Lack of capital has for long, if not always, been perceived as one of the most important impediments to economic activity in Finland the Achilles heel of the Finnish economy. This volume takes a long-term perspective on this perception. It considers how the Finnish financial system and the...

The study investigates empirically how ownership affects firms domestic employment and its fluctuations. We look at six different ownership categories : first generation family businesses, second generation (or older) family businesses, state-owned companies, foreign-owned companies, publicly...

Our data concerning the whole Finnish company population from the years 2003-2008 suggest that the impacts of business subsidies on employment growth differ more between high-growth start-ups and other firms than between start-ups and over five years old incumbents. All subsidies seem to relate...

The study investigates, by using econometric evaluation methods, how the usage of Fin-pros (a public agency promoting internationalization of business) services impacts on the internation-alization and performance of small and medium-sized firms in Finland. We measure internationalization and...

Our empirical analysis using an extensive database on the allocation of busi-ness subsidies in Finland during the years 20042008 finds that large firms are less likely to exit support system and more likely to continue receiving both support from one organization only and simultaneous support...

We find that one third of Finnish employment is highly susceptible to computerization in the next decade or two. While this share is large, it is ten percentage points less than the corresponding share in the United States, which reflects cross-country differences in occupational structures. Low...

Our data from 351 innovating firms for the years 2001–2012 generally suggest that patentable ideas are strongly linked to the mobility of individual inventors, or that the knowledge flows transmitted are sticky inventor-specific. In other words, the larger the knowledge pool of an inventor...

We use data from 15508 Finnish companies with 10 or more employees for the years 2003-2008 to explore the relationship between employment growth and three endogenously determined business subsidy types (i.e. employment subsidy, R&D subsidy and other business subsidies). We find a positive...

Nokia’s ascent, dominance, and descent have resulted in significant labor inflows and outflows in Finland. In this paper, we document the aspects of these flows using official register-based data covering virtually all individuals and organizations in Finland. Our setup may be compared to a...

We summarize and compare previous studies considering the impact of R&D subsidies on firm-level labor productivity. These studies conclude quite consistently that the subsidies provided by Tekes do not have statistically significant impact on its client firms’ labor productivity. These studies...