The Nordic Economic Model

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

Case Details:


Case Code : ECON026 For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges


Case Length : 19 Pages
Period : 1950-2007
Pub. Date : 2008
Teaching Note : Not Available
Organization : --
Industry : -
Countries : Norway, Denmark, Finland, Iceland, and Sweden


The Nordic economic model, characterized by market-based economies and generous welfare systems, seemed to be working well, with the countries in the region figuring at the top of various lists that ranked countries on the basis of human development, per capita income, economic freedom, etc.

The case discusses the history of the Nordic economies over the years. It then explains the main features of the Nordic economic model and goes on to examine some of the reasons behind the global competitiveness of the Nordic economies.

The case also recounts some challenges that these countries face as well as the criticisms of the welfare model adopted by these countries. The case ends with a brief discussion on the outlook for these countries.


Understand the evolution of Nordic economies.

Analyze the reasons behind the competitiveness of the Nordic economies.

Evaluate the sustainability of the welfare policies adopted by Nordic economies.

Analyze the future of the Nordic region in the light of challenges such as aging populations, globalization, etc.


  Page No.
Introduction 1
Background Note 2
The Main Features of The Nordic Economic Model 5
What Makes The Nordic Region Competitive? 6
Criticisms and Challenges 8
Outlook 10
Exhibits 12


Nordic economic model, Welfare state, Competitiveness of Nations, Government policy, High tax rates and economic growth, Pension reforms, Aging population, Denmark, Norway, Sweden, Finland, Iceland

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