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Targeting R&D intensity in Finnish innovation policy

Author

Listed:
  • Matthias Deschryvere

    (VTT Technical Research Centre of Finland)

  • Kai Husso

    (Ministry of Economic Affairs and Employment of Finland)

  • Arho Suominen

    (VTT Technical Research Centre of Finland)

Abstract

Finland has been setting research and development (R&D) intensity targets for almost 50 years. This paper explores the Finnish national policy experience in fostering public and private investments in R&D. Three key insights are the following: a) a systemic and integrated policy approach needs an impactful co-ordination and governance mechanism; b) a balanced innovation system with well-working joint public-private partnership efforts and mechanisms will do better in absorbing shocks; c) a key strategy to absorb shocks to the economy and society is to invest in long-term capabilities. This study also provides an overview of the factors influencing the level of R&D intensity. The current 4% target to be reached by 2030 was set in 2019 but thus far relatively few policy actions have been introduced to operationalise it. With these dynamics and uncertainty, it remains to be seen if the target will be reached by 2030.

Suggested Citation

  • Matthias Deschryvere & Kai Husso & Arho Suominen, 2021. "Targeting R&D intensity in Finnish innovation policy," OECD Science, Technology and Industry Working Papers 2021/08, OECD Publishing.
  • Handle: RePEc:oec:stiaaa:2021/08-en
    DOI: 10.1787/51c767c9-en
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    More about this item

    Keywords

    innovation policy; R&D intensity targets; R&D policy; research and development (R&D);
    All these keywords.

    JEL classification:

    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • 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

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