Pub Date : 2018-10-15DOI: 10.7591/cornell/9781501726101.003.0007
Darius Ornston
This chapter illustrates how the politics of overshooting apply outside of Nordic Europe by identifying two countries with cohesive, encompassing networks and high levels of economic volatility. Ireland differs from Nordic Europe in several respects, but it has suffering a strikingly similar set of abrupt policy reversals and dramatic boom-bust cycles. Tight-knit relationships also supported comprehensive reform and restructuring in Estonia. Dense, widely distributed ties facilitated rapid digitalization, but also increased the country's vulnerability to external shocks, including the 2007-2009 credit crunch and the emerging threat of cyberwarfare.
{"title":"Overshooting beyond Nordic Europe","authors":"Darius Ornston","doi":"10.7591/cornell/9781501726101.003.0007","DOIUrl":"https://doi.org/10.7591/cornell/9781501726101.003.0007","url":null,"abstract":"This chapter illustrates how the politics of overshooting apply outside of Nordic Europe by identifying two countries with cohesive, encompassing networks and high levels of economic volatility. Ireland differs from Nordic Europe in several respects, but it has suffering a strikingly similar set of abrupt policy reversals and dramatic boom-bust cycles. Tight-knit relationships also supported comprehensive reform and restructuring in Estonia. Dense, widely distributed ties facilitated rapid digitalization, but also increased the country's vulnerability to external shocks, including the 2007-2009 credit crunch and the emerging threat of cyberwarfare.","PeriodicalId":142342,"journal":{"name":"Good Governance Gone Bad","volume":"298 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120932445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-10-15DOI: 10.7591/cornell/9781501726101.003.0004
Darius Ornston
Finland was among the most aggressive and successful countries in the world in converting traditional industrial policies into new innovation policies. This chapter identifies the specific ways in which policymakers leveraged tight-knit networks to fundamentally restructure Finnish economic institutions. Together with entrepreneurial private sector actors, namely Nokia, they transformed Finland from one of the lowest technology economies in the OECD into one of the most research-intensive societies in the world. At the same time, the chapter reveals that Finland relied so heavily on technological innovation that it increased its vulnerability to adverse economic shocks, most notably the invention of the iPhone.
{"title":"Connecting People","authors":"Darius Ornston","doi":"10.7591/cornell/9781501726101.003.0004","DOIUrl":"https://doi.org/10.7591/cornell/9781501726101.003.0004","url":null,"abstract":"Finland was among the most aggressive and successful countries in the world in converting traditional industrial policies into new innovation policies. This chapter identifies the specific ways in which policymakers leveraged tight-knit networks to fundamentally restructure Finnish economic institutions. Together with entrepreneurial private sector actors, namely Nokia, they transformed Finland from one of the lowest technology economies in the OECD into one of the most research-intensive societies in the world. At the same time, the chapter reveals that Finland relied so heavily on technological innovation that it increased its vulnerability to adverse economic shocks, most notably the invention of the iPhone.","PeriodicalId":142342,"journal":{"name":"Good Governance Gone Bad","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134194061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-10-15DOI: 10.7591/cornell/9781501726101.003.0001
Darius Ornston
This chapter introduces the “Nordic paradox,” asking why countries that are so economically successfully make such poor policy choices and suffer such devastating economic crises, including the banking crises of the early 1990s, the dot com crash, Finnish dependence on Nokia, and the recent Icelandic financial crisis. Nordic success is puzzling in its own right, as traditional theories based on state intervention, labor power resources, and employer organization cannot explain the diverse ways in which the Nordic countries have succeeded over time. Drawing on the literature on small states, the chapter hypothesizes that cohesive, encompassing networks best explain the Nordic region's capacity for radical reform and restructuring as well as its vulnerability to overshooting.
{"title":"The Nordic Paradox","authors":"Darius Ornston","doi":"10.7591/cornell/9781501726101.003.0001","DOIUrl":"https://doi.org/10.7591/cornell/9781501726101.003.0001","url":null,"abstract":"This chapter introduces the “Nordic paradox,” asking why countries that are so economically successfully make such poor policy choices and suffer such devastating economic crises, including the banking crises of the early 1990s, the dot com crash, Finnish dependence on Nokia, and the recent Icelandic financial crisis. Nordic success is puzzling in its own right, as traditional theories based on state intervention, labor power resources, and employer organization cannot explain the diverse ways in which the Nordic countries have succeeded over time. Drawing on the literature on small states, the chapter hypothesizes that cohesive, encompassing networks best explain the Nordic region's capacity for radical reform and restructuring as well as its vulnerability to overshooting.","PeriodicalId":142342,"journal":{"name":"Good Governance Gone Bad","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124388462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-10-15DOI: 10.7591/CORNELL/9781501726101.003.0003
Darius Ornston
This chapter opens the empirical section of the book with the Swedish case. Beginning in the 1930s, policymakers across the world turned to credit rationing, state aid, and planning. This volte-face away from free markets was particularly pronounced in Sweden, which could rely on tight-knit networks to implement and scale new ideas through the politics of persuasion, compensation, and coordination. In many respects, Sweden eclipsed even France, the paradigmatic statist economy, both in its capacity to reform public policy as well as its ability to foster the growth of large, capital-intensive manufacturing enterprises. At the same time, state intervention proved increasingly dysfunctional over time, generating unsustainable trade and fiscal deficits and a deep economic crisis.
{"title":"Manufacturing a Crisis","authors":"Darius Ornston","doi":"10.7591/CORNELL/9781501726101.003.0003","DOIUrl":"https://doi.org/10.7591/CORNELL/9781501726101.003.0003","url":null,"abstract":"This chapter opens the empirical section of the book with the Swedish case. Beginning in the 1930s, policymakers across the world turned to credit rationing, state aid, and planning. This volte-face away from free markets was particularly pronounced in Sweden, which could rely on tight-knit networks to implement and scale new ideas through the politics of persuasion, compensation, and coordination. In many respects, Sweden eclipsed even France, the paradigmatic statist economy, both in its capacity to reform public policy as well as its ability to foster the growth of large, capital-intensive manufacturing enterprises. At the same time, state intervention proved increasingly dysfunctional over time, generating unsustainable trade and fiscal deficits and a deep economic crisis.","PeriodicalId":142342,"journal":{"name":"Good Governance Gone Bad","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130504287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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