Abstract
In my cluster analysis, Denmark is considered a borderline case between the Nordic and the continental European countries. Because Denmark manifests the characteristic features of the Nordic countries in exactly those subgroups in which the OMS differ the most (labour market and social services), I include Denmark among the Nordic countries. In 2009, the Nordic countries suffered a decline that extended beyond the EU average (−4.4 per cent); Finland experienced the greatest depression. The Swedish and the Finnish economies recovered rapidly and considerably exceeded the growth rate of the EU-28 in 2010 and 2011 (2.1 and 1.7 per cent, respectively). When 2012 brought a 0.4 per cent downturn to the entire EU, only Sweden was able to avoid recession and only the Swedish economy was likely to achieve significant growth in the coming years. As far as unemployment is concerned, all three countries perform better than the EU average (Table 5.1).
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Farkas, B. (2016). Crisis-Resistant Nordic Countries?. In: Models of Capitalism in the European Union. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-60057-8_5
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DOI: https://doi.org/10.1057/978-1-137-60057-8_5
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