Finland paper recommends ‘unpleasant reforms’

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A discussion paper, published by the Bank of Finland today (October 24), says growth in Europe can be accelerated by shackling the public sector with a host of "unpleasant reforms".

The author, Matti Viren, examines which economic variables are capable of boosting growth in the region. The paper finds larger governments are associated with slower growth rates, while longer working weeks generate better economic growth.

As policy prescriptions, the author says reducing the growth of the public

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