Etla

”Licence to SHOK?” External evaluation of the strategic centres for science, technology and innovation

Terttu Luukkonen — Wed, 13 Feb 2013 13:39:06 +0000

Publication year: 2013
Pages: 405
Language: English
Not available from ETLA
Other articles 620

Publications of the Ministry of Employment and the Economy.Enterprise and innovation department 2013 nro 1

Download from the Ministry’s website

Technology Standards in China

Kaija Hyvönen-Rajecki — Thu, 07 Feb 2013 12:24:20 +0000

Publication year: 2013
Pages: 4
Price: Available only online
Language: English

ETLA Muistio – ETLA Brief No 3
ISSN 2323-2463

Eurogrowth indicator points to a stabilization in the Euro Area

admin — Thu, 07 Feb 2013 08:58:55 +0000

The Eurogrowth Indicator, calculated by the Euroframe group in the beginning of February, points to a frail recovery of Euro Area growth in the winter after a technical recession in last summer and autumn. In line with the January estimate, the February indicator predicts zero quarter-on-quarter GDP growth for the last year’s final quarter. However, the estimate for the first quarter of 2013 inched up by 0.1 percentage points indicating some firming of the recovery. Nevertheless, total output in the Euro Area would still remain 2.3 per cent below the last peak in the first quarter five years ago, although only 0.1 per cent lower than in the first quarter last year.

The slight rebound in the outlook from January stems from a small rise in the contribution of construction confidence. The real exchange rate of euro vis-à-vis the US dollar, which affects the indicator with a lag of two quarters, has contributed positively to the Euro Area GDP growth for five consecutive quarters already. The effect of the recent strengthening of the euro is not yet visible, but it will – if permanent – begin to reduce the contribution in coming quarters. The turnaround in stock prices in early summer 2012 with some set-back in the autumn has supported the indicator especially in the reviewed quarters. On the other hand, the contributions of industrial and household confidence still continue to depress growth predictions on the quarterly basis, although the recently improved monthly surveys point to change for the better.

The predicted end of the recession followed by a fragile recovery is very vulnerable to changes in economic agents’ expectations. Deepening political problems in the Euro Area crisis countries could mark a turn for the worse by depressing industrial and household as well as dent the rise in stock prices also in other countries. The encouraging stabilization of government bond markets since last August owes much to the announcement of the OMT programme by the ECB and the coincident progress in plans on banking inspection and resolution. Needless to say any setbacks in the implementation of these plans could easily change expectations for the worse and depress growth.

February 4, 2013
Paavo Suni
The Research Institute of the Finnish Economy, ETLA

Network! Network! Network! How global technology start-ups access modern business ecosystems

Antti-Jussi Tahvanainen — Tue, 29 Jan 2013 13:56:09 +0000

Abstract: This study explores the very first mile in entrepreneurial networking by examining what entrepreneurs really do to connect to critical stakeholders and, thereby, to integrate into foreign business ecosystems. Reverting to explorative, inductive methodology, the study contributes to the existing body of knowledge by approaching networking from a rare angle; networking as practice. The study examines (i) the precepts and principles that direct the start-ups’ networking efforts, (ii) the practices they employ to identify relevant partners and establish connections to them, (iii) the practices they make use of in the interface of newly established connections to sway and commit the respective partners to their cause and network, and finally (iv), the practices that offshore governmental agency nodes apply to help start-ups assimilate to foreign local ecosystems. We found that firms need to embrace and learn how to exploit serendipitous networking opportunities to gain access to stakeholders that purely ansoffian planning approaches could never uncover. The exploitation of serendipity necessitates flexibility with regard to the start-ups’ existing product or service concepts, strategies and business plans because in the serendipitous mode these are often re- and co-designed with newly encountered stakeholders. Many of the actual networking practices were found to have evolved together with the progress of other dominant megatrends such as the spread and acceptance of social and other digital media. Such progress seems to have endogenously affected some of the conventional cultural tenets of networking, helping to bypass hierarchical gatekeepers in organizations, for instance. In addition, the diffusion and acceptance of more content- and context-rich communication techniques such as social and mobile video, prototyping and story-telling have made pitching a proposal faster, more holistic, experiential and interactive. We further found that offshore governmental agency nodes can play a decisive role in accelerating and facilitating the integration of foreign newcomers into a local ecosystem. Important prerequisite for the capability to provide such services is a respected and established status within the ecosystem, a vast, cross-sectoral network, and professional employees with hands-on industrial experience in the respective ecosystem.

