IDEAS home Printed from https://ideas.repec.org/p/rif/briefs/116.html
   My bibliography  Save this paper

Reigniting Growth Through Innovation: Challenges and Answers

Author

Listed:
  • Kuusi, Tero
  • Ali-Yrkkö, Jyrki
  • Helanummi-Cole, Heli
  • Koski, Heli
  • Kovalainen, Anne
  • Kässi, Otto
  • Poutanen, Seppo
  • Valmari, 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.

Suggested Citation

  • Kuusi, Tero & Ali-Yrkkö, Jyrki & Helanummi-Cole, Heli & Koski, Heli & Kovalainen, Anne & Kässi, Otto & Poutanen, Seppo & Valmari, Nelli, 2022. "Reigniting Growth Through Innovation: Challenges and Answers," ETLA Brief 116, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:briefs:116
    as

    Download full text from publisher

    File URL: https://www.etla.fi/wp-content/uploads/ETLA-Muistio-Brief-116.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Productivity; Innovations; Competition; Outsourcing; Platform companies; Creative destruction;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rif:briefs:116. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kaija Hyvönen-Rajecki (email available below). General contact details of provider: https://edirc.repec.org/data/etlaafi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.