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    Published : 2023-12-31
    Vol. 16 No. 2 (2023)

    The Conditions and Consequences of Knowledge-Based Economy on the Example of Finland

    Halyna Petryshyn

    https://orcid.org/0000-0002-5385-3766

    DOI: https://doi.org/10.56583/fs.2063

    Abstract

    Finland ranks as the most competitive economy in the world. It has occupied the first position in the ranking of the World Economic Forum for the last few years. The Finnish economic miracle is a phenomenon, and it still compels admiration among economists around the world. In order to better know and understand the factors that have led to the creation of the Finnish economic miracle, it is necessary to know the history of the development of the Finnish economy. The aim of the article is to try to answer the question of how such a small Scandinavian country has transformed its economy into a hothouse of innovation and what path to prosperity it has chosen. In his research, the author concentrates on the history of the development of the Finnish economy from the end of World War II to the present day. The economic crisis that started in the late 1980s revealed a number of challenges and threats faced by the Finnish economy. It became an important test of the mechanisms of the country’s new economic policy. It was also an indicator of the effectiveness of the actions taken to mitigate the effects of the crisis and restore economic stability.

    Keywords:

    Finland, education system, Finnish economic miracle, knowledge-based economy



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    Petryshyn, H. (2023). The Conditions and Consequences of Knowledge-Based Economy on the Example of Finland. Facta Simonidis, 16(2), 363–380. https://doi.org/10.56583/fs.2063

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    Wydawnictwo Akademii Zamojskiej
    ul. Pereca 2, 22-400 Zamość
    tel.: +48 84/638 34 44;
    tel. kom. +48/ 790 331 087
    fax: +48 84/ 638 35 00
    University
    Akademia Zamojska
    ul. Pereca 2, 22-400 Zamość
    tel. 84 638 34 44
    fax 84 638 35 00
    e-mail: rektorat@akademiazamojska.edu.pl
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