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...

Positioned in the context of the technology-based industrial emergence literature, this dissertation identifies and examines organizational, managerial, and institutional challenges that small and medium sized Finnish biotechnology companies have encountered during the emergence of the field as...

The study seeks to find out whether the real burden of the personal taxation has increased or decreased. In order to determine this, we investigate how the same real income has been taxed in different years. Whenever the taxes for the same real income for a given year are higher than for the...

The essays in this collection approach taxation as a group of policy instruments, and study how their use is connected to and affected by wage formation in the economy. In the first essay taxation acts as an automatic stabiliser in the face of different shocks. The study combines two theoretical...