Innovation-led Pathways to Economic Growth

Innovation-led Pathways to Economic Growth

The Finnish economy has witnessed slow economic growth since the financial crisis in 2008. The business landscape and innovation patterns have changed during the past decade, e.g., through the new sustainability goals arising from climate change and tightened competition for skilled workers. New sources of economic growth have emerged, but we still lack knowledge on how to best promote their creation and exploitation. Adapting to inevitable climate and environment policy measures, such as the Finnish government’s goal of achieving carbon neutrality and the population ageing, also set boundary conditions for economic activity.

The aim of this research project is to produce information about new sources of innovation-led growth and help decision-makers identifying of how the creation and utilization of new sources of sustainable growth could best be promoted in Finland. The results of the project will help Finnish decision-makers in planning effective innovation policy (and related) measures, focusing on the opportunities offered by green innovations, sustainable development, and immigration. Information is essential to get Finland back on the growth path after more than ten years of slow economic growth.

 

The project aims to answer the following research questions:

  • How does companies’ renewal through product switching contribute to resource allocation and productivity growth?
  • Which policies best promote green innovation and Finland’s green products export success?
  • What are the best alternatives for energy producers to reduce their GHG emissions?
  • How do immigration and innovation and related policies affect innovation and growth?

Responsible for research: