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Rationales and instruments for public innovation policies

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  • Takalo , Tuomas

    ()
    (Bank of Finland Research)

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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File URL: http://www.suomenpankki.fi/en/julkaisut/tutkimukset/keskustelualoitteet/Documents/BoF_DP_1301.pdf
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Bibliographic Info

Paper provided by Bank of Finland in its series Research Discussion Papers with number 1/2013.

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Length: 29 pages
Date of creation: 07 Jan 2013
Date of revision:
Publication status: Published as Takalo, Tuomas, 'Rationales and instruments for public innovation policies' in Journal of Reviews on Global Economics , 2012, pages 157-167.
Handle: RePEc:hhs:bofrdp:2013_001

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Postal: Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland
Web page: http://www.suomenpankki.fi/en/
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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," Research Discussion Papers 2/2013, Bank of Finland.
  2. Anna Bohnstedt, 2014. "Are Public and Private R&D Investments Complements or Substitutes?," Ruhr Economic Papers 0485, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.

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