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Innovation Policy, Entrepreneurship, and Development: A Finnish View

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  • Toivanen, Otto

    () (University of Helsinki, Helsinki Center of Economic Research)

Abstract

This article first reviews the economic rationales for innovation policy. It then describes the Finnish innovation policy and policy making environment. The Finnish policy is evaluated from the point of view of fostering entrepreneurship. R&D subsidies, the main tool of Finnish innovation policy, may not be a very effective way of fostering entrepreneurship, compared to R&D tax credits of the type used in the Netherlands and Norway. The main reason for this is that the latter provide support in a more transparent way. The article ends with a discussion of what lessons the Finnish innovation policy offers to developing countries.

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File URL: http://www.merit.unu.edu/publications/wppdf/2009/wp2009-050.pdf
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Bibliographic Info

Paper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 050.

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Date of creation: 2009
Date of revision:
Handle: RePEc:dgr:unumer:2009050

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Web page: http://www.merit.unu.edu

Related research

Keywords: innovation policy; R&D subsidies; R&D tax credit; developing countries; interim efficiency; market failure;

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References

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  1. Trajtenberg, M. & Bresnahan, T.F., 1992. "General Purpose Technologies: "Engines of Growth"," Papers 16-92, Tel Aviv.
  2. Hyytinen, Ari & Toivanen, Otto, 2003. "Do Financial Constraints Hold Back Innovation and Growth? Evidence on the Role of Public Policy," Discussion Papers 820, The Research Institute of the Finnish Economy.
  3. Bronwyn Hall & Alessandro Maffioli, 2008. "Evaluating the impact of technology development funds in emerging economies: evidence from Latin America," European Journal of Development Research, Taylor and Francis Journals, vol. 20(2), pages 172-198.
  4. Tor Jakob Klette & Jarle Møen, 1998. "From Growth Theory to Technology Policy – Coordination Problems in Theory and Practice," Discussion Papers 219, Research Department of Statistics Norway.
  5. Amil Petrin, 2002. "Quantifying the Benefits of New Products: The Case of the Minivan," Journal of Political Economy, University of Chicago Press, vol. 110(4), pages 705-729, August.
  6. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-70, December.
  7. Bengt Holmstrom & Roger B. Myerson, 1981. "Efficient and Durable Decision Rules with Incomplete Information," Discussion Papers 495, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Segerstrom, Paul S, 2000. " The Long-Run Growth Effects of R&D Subsidies," Journal of Economic Growth, Springer, vol. 5(3), pages 277-305, September.
  9. Takalo, Tuomas & Tanayama, Tanja, 2008. "Adverse selection and financing of innovation: is there a need for R&D subsidies?," Research Discussion Papers 19/2008, Bank of Finland.
  10. Jaffe, A.B. & Trajtenberg, M., 1992. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," Papers 14-92, Tel Aviv.
  11. Jalava, Jukka & Pohjola, Matti, 2008. "The roles of electricity and ICT in economic growth: Case Finland," Explorations in Economic History, Elsevier, vol. 45(3), pages 270-287, July.
  12. Trajtenberg, Manuel, 1989. "The Welfare Analysis of Product Innovations, with an Application to Computed Tomography Scanners," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 444-79, April.
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Cited by:
  1. Gustavo Crespi & Galileo Solís & Ezequiel Tacsir, 2011. "Evaluación del impacto de corto plazo de SENACYT en la innovación de las empresas panameñas," IDB Publications 38218, Inter-American Development Bank.

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