<title>Abstract</title> This paper offers a concise critical overview of Okun's Law, with particular attention for its relevance in open economic systems of regions. Based on an extensive set of economic data for Finnish regions, the existence of cointegration is tested using alternative statistical methods,...

The present paper evaluates the quantitative impact of a pharmaceutical reform on pharmaceutical prices. A generic substitution policy was introduced in Finland in 2003 to contain rising pharmaceutical expenditure. After the reform pharmacists were obliged to propose a cheaper alternative to a...

This paper addresses the issue of technogenesis and investigates in an exploratory way whether local factors are important for innovativeness of firms. Particular attention is given to the knowledge base of cities. The paper aims also to model effects of relevant local factors on innovativeness...

This article analyses regional labor market adjustment in the Finnish provinces during 1976-2000. We investigate the inter-relations of employment, unemployment, labor force participation, and migration to see how a change in region-specific and total labor demand is adjusted. The analysis...

This article investigates regional variations in firm formation in Finland between 1989 and 1993, and estimates the effects of regional factors on firm formation utilising panel and cross-sectional data. Panel data evidence shows that the average size of firms and establishments in the...

This paper estimates β convergence across the 88 Finnish small-scale subregions from 1934 to 1993 using taxable per capita income as an indicator of income level. The results resemble those obtained in other studies for larger areas: regional β convergence in Finland has been about 2% per year...