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Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.
Restarting the Growth Engine in Finland
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- Henrik Braconier1
- Author Affiliations
- 1: OECD, France
- 03 sep 2012
- Bibliographic information
Impressive productivity performance during the last decades has weakened since 2007, reflecting the 2008-09 recession but also a poor performance in important sectors, like the information and communication technology sector. Reforms to raise long term productivity growth need to be pursued. Current project-based R&D-support and business subsidies seem inefficient and should be scaled back and remaining support should focus on addressing externalities in terms of the creation of high productive jobs and R&D spillovers. A R&D tax credit could provide higher flexibility, equity and efficiency than current targeted support. Capital taxation should be streamlined to improve incentives for entrepreneurship and growth. The performance of the higher education system could be improved through allocating more R&D funding and teaching resources based on quality rather than block grants. Productivity performance could be enhanced by exposing sectors like health provision, network industries and retailing to more competition through lowering government dominance in provision and loosening planning restrictions. This Working Paper relates to the 2012 OECD Economic Survey of Finland (www.oecd.org/eco/surveys/finland).
- entrepreneurship, ICT, retailing, structural change, competition, growth, R&D, Finland, productivity
- Classification JEL:
- H2: Public Economics / Taxation, Subsidies, and Revenue
- I23: Health, Education, and Welfare / Education and Research Institutions / Higher Education; Research Institutions
- J6: Labor and Demographic Economics / Mobility, Unemployment, Vacancies, and Immigrant Workers
- L63: Industrial Organization / Industry Studies: Manufacturing / Microelectronics; Computers; Communications Equipment
- O3: Economic Development, Innovation, Technological Change, and Growth / Innovation; Research and Development; Technological Change; Intellectual Property Rights
- O4: Economic Development, Innovation, Technological Change, and Growth / Economic Growth and Aggregate Productivity