This thesis studies the impacts of technology development and R&D subsidies. The first essay examines whether public and private R&D funding are substitutes or complements. Particular attention is paid to capital market imperfections by examining what kind of effect financial constraint has on...

The report looks at investment activity in Finland by industries and types of investment, and makes international comparisons. Investment rate (fixed investment in relation to GDP) fell in Finland in the early 1990s from an internationally high level to the average West European rate. Among key...

This study analyses how R&D expenditure impacts the productivity of companies. We analyse the productivity impact of R&D using a large panel dataset of Finnish firms over a nine-year period from 1996 to 2004. Our results are two-fold. In the short run (in 1-2 years) we find no statistically...

An increasing number of countries support private R&D activity by fiscal incentives in response to the tightening international tax competition. Consequently, the importance of direct R&D subsidies is diminishing. This paper describes R&D tax incentive mechanisms in OECD countries and surveys...

Companies face an expanding set of choices about where to locate their innovation activity, both within their home countries and abroad. This location choice also requires firms to make a simultaneous choice about the organizational structure of innovation activity : almost by definition,...

This study analyses the extent of outsourcing in Finnish manufacturing. We find that in the early 2000s, 60% of companies in the Metal, Engineering and Electronics industries (the Technology industry) on average have outsourced some of their functions. In other manufacturing industries, the...

Tässä tutkimuksessa simuloidaan lääkekehitykseen suuntautuneiden pienten ja keskisuurten biotekniikkayritysten tulevaisuutta, erityispainopisteenä kansantaloudelliset implikaatiot. Simulaatiossa huomioidaan vaihtoehtoisia kehityspolkuja, joiden avulla on arvioitu erilaisten...

This study analyses the economic impacts of R&D inputs. In the model employed, sectoral TFP growth is determined by the direct impact of R&D inputs on the volume of production via the improvement in the quality of production as well as by the diffusion of new technology through purchases of...