Targeting R&D intensity in Finnish innovation policy

Research output: Book/ReportReport

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.
Original languageEnglish
Place of PublicationParis
PublisherOECD
Number of pages44
DOIs
Publication statusPublished - 28 Jun 2021
MoE publication typeD4 Published development or research report or study
EventVirtual event: R&D policies for better post-pandemic futures: New approaches and tools. - Helsinki, Finland
Duration: 20 May 202121 May 2021
https://www.vttresearch.com/en/news-and-ideas/virtual-event-rd-policies-better-post-pandemic-futures-new-approaches-and-tools

Publication series

SeriesOECD Science, Technology and Industry Working Papers
Number2021/08
ISSN1815-1965

Keywords

  • research and development (R&D)
  • R&D intensity targets
  • R&D policy
  • innovation policy
  • Finland

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