BOFIT monitors and analyses current trends in emerging economies

Oleksandr Talavera (University of Birmingham) - The Allocative Cost of War: A View to a Kill…ing of Productivity

Why is war so economically costly? Our answer is that modern war lowers output not only by destroying productive factors, but also by making the surviving economy work less efficiently. Using uniquely comprehensive firm-level data collected during Russia’s full-scale invasion of Ukraine in 2022, we ...

BOFIT Forecast for China 2026–2028 / 2

China’s economic growth this year has outpaced most large economies, but the signs of slowing growth are evident and the structure of growth has become increasingly distorted. Domestic demand growth remains stagnant and the multi-year downturn in the real estate sector continues. At the same time, C...

China’s growth imbalances deepen

As China’s economy has slowed this year, its growth structure has become increasingly unbalanced. Domestic demand remains weak, and the situation in the real estate sector remains challenging. At the same time, high-tech manufacturing and state-supported investment underpin economic growth. The imba...

BOFIT Forecast for Russia 2026–2028 / 2

Amidst struggles with structural constraints and rising imbalances, the Russian economy has seen its growth stagnate at around 1 percent this year and is on track to slow further to around ½ percent next year. Increased government expenditure, which is crucial to sustaining Russia’s war of aggressio...

BOFIT Forecast for Russia 2026-2028

BOFIT will release its update to Russia forecast for years 2026-2028 on 5 October 2026 in Teams webinar at 16.00-17.00 (UTC +3).

Bank of Finland Bulletin website updated and improved – fresher, clearer and faster to use

The Bank of Finland Bulletin website has been updated and improved as part of the wider redesign of the Bank’s websites. The result is a fresher, more convenient and unified website with content that's easier to find – also via search engines and AI applications.  

BOFIT Forecast for China 2026–2028 / 1

Official figures show that China’s economy expanded by 5 percent last year, although actual GDP growth was likely lower. With domestic consumption and fixed investment remaining subdued, economic growth continues to rely heavily on exports. Room for fiscal stimulus has narrowed, and economic policy ...

BOFIT will release its China Forecast for 2026–2028 on 5 May 2026

BOFIT will release its China Forecast for 2026–2028 in Teams webinar on 5 May 2026 at 16.00 (UTC +3).

BOFIT Forecast for Russia 2026–2028 / 1

Growth of the Russian economy slowed to 1 percent last year. Weaker trends in private consumption and fixed investment were major drags on growth, following decelerating real wage growth, increased tax burden and high interest rates. Economic growth should remain around 1 percent this year. High pri...

BOFIT Visiting Researcher Programme's application period is open!

Call for Papers: 12th Workshop on Banking and Institutions

BOFIT Forecast for China 2025–2027 / 2

Lifted by strong exports, China’s economy has grown slightly faster this year than our previous forecast anticipated. GDP growth has been slowing in recent months, however, and we expect the slowdown to continue throughout the 2025–2027 forecast period, and reaching a rate of around 3 % p.a. in 2027...

BOFIT Kiina-tietoisku 2025

Seuraava BOFIT Kiina-tietoisku järjestetään hybridimuodossa 10.11.2025 klo 13.00–15.30 verkossa ja Suomen Pankin Rahamuseossa. 

BOFIT Forecast for Russia 2025–2027 / 2

The pace of Russian GDP growth decelerated much more rapidly in the first half of 2025 than anticipated in our March forecast. We now expect full-year growth to remain at or below 1 %. The needs of war, labour shortages and slower growth in public spending will restrain growth of the Russian economy...

BOFIT Forecast for Russia 2025-2027

BOFIT will release its update to Russia forecast for years 2025–2027 in Teams webinar on October 20, 2025.

Call for Papers: Conference on "The Changing Global Trade and Financial Linkages" on 28-29 January 2026 in Hong Kong

Hong Kong Institute for Monetary and Financial Research (HKIMR), the European Central Bank (ECB) and the Bank of Finland Institute for Emerging Economies (BOFIT) are

BOFIT will release its update to Russia forecast for years 2025–2027 on October 20, 2025

BOFIT will release its update to Russia forecast for years 2025–2027 in Teams webinar on October 20, 2025 at 16.00 (UTC +3).

BOFIT Forecast for China 2025–2027 / 1

China’s economy continues to slow. The outlook for domestic demand remains depressed due to a lack of consumer confidence and prolonged problems in the real estate sector. China’s external prospects have also worsened. Output growth has outpaced domestic demand growth in recent years, with excess pr...

BOFIT Forecast for Russia 2025–2027 / 1

While Russian GDP has risen in recent years, much of the growth has been driven by the surge in government spending on the war in Ukraine. We expect government spending to increase further this year, but production is already stretched to capacity, limiting potential for further output gains. We now...