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Rationales and instruments for public innovation policies

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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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
Contact details of provider: Postal: Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland
Web page: http://www.suomenpankki.fi/en/

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