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Policy Responses to the Economic Crisis: Investing in Innovation for Long-Term Growth

Author

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  • Dominique Guellec

    (OECD)

  • Sacha Wunsch-Vincent

    (OECD)

Abstract

The OECD is developing a strategic response to the crisis focusing on two priority areas: finance, competition and governance; and restoring long-term growth. As part of this strategic response, the OECD Directorate for Science, Technology and Industry (DSTI) has analysed the likely impact of the downturn on the drivers of long term economic growth and the innovation-related items in policy responses of major countries. Special workshops and sessions on the economic crisis were held by the Committee for Innovation, Industry and Entrepreneurship, the Committee for Scientific and Technological Policy, and the Committee for Information, Computer and Communications Policy. In January 2009, the OECD Directorate for Science, Technology and Industry circulated a questionnaire to member countries to collect information on specific innovation-related items of their stimulus packages. By May 2009, 27 member countries, all five OECD accession countries (Chile, Estonia, Israel, Russia and Slovenia) and South Africa had answered the questionnaire. In May 2009, the three OECD Committees recommended to make public, under their responsibility, this updated version. This report presents the results of this exercise: the first chapter reports the general analysis of the impact of the crisis and the appropriate policy responses, and the second chapter reviews current national responses.

Suggested Citation

  • Dominique Guellec & Sacha Wunsch-Vincent, 2009. "Policy Responses to the Economic Crisis: Investing in Innovation for Long-Term Growth," OECD Digital Economy Papers 159, OECD Publishing.
    • Handle: RePEc:oec:stiaab:159-en
    DOI: 10.1787/222138024482
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    Cited by:

    1. Chindasombatcharoen, Pongsapak & Chatjuthamard, Pattanaporn & Jiraporn, Pornsit & Treepongkaruna, Sirimon, 2023. "Director age and corporate innovation: Evidence from textual analysis," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    2. Meesapawong, Pawadee & Rezgui, Yacine & Li, Haijiang, 2014. "Planning innovation orientation in public research and development organizations: Using a combined Delphi and Analytic Hierarchy Process approach," Technological Forecasting and Social Change, Elsevier, vol. 87(C), pages 245-256.
    3. Romain Bouis & Ane Kathrine Christensen & Boris Cournède, 2013. "Deleveraging: Challenges, Progress and Policies," OECD Economics Department Working Papers 1077, OECD Publishing.
    4. Hingley, Peter & Park, Walter G., 2017. "Do business cycles affect patenting? Evidence from European Patent Office filings," Technological Forecasting and Social Change, Elsevier, vol. 116(C), pages 76-86.
    5. Nayak, Dinesh Kumar & Hazarika, Bhabesh, 2022. "Linkage between Income and Government Expenditure at Indian Sub-nationals: A Second Generation Panel Co-integration Techniques," Working Papers 22/374, National Institute of Public Finance and Policy.
    6. Klaus Friesenbichler & Jürgen Janger & Agnes Kügler & Andreas Reinstaller, 2020. "Auswirkungen der COVID-19-Pandemie auf die Forschungs- und Innovationsaktivität," WIFO Studies, WIFO, number 66049.
    7. Viktor Prokop & Jan Stejskal, 2015. "Determinants of machinery firms' innovation activity - case study from the Czech Republic," ERSA conference papers ersa15p1111, European Regional Science Association.
    8. Adelheid Holl & Ruth Rama, 2016. "Persistence of innovative activities in times of crisis: the case of the Basque Country," European Planning Studies, Taylor & Francis Journals, vol. 24(10), pages 1863-1883, October.
    9. Dolores Añón Higón & Miguel Manjón & Juan A. Máñez & Juan A. Sanchis-Llopis, 2014. "Does R&D Protect Smes From The Hardness Of The Cycle? Evidence From Spanish Smes (1990-2009)," Working Papers 1411, Department of Applied Economics II, Universidad de Valencia.
    10. Aditya Ari Yudhanto & Emma Rochima & Rivani, 2023. "Strategic Entrepreneurship and the Performance of Women-Owned Fish Processing Units in Cibinong District, Bogor Regency," Economies, MDPI, vol. 11(3), pages 1-19, March.
    11. Nina Czernich & Oliver Falck & Tobias Kretschmer & Ludger Wößmann, 2009. "Breitbandinfrastruktur und wissensbasiertes volkswirtschaftliches Wachstum," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 62(23), pages 29-34, December.
    12. Filippetti, Andrea & Archibugi, Daniele, 2010. "Innovation in Times of Crisis: The Uneven Effects of the Economic Downturn across Europe," MPRA Paper 22084, University Library of Munich, Germany.
    13. Mohammad Nourani & VGR Chandran & Qian Long Kweh & Wen-Min Lu, 2018. "Measuring Human, Physical and Structural Capital Efficiency Performance of Insurance Companies," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 137(1), pages 281-315, May.
    14. Adelheid Holl & Ruth Rama, 2015. "Economic crisis and innovation: Do regions matter?," ERSA conference papers ersa15p87, European Regional Science Association.
    15. Anabela Santos, 2021. "Linking the ‘Recovery and Resilience Plan’ and Smart Specialisation. The Portuguese Case," JRC Working Papers on Territorial Modelling and Analysis 2021-05, Joint Research Centre.
    16. Hausman, Angela & Johnston, Wesley J., 2014. "The role of innovation in driving the economy: Lessons from the global financial crisis," Journal of Business Research, Elsevier, vol. 67(1), pages 2720-2726.
    17. Galina Shirokova & Liudmila Ivvonen & Elena Gafforova, 2019. "Strategic Entrepreneurship in Russia during Economic Crisis," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 13(3), pages 62-76.
    18. Roger Wettenhall, 2011. "Global Financial Crisis: The Australian Experience in International Perspective," Public Organization Review, Springer, vol. 11(1), pages 77-91, March.

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