Publication year: 2013
Pages: 32
Price: 15 €
Language: English

ETLA Working Papers No 4
ISSN 2323-2439

Transformations of global mobile telecommunication supplier networks

Timo Seppälä — Mon, 14 Jan 2013 12:29:20 +0000

in The Offshoring Challenge: Strategic Design and Innovation for Tomorrow’s Organization ( Eds.: Pedersen, T.; Bals, L.; Ørberg Jensen, P.D.; Larsen, M.M. ) Chapter 19, Springer Publishing in the Production and Process Engineering Series

Publication year: 2013
Pages:
Language: English
Not available from ETLA
Other articles 618

Tracking offshoring and outsourcing strategies in global supply chains

Timo Seppälä — Mon, 14 Jan 2013 10:57:41 +0000

in The Offshoring Challenge: Strategic Design and Innovation for Tomorrow’s Organization ( Eds.: Pedersen, T.; Bals, L.; Ørberg Jensen, P.D.; Larsen, M.M. ) Chapter 4, Springer Publishing in the Production and Process Engineering Series

Publication year: 2013
Pages:
Language: English
Not available from ETLA
Other articles 617

Matching in the housing market with risk aversion and savings

Niku Määttänen — Mon, 14 Jan 2013 07:14:14 +0000

Abstract:We develop a model of the housing market that features both financial and matching frictions. In the model, risk-averse households may save or borrow in order to smooth consumption over time and finance owner housing. Each household either rents or owns its house. Some renter households become dissatisfied with rental housing and want to buy a house. Prospective sellers and buyers meet randomly and bargain over the price. We show how the outcome of the bargaining process depends on buyer’s and seller’s asset positions. The results also illustrate how financial frictions magnify the effects of matching frictions. For instance, because of the borrowing constraint, some matches do not result in trade and identical houses are traded at different prices.

Publication year: 2013
Pages: 34
Price: 15 €
Language: English
ETLA Working Papers No 3
ISSN 2323-2439 (pdf-online)

ETLA and FIIA to study the future direction of the EU after the economic crisis

admin — Thu, 10 Jan 2013 15:07:30 +0000

The Jane and Aatos Erkko Foundation has granted 530 000 euros for a research project focusing on EU’s future direction after the economic crisis. The study will evaluate EU’s development trends and their implications for the EU and Finland. The research project seeks to support political decision-making as well as public debate.

The project is carried out by the Research Institute of the Finnish Economy (ETLA) and the Finnish Institute of International Affairs (FIIA) and researchers from both organisations will take part in the project. The study will be finished by the summer of 2014. The project is led by Research Director Markku Kotilainen (ETLA) and Director Teija Tiilikainen (FIIA).

Further information:

Markku Kotilainen (ETLA)
+358 50 35111 92
markku.kotilainen@etla.fi

Teija Tiilikainen (FIIA)
+358 9 432 7701
teija.tiilikainen@fiia.fi

“Towards a better governance in the EU?” 13th Euroframe-conference.

admin — Mon, 07 Jan 2013 08:19:16 +0000

Call for papers

Are the Nordic countries really less innovative than the US?

admin — Wed, 19 Dec 2012 15:04:53 +0000

Do the ‘cuddly’ Nordic countries free ride on the ‘cut-throat’ incentives for innovation in US-style economies? Don’t PCs, the internet, Google, Windows, iPhones and the Big Mac speak for themselves? ETLA’s Mika Maliranta, Niku Määttänen and Vesa Vihriälä argue in a column published on VoxEU that, despite a higher overall tax burden and more generous safety nets, the Nordics have generated at least as much – if not more – innovation than the US. So far, ‘cut-throat’ capitalism has not been the only road to an innovative economy.