Finland continues to exhibit a strong performance
across all the analyzed dimensions, despite its drop
of one place to 4th position. This decline is mainly
driven by a slight deterioration of its macroeconomic
conditions (43rd), which has led some rating agencies
to downgrade the outlook of this Nordic economy.
More precisely, Finland suffers from higher, though
still manageable, deficit and public debt level, and
its savings rate has slightly decreased. Nevertheless,
the country continues to boast well-functioning and
highly transparent public institutions (1st), at the very
top in many of the indicators included in this category,
and high-quality infrastructure (19th). The functioning
of its products market is also good (18th), financial
development is very high (5th), and the country manages
to use its existing talent efficiently (7th) despite some
persistent rigidities in its labor market, most notably in
terms of wage determination (143rd), which is regarded
as one of the most problematic factors for doing
business. Its biggest competitiveness strength lies in its
capacity to innovate, where the country leads the world
rankings (1st). Very high public and private investments in
R&D (3rd), with very strong linkages between universities
and industry (1st) coupled with an excellent education
and training system (1st) and one of the highest levels
of technological readiness (11th) drive this outstanding
result.
Finland continues to exhibit a strong performanceacross all the analyzed dimensions, despite its dropof one place to 4th position. This decline is mainlydriven by a slight deterioration of its macroeconomicconditions (43rd), which has led some rating agenciesto downgrade the outlook of this Nordic economy.More precisely, Finland suffers from higher, thoughstill manageable, deficit and public debt level, andits savings rate has slightly decreased. Nevertheless,the country continues to boast well-functioning andhighly transparent public institutions (1st), at the verytop in many of the indicators included in this category,and high-quality infrastructure (19th). The functioningof its products market is also good (18th), financialdevelopment is very high (5th), and the country managesto use its existing talent efficiently (7th) despite somepersistent rigidities in its labor market, most notably interms of wage determination (143rd), which is regardedas one of the most problematic factors for doingbusiness. Its biggest competitiveness strength lies in itscapacity to innovate, where the country leads the worldrankings (1st). Very high public and private investments inR&D (3rd), with very strong linkages between universitiesand industry (1st) coupled with an excellent educationand training system (1st) and one of the highest levelsof technological readiness (11th) drive this outstandingresult.
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