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Rationales and Instruments for Public Innovation Policies

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  • Tuomas Takalo

    ()
    (Bank of Finland)

Abstract

Economic interest in innovation policy largely arises from the fundamental importance of innovation to social welfare and from inefficiencies in innovation in a competitive market environment. As a result, a wide variety of public innovation policies are used in practice. This study reviews the economic justifications for public innovation policies and compares the existing policy tools, paying particular attention to the Finnish innovation policy environment

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Bibliographic Info

Article provided by Lifescience Global in its journal Journal of Reviews on Global Economics.

Volume (Year): 1 (2012)
Issue (Month): ()
Pages: 157-167

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Handle: RePEc:lif:jrgelg:v:1:y:2012:p:157-167

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Keywords: Innovation policies; innovation; R&D; incentives; market failures;

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Cited by:
  1. Takalo, Tuomas & Tanayama, Tanja & Toivanen, Otto, 2013. "Market failures and the additionality effects of public support to private R&D: Theory and empirical implications," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 31(5), pages 634-642.
  2. Anna Bohnstedt, 2014. "Are Public and Private R&D Investments Complements or Substitutes?," Ruhr Economic Papers, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen 0485, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.

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