Targeting R&D intensity in Finnish innovation policy

Matthias Deschryvere, Kai Husso and Arho Suominen
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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

No 2021/08, OECD Science, Technology and Industry Working Papers from OECD Publishing

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.

Keywords: innovation policy; R&D intensity targets; R&D policy; research and development (R&D) (search for similar items in EconPapers)
JEL-codes: L52 O30 O38 (search for similar items in EconPapers)
Date: 2021-06-28
New Economics Papers: this item is included in nep-ino, nep-sbm and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:oec:stiaaa:2021/08-en

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