Targeting R&D intensity in Finnish innovation policy
Finland has been setting research and development (R&D) intensity targets for almost
50 years. This paper explores the Finnish national policy experience in fostering
public and private investments in R&D. Three key insights are the following: a) a
systemic and integrated policy approach needs an impactful co-ordination and governance
mechanism; b) a balanced innovation system with well-working joint public-private
partnership efforts and mechanisms will do better in absorbing shocks; c) a key strategy
to absorb shocks to the economy and society is to invest in long-term capabilities.
This study also provides an overview of the factors influencing the level of R&D intensity.
The current 4% target to be reached by 2030 was set in 2019 but thus far relatively
few policy actions have been introduced to operationalise it. With these dynamics
and uncertainty, it remains to be seen if the target will be reached by 2030.
Published on June 28, 2021
In series:OECD Science, Technology and Industry Working Papersview more titles