The Role of Science and Technology Policy in Small Economies

Tuomo Heikkilä, Jaakko Kiander, Reino Hjerppe (), Pii Berghäll (), Juha Kilponen, Vladimir Lavrac and Peter Stanovnik

No 91, Research Reports from VATT Institute for Economic Research

Abstract: KNOGG, an EU financed thematic network, studies the role ST&I policies play in driving economic growth in six small European economies. It aims to develop guidelines at the EU level for improving knowledge-based growth in small European economies. This report sets the stage of the project, and provides a selective survey of the current literature on economic growth from the point of view of small open economies. Based on the New Growth Theory and Schumpeterian view of innovation, this report develops a conceptual framework for the project. The constraints imposed by country size and available resources as well as their implications for knowledge-based growth strategies are highlighted. Although ST&I policies in small countries may be more knowledgediffusion oriented, sole reliance on imitation strategies and foreign spillovers may lead to under-investment in domestic R&D and to difficulties to absorb new technologies. In this respect the KNOGG countries' past and current experiences in ST&I policies are rather mixed and diversified.

Keywords: Knowledge, growth, globalisation, technology, innovation, Economic growth, Taloudellinen kasvu, International comparisons, Kansainväliset vertailut, Taxation and Social Transfers, Julkisen talouden rahoitus ja tulonsiirrot, F000 - International Economics: General, O300 - Technological Change; Research and Development: General, (search for similar items in EconPapers)
Date: 2002
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