EIJS Working Papers Series
Growth & Innovation Policies For a Knowledge Economy. Experiences From Finland, Sweden & Singapore.
(), Ari Kokko
() and Fredrik Sjöholm
Abstract: Technical progress is at the heart of economic growth and
development. New or improved technology can be achieved through own
research and innovations or through the absorption and adaptation of
foreign technologies. To facilitate such technical progress requires a
complex system of supporting institutions and good economic policies. This
paper analyzes technical progress and innovation policies in three small
open economies: Finland, Sweden and Singapore. All three economies have
transformed from depending on raw material intensive or labor-intensive
production to highly competitive economies with a relatively high degree of
technological knowledge. We find some common determinants to the
transformation, such as large investments in physical and human capital and
the importance of political or economic crises in forcing through good
economic policies, but there are also many country specific aspects that
have been crucial in the different countries.
Keywords: Economic Growth; Innovation; Economic Policies; Technology; (follow links to similar papers)
JEL-Codes: O30; O38; O57; (follow links to similar papers)
53 pages, October 1, 2002
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