Innovation Policy in Hard Times: Lessons from the Nordic Countries

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Innovation Policy in Hard Times: Lessons from the Nordic Countries. / Benner, Mats.

I: European Planning Studies, Vol. 20, Nr. 9, 2012, s. 1455-1468.

Forskningsoutput: TidskriftsbidragArtikel i vetenskaplig tidskrift

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TY - JOUR

T1 - Innovation Policy in Hard Times: Lessons from the Nordic Countries

AU - Benner, Mats

PY - 2012

Y1 - 2012

N2 - The current economic crisis has so far mostly triggered short-term responses like corporate bailouts and rescue packages for ailing industries. This indicates that the crisis has been constructed as an event, a "great recession", primarily caused by governance failures in the financial sector. However, it may also be interpreted as a more fundamental crisis of the economic growth model as such, calling for a broad-ranged overhaul of policies for economic growth and employment, entailing a more pivotal role for innovation policy. This paper analyses the preconditions for such radical policy changes. The economic crisis of the Finnish and Swedish economies in the early 1990s was countered by a three-layered transformation of public policies, comprising macroeconomic stringency, renovations of social and employment policies, and massive investments in public innovation support. The institutional preconditions for such layered policy responses are discussed and some implications for contemporary crisis policy are presented.

AB - The current economic crisis has so far mostly triggered short-term responses like corporate bailouts and rescue packages for ailing industries. This indicates that the crisis has been constructed as an event, a "great recession", primarily caused by governance failures in the financial sector. However, it may also be interpreted as a more fundamental crisis of the economic growth model as such, calling for a broad-ranged overhaul of policies for economic growth and employment, entailing a more pivotal role for innovation policy. This paper analyses the preconditions for such radical policy changes. The economic crisis of the Finnish and Swedish economies in the early 1990s was countered by a three-layered transformation of public policies, comprising macroeconomic stringency, renovations of social and employment policies, and massive investments in public innovation support. The institutional preconditions for such layered policy responses are discussed and some implications for contemporary crisis policy are presented.

U2 - 10.1080/09654313.2012.709061

DO - 10.1080/09654313.2012.709061

M3 - Article

VL - 20

SP - 1455

EP - 1468

JO - European Planning Studies

JF - European Planning Studies

SN - 1469-5944

IS - 9

ER -