Balancing east and west: Evidence from Finland’s regional GDPs, 1880–2010
During the last two centuries, Finland has undergone a dramatic transformation: from one of Europe’s poorer and more peripheral countries, to a fast-growing high-tech economy. Finland has proven successful in reaping the benefits of openness to trade by moving up the value-added ladder. The country went from being a supplier in furs and tar in the pre-industrial era, to industrializing by exportin