Finnish trade with the USSR : why was it different?
Sutela, Pekka (20.06.2005)
Bank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-2014080843
Trade with the USSR accounted for about 15 per cent of Finland's total exports in 1952-1990, peaking at more than a quarter in the early-to-mid 1980s.Such trade is routinely seen to have had a major beneficial impact on the Finnish economy, whether in terms of profitability, diversification or stability.At the same time, trade with the USSR is seen to have had a major negative impact on the economies of the Central European member countries of the CMEA. This paper discusses this paradox, looking at both the institutional arrangements of Finnish - Soviet trade and the available analytical evidence.Much research, however, still remains to be done. Key words: Finland - economic development, East - West trade, bilateralism, clearing.