The Danish Economy An International Perspective Second Edition
by Andersen, Torben M.; Dalum, Bent; Linderoth, Hans; Smith, Valdemar; WestergÃ?Â?Ã?Â¥rd-Nielsen, NielsEdition: 2nd
Format: Paperback
Pub. Date: 2006-09-01
Publisher(s): Djoef Publishing
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Summary
International aspects are increasingly important for economic developments and for economic policy formation. This up-date comprehensive second edition provides an introduction to the structure and institutions of the Danish economy from an international perspective. The book provides a thorough treatment of key facts, integrating analyses of recent developments, as well as policy discussions. The book is designed for students and professionals who want a comprehensive overview of the Danish economy, its institutions, and its relations to the international economy. The Danish Economy, with its broad non-technical approach, may be used as both a textbook and as a handbook for those who want to focus on specific topics.
Author Biography
Niels Westergard-Nielsen is Professor at The Aarhus School of Business.
Table of Contents
| Growth and Business Cycles in the Danish Economy | |
| Growth and standards of living | p. 1 |
| Sources of growth | p. 3 |
| The Danish welfare model | p. 7 |
| International relations | p. 10 |
| The Danish business cycle | p. 13 |
| Danish economic policy | p. 21 |
| Industry Structure | |
| Introduction | p. 27 |
| Basic factors behind structural change | p. 28 |
| The structural composition of Danish production | p. 30 |
| Primary industries | p. 33 |
| Extraction of oil and gas | p. 34 |
| Agriculture | p. 35 |
| The secondary industries | p. 38 |
| Utilities | p. 39 |
| Construction | p. 40 |
| Manufacturing | p. 41 |
| The private service sector | p. 44 |
| The private service sector | p. 45 |
| Firm size and market structure | p. 47 |
| Prospects for services industries | p. 50 |
| The Danish services sector in an international perspective | p. 52 |
| The public sector | p. 53 |
| Perspectives | p. 56 |
| International Trade | |
| Introduction | p. 61 |
| International trade | p. 63 |
| European integration | p. 69 |
| The Danish trade pattern | p. 73 |
| Terms of trade and international competitiveness | p. 78 |
| The balance of payments | p. 82 |
| Financial Markets and Monetary Policy | |
| Globalization of capital markets | p. 90 |
| European cooperation in exchange rate and monetary policy | p. 94 |
| Historical background | p. 94 |
| The Economic and Monetary Union | p. 95 |
| ECB and monetary policy | p. 96 |
| Danish exchange rate and monetary policy | p. 97 |
| Exchange rate policy | p. 98 |
| Monetary policy | p. 101 |
| Financial markets and institutions | p. 103 |
| Financial institutions | p. 105 |
| Banks | p. 105 |
| Mortgage credit institutions | p. 108 |
| Insurance companies and pension funds | p. 109 |
| Other financial institutions | p. 111 |
| Financial markets | p. 112 |
| The stock market | p. 112 |
| Bonds | p. 114 |
| The Danish Labour Market | |
| Labour supply | p. 120 |
| Labour force participation | p. 121 |
| Entry and exit from the labour market | p. 123 |
| Working hours | p. 123 |
| Qualifications | p. 125 |
| Industrial relations | p. 127 |
| Employee organizations | p. 128 |
| Employers Organizations | p. 129 |
| Collective bargaining | p. 129 |
| Industrial Conflicts | p. 130 |
| Wages | p. 131 |
| Wage differentials between sectors and gender | p. 133 |
| Wage differentials for educational groups | p. 134 |
| Wage growth | p. 134 |
| Wage costs | p. 136 |
| Unemployment | p. 137 |
| Short and long-term unemployment | p. 139 |
| UI benefits | p. 140 |
| Labour market policies | p. 142 |
| Labour market reforms | p. 142 |
| Activation measures | p. 143 |
| Passive measures | p. 145 |
| Flexicurity | p. 148 |
| The Danish Welfare Model | |
| Introduction | p. 153 |
| Public sector size and structure | p. 156 |
| Types of transaction | p. 157 |
| Function | p. 159 |
| Public sector structure | p. 161 |
| Transfers | p. 163 |
| Tax burden and the structure of taxation | p. 165 |
| Personal income taxation | p. 167 |
| Redistribution of income | p. 172 |
| General government financial balances and gross debt | p. 174 |
| Challenges to the welfare state | p. 179 |
| Rules and Regulations | |
| Introduction | p. 186 |
| Competition policy in Denmark | p. 188 |
| Indicators of imperfect compeition in Danish industries | p. 190 |
| Energy, the environment and sustainable development | p. 194 |
| Natural capital and sustainable development | p. 195 |
| Resource prices | p. 198 |
| Energy consumption | p. 200 |
| The greenhouse effect | p. 202 |
| Agricultural policy | p. 204 |
| EU's common agricultural policy (CAP) | p. 204 |
| Agricultural support | p. 207 |
| Danish housing policy | p. 209 |
| Growth, Innovation and Education | |
| Introduction | p. 217 |
| Growth developments | p. 218 |
| Sources of growth | p. 220 |
| Theories of economic growth | p. 220 |
| Growth accounting | p. 222 |
| Productivity growth in an international perspective | p. 224 |
| Research and development | p. 227 |
| Danish R&D expenditure | p. 228 |
| R&D and productivity growth | p. 230 |
| Innovation | p. 232 |
| The patent activity in Denmark, OECD and EU | p. 234 |
| Developments in patent activities of Danish firms | p. 235 |
| Innovation expenditure and intensity | p. 237 |
| Education | p. 238 |
| Knowledge, New Economy and growth? | p. 241 |
| National Accounts | |
| Output | p. 249 |
| Price concepts and value added | p. 250 |
| GDP defined in terms of expenditure | p. 252 |
| GDP and other income terms | p. 253 |
| Consumption of fixed capital and net terms | p. 253 |
| Savings (S), capital formation (I) and the current external balance | p. 254 |
| International comparisons | p. 254 |
| GDP and alternative measures | p. 255 |
| Price and Quantity Indexes | |
| Price index formula | p. 258 |
| Quantity indexes | p. 261 |
| Deflating | p. 262 |
| Four general price indexes | p. 263 |
| Index | p. 265 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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