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Innovation and Regional Socio-Economic Development - Evidence from the Finnish Local Administrative Units (1)

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  • Makkonen Teemu

    (University Of Helsinki, Finland)

Abstract

It is often argued that innovation plays a key role in the economic growth of regions. Therefore, the impacts of innovation on the socio-economic development of regions have been widely discussed in previous studies, but with divergent areal coverage, methods, and datasets. As a point for departure, these relationships redrawn from international literature are tested here with a single dataset from Finnish local administrative units and with coherent methods. As there does not seem to be a generally accepted indicator for innovation which can claim to be superior, despite the growing literature on the subject, research and development (R&D), and patent statistics are used in this paper to represent innovation activity. The significant, strong, and positive relationship between innovation and traditional socio-economic variables is verified using Finnish regions.

Suggested Citation

  • Makkonen Teemu, 2011. "Innovation and Regional Socio-Economic Development - Evidence from the Finnish Local Administrative Units (1)," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 15(15), pages 27-42, January.
    • Handle: RePEc:vrs:buogeo:v:15:y:2011:i:15:p:27-42:n:2
    DOI: 10.2478/v10089-011-0002-0
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    References listed on IDEAS

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