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Permanent URL of this page: www.oecd.org/innovation/crisis
Countries around the world are facing an era of profound economic crisis and change. Industries are reeling, unemployment is soaring and investments vital to innovation and future growth are at risk. Governments have amassed billions of dollars in stimulus funds, but the hard work of rebuilding damaged economies has barely begun.
The key to restoring long-term growth is our ability to innovate. By investing smart, governments can buffer the downturn, accelerate recovery and lay the foundation for strong and sustainable growth.
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ICT industry poised to rebound, says new OECD report
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Is the ICT industry recovering? Global production and trade of information and communications technology goods turned up sharply in May and June – and ICTs may be among the first of crisis-stricken industries to start growing again, according to a new OECD report. After plunging 30-40% earlier this year, Asian production is now showing month-to-month improvement and China is up nearly 3% year-on-year.
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Policies for restructuring and renewal in the automotive and construction industries
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The automotive and construction industries are among the hardest hit by the crisis. The paper Responding to the Economic Crisis - Fostering Industrial Restructuring and Renewal examines the impact of the global economic downturn on the long-term competitiveness of the automotive and construction sectors and explores how governments can support restructuring and renewal without distorting market dynamics.
A sharp fall in venture capital investment threatens to undercut innovation and long-term growth
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A June 2009 OECD report points to innovation as key to a durable recovery. Governments can help prime the engine for long-term growth by channeling crisis funds to research and development, entrepreneurs and education. They should avoid supporting uncompetitive businesses and industries.
Finland and Korea both increased spending on innovation and education during recent economic crises, and benefitted from exceptionally strong growth on the rebound.
Download the full report Policy Responses to the Economic Crisis: Investing in Innovation for Long-Term Growth
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Investment in venture capital
has fallen sharply
Source: PricewaterhouseCoopers and National Venture Capital Association
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Green growth: overcoming the crisis and beyond
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Many governments are using the economic crisis as an opportunity to invest in a “green recovery.” Key targets for stimulus funds include investments in “smart” buildings, transport systems, and electricity grids as well as renewable energies and pollution control. A June 2009 paper provides guidance in supporting green industries and accelerating the shift to a low-carbon economy.
Download the full report Green Growth : Overcoming the Crisis and Beyond
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Investing in infrastructure to drive recovery
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Broadband networks are key to sustainable growth
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High-speed communications networks are a vital platform for 21st century commerce and industry. They enable innovation and boost productivity. Broadband is crucial to “smart” energy-saving electricity grids, smart buildings and smart transport systems that will underpin a greener economy. A June 2009 OECD paper argues that efficient government spending on communications infrastructure can help speed recovery and lay the foundation for sustainable growth.
Download the full report The Role of Communication Infrastructure Investment in Economic Recovery
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Historical growth rates of GDP and telecommunication investment, total OECD, 1980-2007
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The absolute size of fiscal packages
(revenue and spending measures)
2008-10, in absolute USD millions
 
See where the money is going: click here to see main spending targets by country.
The biggest green stimulus plan is Korea’s at USD 42.7 billion – including investments in intelligent transport. For more on how information technologies can green the economy, see www.oecd.org/sti/ict/green-ict.
Starting in October 2009, the OECD will publish a “Crisis Scoreboard” to track the impact of the crisis on innovation. It will include series of monthly and quarterly indicators and will be updated regularly on the OECD website.
Further information, including background reading, publications and events, can be found on the OECD Innovation Strategy site.
Permanent URL: www.oecd.org/innovation/crisis
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