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Policy Responses to the Economic Crisis: Investing in Innovation for Long-Term Growth

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  • Dominique Guellec
  • Sacha Wunsch-Vincent

Abstract

The OECD is developing a strategic response to the crisis focusing on two priority areas: finance, competition and governance; and restoring long-term growth. As part of this strategic response, the OECD Directorate for Science, Technology and Industry (DSTI) has analysed the likely impact of the downturn on the drivers of long term economic growth and the innovation-related items in policy responses of major countries. Special workshops and sessions on the economic crisis were held by the Committee for Innovation, Industry and Entrepreneurship, the Committee for Scientific and Technological Policy, and the Committee for Information, Computer and Communications Policy. In January 2009, the OECD Directorate for Science, Technology and Industry circulated a questionnaire to member countries to collect information on specific innovation-related items of their stimulus packages. By May 2009, 27 member countries, all five OECD accession countries (Chile, Estonia, Israel, Russia and Slovenia) and South Africa had answered the questionnaire. In May 2009, the three OECD Committees recommended to make public, under their responsibility, this updated version. This report presents the results of this exercise: the first chapter reports the general analysis of the impact of the crisis and the appropriate policy responses, and the second chapter reviews current national responses.

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File URL: http://dx.doi.org/10.1787/222138024482
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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Digital Economy Papers with number 159.

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Date of creation: Jun 2009
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Handle: RePEc:oec:stiaab:159-en

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Cited by:
  1. Nina Czernich & Oliver Falck & Tobias Kretschmer & Ludger Wößmann, 2009. "Breitbandinfrastruktur und wissensbasiertes volkswirtschaftliches Wachstum," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 62(23), pages 29-34, December.
  2. Hausman, Angela & Johnston, Wesley J., 2014. "The role of innovation in driving the economy: Lessons from the global financial crisis," Journal of Business Research, Elsevier, vol. 67(1), pages 2720-2726.
  3. Filippetti, Andrea & Archibugi, Daniele, 2010. "Innovation in Times of Crisis: The Uneven Effects of the Economic Downturn across Europe," MPRA Paper 22084, University Library of Munich, Germany.
  4. Romain Bouis & Ane Kathrine Christensen & Boris Cournède, 2013. "Deleveraging: Challenges, Progress and Policies," OECD Economics Department Working Papers 1077, OECD Publishing.
  5. Roger Wettenhall, 2011. "Global Financial Crisis: The Australian Experience in International Perspective," Public Organization Review, Springer, vol. 11(1), pages 77-91, March.

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