Economics of the Northern Dimension ETLA, The Research Institute of the Finnish Economy The Institute was founded in 1946 to conduct research in the fields of economics, business and social policy designed to serve financial and economic policy decision making in the organisations sponsoring the Institute, Finnish companies and the entire economy. At present the members of the association sponsoring ETLA are the Confedera- tion of Finnish Industry and Employers, the Central Association of Insurance Companies, the Employers’ Confederation of Service In- dustries in Finland, Leonia Bank plc, Merita Bank plc, OKOBANK Group, Finnvera Corporation, Kesko Corporation and SOK Corpo- ration. ETLA conducts economic forecasting and analysis of economic policies in the international and Finnish economy, both on an aggre- gate and sectoral level, in the short and medium run. The other main activity is research in six programmes: Industrial Economics and In- ternational Business; Technology, Competence and Competitiveness; European Integration; Labour Economics; Finance and Macroeco- nomics; and Environmental Economics. ETLA also conducts special studies financed from sources outside the association. ETLA pub- lishes monographs, reviews and forecasts in several different series. The Institute has two subsidiaries, Etlatieto Ltd., which is ETLA’s project research and information services unit, and Taloustieto Ltd., a publishing company. ETLA, The Research Institute of the Finnish Economy Krister Ahlström, President of the Council of Supervisors Jussi Mustonen, Chairman of the Board of Management Pentti Vartia, Managing Director of the Institute Address: Lönnrotinkatu 4 B, 00120 Helsinki, Finland Tel: + 358-9-609900 Fax: + 358-9-601753 Internet: www.etla.fi E-mail:
[email protected] ELINKEINOELÄMÄN TUTKIMUSLAITOS The Research Institute of the Finnish Economy ETLA LönnrotinkatuELINKEINOELÄMÄN 4 B 00120 HelsinkiTUTKIMUSLAITOS Finland Sarja B 166 Series ________________________________________________________________ Kari E.O.