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OECD Science, Technology and Innovation Outlook 2016

image of OECD Science, Technology and Innovation Outlook 2016

The fully revamped and re-titled OECD Science, Technology and Innovation Outlook is a biennial publication that aims to inform policy makers and analysts on recent and future changes in global science, technology and innovation (STI) patterns and their potential implications on and for national and international STI policies. Based on the most recent data available, the report provides comparative analysis of new policies and instruments being used in OECD countries and a number of major emerging economies (including Brazil, China, India, Indonesia, the Russian Federation and South Africa) to boost the contribution of science and innovation to growth and to global and social challenges. In this edition, detailed country and policy profiles are available on line.

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Finland

Finland is a small knowledge-intensive economy with an industry that has not recovered yet from the economic crisis and other external shocks. The manufacturing sector has been downsizing reflecting both an industrial restructuring (particularly in electronics due to changes in Nokia’s business) and losses in competitiveness. The economy is dominated by high and medium-high technology and still has a strong specialisation in ICT, wood and paper industries, metal-machinery and basic metals. Although the Finnish STI system performs rather well by OECD standards (high investment in human capital and education), socio-economic indicators such as inequality, unemployment and productivity stagnate or reflect a downtrend. Labour productivity is below the OECD average and has stagnated since 2013. Exports remain weak due to eroded competitiveness, and the slowdown of the Russian economy. High-tech goods as a share of total exports dropped from 23% in 2005 to 6% in early 2016. The government is currently implementing an austerity agenda, intending to level off the GDP-to-debt ratio, and budget cuts also affect expenditure on R&D and innovation. The Strategic Government Programme of the Prime Minister has been launched in 2015 based on five strategic priorities: i) Employment and Competitiveness; ii) knowledge and education; iii) wellbeing and healthcare; iv) bioeconomy and clean technologies; and v) digitalisation, experimentation and deregulation.

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