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 failureJEL L53
O25
O28Copyright Holder UNU-MERIT Copyright Year 2009 Copyright type All rights reserved ISSN 18719872 -
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