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Growth & Innovation Policies For a Knowledge Economy. Experiences From Finland, Sweden & Singapore

Author

Listed:
  • Blomström, Magnus

    (European Institute of Japanese Studies)

  • Kokko, Ari

    (European Institute of Japanese Studies)

  • Sjöholm, Fredrik

    (European Institute of Japanese Studies)

Abstract

Technical progress is at the heart of economic growth and development. New or improved technology can be achieved through own research and innovations or through the absorption and adaptation of foreign technologies. To facilitate such technical progress requires a complex system of supporting institutions and good economic policies. This paper analyzes technical progress and innovation policies in three small open economies: Finland, Sweden and Singapore. All three economies have transformed from depending on raw material intensive or labor-intensive production to highly competitive economies with a relatively high degree of technological knowledge. We find some common determinants to the transformation, such as large investments in physical and human capital and the importance of political or economic crises in forcing through good economic policies, but there are also many country specific aspects that have been crucial in the different countries.

Suggested Citation

  • Blomström, Magnus & Kokko, Ari & Sjöholm, Fredrik, 2002. "Growth & Innovation Policies For a Knowledge Economy. Experiences From Finland, Sweden & Singapore," EIJS Working Paper Series 156, Stockholm School of Economics, The European Institute of Japanese Studies.
    • Handle: RePEc:hhs:eijswp:0156
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    References listed on IDEAS

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    7. Magnus Blomstrom & Robert E. Lipsey & Lennart Ohlsson, 1989. "What Do Rich Countries Trade with Each Other? R&D and the Composition of U.S. and Swedish Trade," NBER Working Papers 3140, National Bureau of Economic Research, Inc.
    8. Alwyn Young, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(3), pages 641-680.
    9. Ali-Yrkkö, Jyrki & Hyytinen, Ari & Liukkonen, Johanna, 2001. "Exiting Venture Capital Investments: Lessons from Finland," Discussion Papers 781, The Research Institute of the Finnish Economy.
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    Cited by:

    1. Andrés Rodríguez-Clare, 2005. "Coordination Failures, Clusters, and Microeconomic Interventions," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2005), pages 1-41, March.
    2. Sakib, S M Nazmuz, 2021. "Factors which are Affecting Human Capital in Singapore," Thesis Commons 38txr, Center for Open Science.
    3. Andrés Rodríguez-Clare, 2005. "Fallas de coordinación, conglomerados e intervenciones microeconómicas," Research Department Publications 4432, Inter-American Development Bank, Research Department.
    4. Zawalińska, Katarzyna & Tran, Nhi & Płoszaj, Adam, 2018. "R&D in a post centrally-planned economy: The macroeconomic effects in Poland," Journal of Policy Modeling, Elsevier, vol. 40(1), pages 37-59.
    5. Zawalinska, Katarzyna & Tran, Nhi & Ploszaj, Adam, 2019. "Planning R&D in a post centrally-planned economy: assessing the macroeconomic effects in Poland," Conference papers 333106, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    6. Maloney, William F. & Perry, Guillermo, 2005. "Towards an efficient innovation policy in Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    7. Katarzyna Zawalińska & Nhi Tran & Adam Płoszaj, 2016. "Planning R&D in a Post Centrally-Planned Economy: Assessing the Macroeconomic Effects in Poland," Centre of Policy Studies/IMPACT Centre Working Papers g-268, Victoria University, Centre of Policy Studies/IMPACT Centre.
    8. Nicholas Sim, 2004. "International production sharing and economic development: moving up the value-chain for a small-open economy," Applied Economics Letters, Taylor & Francis Journals, vol. 11(14), pages 885-889.
    9. Bridget Chipanje & Dong Ying & Lv Haiping, 2021. "Performance analysis of Reverse and Frugal Innovations in Nigeria A Case Study of IVM automobile company," Technium Social Sciences Journal, Technium Science, vol. 23(1), pages 591-625, September.
    10. repec:thr:techub:10023:y:2021:i:1:p:591-625 is not listed on IDEAS
    11. Renee B. Kim, 2008. "Transformation of an Emerging Economy to a Knowledge–based Economy," Global Business Review, International Management Institute, vol. 9(1), pages 149-156, June.

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    More about this item

    Keywords

    Economic Growth; Innovation; Economic Policies; Technology;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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    1. Socio-Economics of Innovation

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