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Economic and Technological Development: a dynamic change in Finland

Crusell Bridge at night, over the Ruoholahti Canal, in Helsinki, Finland.
Aswathy Rajan , Jacinta DSilva , Jasmina Popov-Locke

Background – As we stand in the era of globalization where the economic activities are spreading increasingly without boundaries between various countries intensifying the competition, thus economic geography becomes more significant in helping to understand the contemporary economies in terms of patterns of investment, trade, production activities and consumption being uneven. It also illuminates how various economic activities in a specific country are governed at multiple geographical level. Even though there is a lot of research on economic development, regional studies need to be further researched to map the development happening in the globalized era

Purpose – The purpose of this paper is to investigate the attributes like the importance of economic geography, significant economic details, and how population decline as affected Finland. The paper also aims to highlight the key economic and technological developments that have led Finland to score admirably on worldwide rankings with regards to social advancement and the most joyful nation

Design/methodology/approach – This study followed a conceptual model and therefore, an extensive literature search was conducted in relation to research conducted on regional development, economic geography and economic developments in Finland. The paper documents updated information on economic developments in Finland

Findings – The study draws rich information on the key developments in Finland in terms of location and territory studies. The paper also highlights the importance of Central Place theory and discusses the advantages and drawbacks of applying it to a specific place. The paper further evaluates the advancements in transportation and communication networks that have led to economic development in Finland

Research limitations – The study was limited to a specific country and therefore, this could be considered a limitation. In the future, crossregional studies could be better to create a comparison between the regions and to identify the key developments contributing to the individual region

Originality/value – The study adds to the body of knowledge on regional and national studies on the key economic and technological developments. The study also highlights the impact of population increase or decrease in a region

Keywords: Economic Geography, Central Place Theory, Location Analysis, Regional Study, Economic Development

Posted by Aswathy Rajan , Jacinta DSilva , Jasmina Popov-Locke on May 16, 2019 11:06:57 AM

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