The Bank of Finland has expressed its concerns about the shortage of macroeconomists with post-tertiary qualifications in Finland.
The shortage, it warns in a public statement, threatens in the long term to compromise the quality of domestic economic policy analysis and making, as one of the main objectives of macroeconomics is to help decision-makers conceptualise the impacts of various policy alternatives.
The Bank of Finland estimates that the most recent financial crisis has demonstrated how crucial it is for economic stability to understand the functions of the economy and financial markets.
“Insufficient investments in high-quality education and research is a major problem also in other special fields of economics,” it laments.
“International recruitments have mitigated the situation. The Bank of Finland has recruited well-educated young doctors from abroad for expert roles over the past five years. The supply of doctors from abroad, however, can never replace domestic expertise in policy-making,” argues the Bank of Finland.
The statement has been signed by Erkki Liikanen, the Governor of the Bank of Finland, and Seppo Honkapohja, a board member at the Bank of Finland.
Aleksi Teivainen – HT
Photo: Heikki Saukkomaa – Lehtikuva
Source: Uusi Suomi