What can developing countries learn from Finland's industrial transformation?
WIDER Angle › Nbr. 2009, January 2009
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What can developing countries learn from Finland's industrial transformation?
Finland is an example of a late but successful state-led industrialization that was carried out rapidly. The economic policy strategy that achieved this was a judicious mix of heavy governmental intervention and private incentives. Governmental intervention aimed at a fast build-up of industrial capital in order to ensure a solid manufacturing base. At the same time, however, it was made clear that the aim of heavy-handed state intervention was not to establish a planned economy as a perman...
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