Seven Shocks and Finland

The project investigated the implications of seven different shocks on Finnish society, and created a portfolio of actions with the potential to increase resilience in responding to these shocks.

Magnifying glass highlighting crisis

Magnifying glass highlighting crisis

Unexpected extreme events, be it a flash flood or the collapse of a major industry, can cause dramatic changes in a society’s economic, social, financial, and political life. To better prepare countries—in this study, Finland—to be more resilient in the face of such events, the Seven Shocks Project analyzed seven “shock” scenarios and possible responses. 

Researchers from IIASA’s Extreme Events Program defined shocks as disturbances that strike a system from the outside. The effects of the shocks and the consequences of the resulting disruptions can be either negative or positive.

IIASA and the 20 partners in the project have chosen to analyze the impact the following seven shocks could have on Finland:

  • The collapse of the European Monetary Union. 
  • The collapse of reliable Internet service. 
  • A major company leaves Finland. 
  • Flash floods devastate Europe. 
  • China collapses. 
  • The European forest and pulp and paper companies consolidate. 
  • The price of electricity drops 90%

These shock studies complemented the 2010 Finnish Government Resolution for the Security Strategy for Society, which defines threat scenarios and principles for crisis management.

The goal of the project was to examine how Finland, and by implication other countries, can become resilient to the increasing risks of a global system that is rife with uncertainty.


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Last edited: 03 June 2014

CONTACT DETAILS

Leena Ilmola-Sheppard

Senior Research Scholar

Advanced Systems Analysis

T +43(0) 2236 807 614

Timeframe

COMPLETED - 01.2012

RESEARCH PARTNERS

Association of Finnish Local and Regional Authorities

Federation of Finnish Financial Services

Finnish Ministry of Defense

Federation of Finnish Commerce

FIMECC Oy - Finnish Metals and Engineering Competence Cluster

International Institute for Applied Systems Analysis (IIASA)
Schlossplatz 1, A-2361 Laxenburg, Austria
Phone: (+43 2236) 807 0 Fax:(+43 2236) 71 313