Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/45108
Authors: 
Toivanen, Otto
Year of Publication: 
2009
Series/Report no.: 
Research paper / UNU-WIDER 2009.48
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.
Subjects: 
innovation policy
R&D subsidies
R&D tax credit
developing countries
interim efficiency
market failure
JEL: 
L53
O25
O28
ISBN: 
978-92-9230-227-6
Document Type: 
Working Paper

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