Innovation Policy, Entrepreneurship, and Development: A Finnish View

Toivanen, Otto (2009). Innovation Policy, Entrepreneurship, and Development: A Finnish View. UNU-MERIT.

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  • Sub-type Working paper
    Author Toivanen, Otto
    Title Innovation Policy, Entrepreneurship, and Development: A Finnish View
    Publication Date 2009
    Place of Publication Maastricht, NL
    Publisher UNU-MERIT
    Pages 21
    Abstract This article first reviews the economic rationales for innovation policy. It then describes the Finnish innovation policy and policy making environment. The Finnish policy is evaluated from the point of view of fostering entrepreneurship. R&D subsidies, the main tool of Finnish innovation policy, may not be a very effective way of fostering entrepreneurship, compared to R&D tax credits of the type used in the Netherlands and Norway. The main reason for this is that the latter provide support in a more transparent way. The article ends with a discussion of what lessons the Finnish innovation policy offers to developing countries.
    Keyword Innovation policy
    R&D subsidies
    R&D tax credits
    Developing countries
    Interim efficiency
    Market failure
    JEL L53
    O25
    O28
    Copyright Holder UNU-MERIT
    Copyright Year 2009
    Copyright type All rights reserved
    ISSN 18719872
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    Created: Wed, 11 Dec 2013, 17:23:36 JST