Reigniting Growth Through Innovation: Challenges and Answers

Kuusi TeroAli-Yrkkö JyrkiHelanummi-Cole HeliKoski HeliKovalainen AnneKässi OttoPoutanen SeppoValmari Nelli

Abstract

The Reigniting growth through innovation project, funded by Business Finland between 2020 and 2022, addressed the key challenges to the current growth paradigm and searched for novel policy levers to increase the effectiveness of innovation in a landscape of global turmoil following the pandemic. In this article, we summarize the key findings of this project, which focused on three innovation challenges and the design of policies that can help mitigate the problems that arise. The first challenge is the recent slowdown in the creation and adoption of new breakthrough ideas in innovation and the barriers to knowledge adoption. The second challenge is to maintain innovation and flexibility in production while companies increasingly outsource their core activities beyond traditional company boundaries. The third challenge is how to support creative destruction and structural change while avoiding considerable friction in the movement of resources between old and new companies.

Information om publikationen

Forskningsgrupp
Makroekonomi och den offentliga ekonomin
Serie
ETLA Muistio - ETLA Brief 116
Datum
09.11.2022
Nyckelord
Productivity, Innovations, Competition, Outsourcing, Platform companies, Creative destruction
ISSN
2323-2463
JEL
D22, D24, D43, O32, O38
Sidor
10
Språk
Finska