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OECD Reviews of Innovation Policy: Finland 2017

image of OECD Reviews of Innovation Policy: Finland 2017

Although Finland achieved a widely acclaimed transformation to become a leading knowledge-based economy in the late 20th century, the 2009 recession and disruptive change contributing to a deep restructuring of the information and communication technology (ICT) industry and the downsizing of traditional sectors have weighed on the economy, productivity growth and international competitiveness. Numerous policy reforms have since been undertaken, and public and private investment, especially in applied R&D, has been cut back. Strengthening and lifting Finland’s innovation system out of a period of uncertainty requires a coherent and unified new vision for science, technology and innovation (STI), renewed investment and policy instruments. This vision should be oriented towards renewal tackling societal challenges and developing new knowledge-based competitive advantages at global scale. Success calls for better co-ordination and co-operation among policy actors and national and regional-levels, and further internationalisation.

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Executive summary

Finland’s economic and social development has been one of the great successes of the second half of the 20th century. Supported by continued investment in education, research and innovation, Finland achieved a widely acclaimed transition from a largely resource-based to a leading knowledge-based economy shifting towards high-technology manufacturing and knowledge-based services.

English

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