Scandinavian Working Papers in Economics
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Bank of Finland Research Discussion Papers, Bank of Finland

No 1/2013:
Rationales and instruments for public innovation policies

Tuomas Takalo ()

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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