The world is witnessing growing turbulence stemming from geopolitics and a tangible threat of economic disintegration. There are some indications of globalization in retreat, international trade growth slowing down and a transition from optimizing efficiency of global value chains towards...

This paper tries to find an answer to the question of why has Finnish exports performed so poorly during the last two decades. It also tries to assess the related question of why is the level of openness of the Finnish economy much lower than in neighboring countries and countries with similar...