt relations and welfare financing in Finland. Valkonen and his consortium partner Juha-Pekka Junttila (University of Jyväskylä) will analyse debt and debt relations of individuals and the public sector in a welfare state and characterise the properties of private and public debt and implicit public liabilities. The consortium will also study household debt in a life-cycle perspective and assess the fiscal adjustments and determinants of risk premiums of public debt in various countries and the socialisation of private debts.

More information:

  • list of funded projects
  • Science Adviser Satu Huuha-Cissokho, Culture and Society Research Unit, tel. +358 29 533 5075, firstname.lastname(at)

Academy of Finland Communications
Communications Specialist Vesa Varpula
tel. +358 29 533 5131

Connect with us
Facebook  Twitter YoutubeLinkedInSlideshare
SWITCHBOARD +358 295 335 000
REGISTRY +358 295 335 049
FAX +358 295 335 299
OFFICE HOURS Mon–Fri 8.00–16.15