Research Discussion Papers, Bank of Finland
Rationales and instruments for public innovation policies
Abstract: Economic interest in innovation policy largely arises from
the fundamental importance of innovation to social welfare and from
inefficiencies in innovation in a competitive market environment. As a
result, a wide variety of public innovation policies are used in practice.
This study reviews the economic justifications for public innovation
policies and compares the existing policy tools, paying particular
attention to the Finnish innovation policy environment.
Keywords: innovation policies; innovation; R&D; incentives; market failures; (follow links to similar papers)
JEL-Codes: G28; H25; O31; O34; O38; (follow links to similar papers)
29 pages, January 7, 2013
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- This paper is published as:
Takalo, Tuomas, (2012), 'Rationales and instruments for public innovation policies', Journal of Reviews on Global Economics, Vol. 1, pages 157-167
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