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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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Overall assessment and recommendations

This chapter presents an overall assessment of Finland’s innovation system and policy, reflecting key findings of the review. It identifies strengths and weaknesses of the innovation system and key tasks of the innovation policy, and develops specific policy recommendations.

English

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