This book is an outcome of a joint project by The Nordic Perspective Group, formed by four Nordic research institutions: ETLA in Helsinki, IFF in Copenhagen, IUI in Stockholm and NØI in Bergen.
The Nordic economies are small in size but among the most prosperous in relative terms by most international standards. They form an area exhibiting close-knit economic relations, similar welfare levels, and a common cultural and social background. Alongside the similarities there are important differences across the Nordic economies: in the company and industry structures, in the recent growth performance, and in the economic and industrial policies. Hence, the economic prospects for these countries exhibit divergent patterns.
The book has two main themes-growth and integration. Growth performance and prospects are dealt with in detailed country surveys. Forecasts up to 1993 are presented. The challenges and opportunities posed by the 1992 European integration process for the Nordic economies are studied from several points of view: labor and capital markets, trade, firm behavior and fiscal harmonization. The basic question is: how are the Nordic countries affected by the integration process given the similarities and differences in their economic structure and performance?