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Innovation Policy in Hard Times: Lessons from the Nordic Countries

Benner, Mats LU (2012) In European Planning Studies 20(9). p.1455-1468
Abstract
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,... (More)
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. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
European Planning Studies
volume
20
issue
9
pages
1455 - 1468
publisher
Taylor & Francis
external identifiers
  • wos:000308703000003
  • scopus:84866335587
ISSN
1469-5944
DOI
10.1080/09654313.2012.709061
language
English
LU publication?
yes
id
05a23b6e-9a6f-4d3c-a3ad-7e041763b0b6 (old id 3146706)
date added to LUP
2012-11-26 10:10:01
date last changed
2017-11-12 03:03:30
@article{05a23b6e-9a6f-4d3c-a3ad-7e041763b0b6,
  abstract     = {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.},
  author       = {Benner, Mats},
  issn         = {1469-5944},
  language     = {eng},
  number       = {9},
  pages        = {1455--1468},
  publisher    = {Taylor & Francis},
  series       = {European Planning Studies},
  title        = {Innovation Policy in Hard Times: Lessons from the Nordic Countries},
  url          = {http://dx.doi.org/10.1080/09654313.2012.709061},
  volume       = {20},
  year         = {2012},
}