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The Research Institute of the Finnish Economy (Etla) is engaged in applied economic research with emphasis on topics that are important from the Finnish point of view. The main focus is on issues that relate to productivity and drivers of its growth, to the functioning of the labour market, as well as to challenges in maintaining a balanced macro economy including sound public finances. Etla monitors economic development, compiles forecasts as well as assesses economic policy and comments on it.
Etla is a private non-profit organisation. Its operations are backed by the supporting association, the members of which comprise the Confederation of Finnish Industries and the Confederation of Finnish Industry and Employers (TT) Fund. The funding from the background organisations covers more than a third of the institute’s budget and forms a solid base for its operations.
The greater part of the remaining two thirds is obtained as project funding for various research undertakings. Over the years such funding has been provided by the Academy of Finland, the Finnish Funding Agency for Innovation (Tekes), several government departments, various foundations, The Nordic Council of Ministers and the European Commission. The grant for advancement of science allocated by the Ministry of Education and Culture covers roughly 5 per cent of the budget.