Although systems of innovation approach is gaining popularity among researchers and policy-makers, it is still rather difficult to apply this approach to specific policy settings and designs, because the approach is too general and does not provide many direct suggestions for building up an...

While research and development expenditures are considered a key to productivity growth and development, the question remains whether their contribution could depend on the particular countries’ and industries’ actual development levels and positions in global value chains. In this paper we...

This article is resting on the theoretical model of Braun (2003) describing the delegation modes for public funding of research in the principal-agent framework. It aims to show by using the conceptualisation of utility functions of principal and agents on the various levels, how different...

Current paper is focused on analyzing the economic benefit of increasing maximum allowed truck weight for Estonian forest sector. It is producing economic benefits to the firms of forest sector in two broad areas. The change in truck weight limit regulation is causing the reduction of...

The paper aims to identify the role of different sources of innovation for the Estonian wood sector. Comparing data from survey of Innovation in Estonian Enterprises 1998 2000 with similar Finnish data reveals that linkages in Estonian forest and wood cluster are relatively weaker regarding...

Quangos and public entrepreneurship are closely related. The economic theory of quangos allows us to develop a quango theory and highlight the effects of public entrepreneurship. By considering principal agent relations we show how public entrepreneurship of government and quango influence each...