The Nordic Economic Model |
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Introduction Contd...Also, these economies had benefited from the absence of corruption and red tape.
Background NoteThough 'Nordic countries' or 'Nordic region' traditionally referred to all the countries of Northern Europe, with the establishment of the Nordic Council in the 1950s, the term came to refer to the five countries of Denmark, Finland, Iceland, Norway, and Sweden, and their associated territories - the Faroe Islands, Greenland, and Åland7 (Refer Exhibit I for a map of the Nordic region, Exhibit II to know more about the countries, and Exhibit III for some statistics)...
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7] The Faroe or Faeroe Islands, located between the Norwegian Sea and the North Atlantic Ocean, have been an autonomous region of the Kingdom of Denmark since 1948. Åland, an archipelago in the Baltic Sea, is a Swedish-speaking autonomous region of Finland. Greenland, located between the Arctic and Atlantic Oceans, is a self-governing Danish province. |
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