The Nordic Economic Model

The Nordic Economic Model
Case Code: ECON026
Case Length: 19 Pages
Period: 1950 - 2007
Pub Date: 2008
Teaching Note: Not Available
Price: Rs.300
Organization : -
Industry : -
Countries : Norway, Denmark, Finland, Iceland, and Sweden
Themes: -
The Nordic Economic Model
Abstract Case Intro 1 Case Intro 2 Excerpts

Abstract

The Nordic economic model, characterized by market-based economies and generous welfare systems, seemed to be working well, with the countries in the region figuring at the top of various lists that ranked countries on the basis of human development, per capita income, economic freedom, etc. The case discusses the history of the Nordic economies over the years. It then explains the main features of the Nordic economic model and goes on to examine some of the reasons behind the global competitiveness of the Nordic economies. The case also recounts some challenges that these countries face as well as the criticisms of the welfare model adopted by these countries. The case ends with a brief discussion on the outlook for these countries.

Issues

The case is structured to achieve the following teaching objectives:

  • Understand the evolution of Nordic economies
  • Analyze the reasons behind the competitiveness of the Nordic economies
  • Evaluate the sustainability of the welfare policies adopted by Nordic economies
  • Analyze the future of the Nordic region in the light of challenges such as aging populations, globalization, etc.

Contents

Keywords

Nordic economic model, Welfare state, Competitiveness of Nations, Government policy, High tax rates and economic growth, Pension reforms, Aging population, Denmark, Norway, Sweden, Finland, Iceland

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