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Research and Innovation Policy after the Crisis

  • Jürgen Janger

    (WIFO)

  • Michael Böheim

    (WIFO)

  • Martin Falk

    (WIFO)

  • Rahel Falk

    (WIFO)

  • Werner Hölzl

    (WIFO)

  • Daniela Kletzan-Slamanig

    (WIFO)

  • Michael Peneder

    (WIFO)

  • Andreas Reinstaller

    (WIFO)

  • Fabian Unterlass

    (WIFO)

  • Gunther Tichy

    (WIFO)

The economic crisis has had a negative effect on the state of the public budgets. Consolidation measures and the slow recovery of the economy will continue to influence the budget until 2014. However, an increase in public spending on innovation and education is possible in principle, despite budget consolidation. A "frontrunner strategy" can be implemented despite limited public resources, mainly by focussing resources and policy instruments on a strengthening of the leverage effect, in order to optimally make use of potential for private financing. Measures to implement this frontrunner strategy by 2020 and establish the pre-conditions for sustainable, innovation-based growth must go beyond a public funding system providing subsidies in the narrow sense. The elimination of bottlenecks in the education system and the improvement of the environment for innovative companies are of central importance to this approach. Intensified start-up dynamics, more dynamic growth of innovative businesses and additional international R&D headquarters can enable the structural change required to achieve these objectives.

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Article provided by WIFO in its journal Quarterly.

Volume (Year): 15 (2010)
Issue (Month): 4 (December)
Pages: 321-335

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Handle: RePEc:wfo:wquart:y:2010:i:4:p:321-335
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  1. Giebe, Thomas & Grebe, Tim & Wolfstetter, Elmar, 2006. "How to allocate R&D (and other) subsidies: An experimentally tested policy recommendation," Research Policy, Elsevier, vol. 35(9), pages 1261-1272, November.
  2. Michael Peneder, 2010. "Technological Regimes and the Variety of Innovation Behaviour. Creating Integrated Taxonomies of Firms and Sectors," WIFO Working Papers 362, WIFO.
  3. Michael Peneder, 2008. "The Problem of Private Under-investment in Innovation: A Policy Mind Map," WIFO Working Papers 313, WIFO.
  4. Rufin Baghana & Pierre Mohnen, 2009. "Effectiveness of R&D Tax Incentives in Small and Large Enterprises in Québec," CIRANO Working Papers 2009s-01, CIRANO.
  5. Markus Marterbauer, 2010. "Boom in Asia, Slow Recovery in the EU and Austria. Business Cycle Report of June 2010," Austrian Economic Quarterly, WIFO, vol. 15(2), pages 155-164, July.
  6. Markus Marterbauer, 2010. "Boom in Asia, Slow Recovery in EU and Austria," WIFO Monatsberichte (monthly reports), WIFO, vol. 83(6), pages 483-493, June.
  7. Debackere, Koenraad & Veugelers, Reinhilde, 2005. "The role of academic technology transfer organizations in improving industry science links," Research Policy, Elsevier, vol. 34(3), pages 321-342, April.
  8. Werner Hölzl & Klaus Friesenbichler, 2010. "High-growth firms, innovation and the distance to the frontier," Economics Bulletin, AccessEcon, vol. 30(2), pages 1016-1024.
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