Angel Gurría recalled the role played by the OECD Bologna Process and Charter and the "need to harness the potential of SMEs and entrepreneurs in the fight against unemployment, social exclusion and poverty" in his remarks to the “Bologna+10” High-level Meeting.
The spectacular success of several well-known new ventures in technological fields, which in little more than a decade have jumped from the state of start-ups to that of top international businesses, has pointed to innovation as a key factor in the high growth of firms. These high-growth enterprises often drive job creation and innovation, so policy makers are increasingly making such companies a key focus. Specifically, how can government policy foster the creation of more high-growth enterprises; what are the growth factors, and how can they be leveraged; what are the appropriate ways to provide such support?
To help answer these questions, this report presents findings from two new research studies: (1) reports from 15 countries (Australia, Brazil, Canada, Chile, Czech Republic, Finland, France, Italy, Japan, Mexico, Netherlands, Portugal, Spain, Switzerland and Tunisia) that provide interesting insights into the operations of and challenges faced by high-growth enterprises; (2) a policy survey by the OECD Working Party on SMEs and Entrepreneurship, which reviewed more than 340 programmes that policy makers in 24 countries have put in place to support the growth of enterprises.
Some of this report’s findings may surprise: any firm can be a growth company; growth is almost always a temporary phase; high-growth small firms are funded mostly by debt, not equity. These and many more insights are summarised and analysed, providing policy makers with ideas on how to power growth at the firm level.
The dramatic collapse in world trade in 2009 is, this report shows, mainly due to: the drop in demand for highly traded products; the drying up of trade finance; and the vertically integrated nature of global supply chains. Contrary to expectations, protectionist measures were relatively muted and did not play a significant part. In fact, because of their sheer size, stimulus measures may have had more impact on trade than direct trade policy measures Nevertheless, dollar for dollar, direct trade restricting measures have the most strongly negative impacts on growth and employment: a one dollar increase in tariff revenues results in a USD 2.16 drop in world exports and a USD 0.73 drop in world income.
The analyses presented here suggest that exit strategies from measures to deal with the crisis will be most effective in boosting growth and jobs if they first roll back measures that discriminate between domestic and foreign firms and those that target specific sectors. General demand stimulus measures and active labour market policies are preferable under current conditions.
The rapid growth of entrepreneurship and small firms has been one of the greatest successes in post-Communist transformation in Poland. SMEs have greatly contributed to employment, investment and value added in the Polish economy. However, key barriers to further growth remain in the business environment for SMEs and entrepreneurs. This book sets out the current SME and entrepreneurship climate, reviews SME and entrepreneurship issues and policies at national and local levels, and provides observations and recommendations for improving and supporting entrepreneurship and SMEs in Poland.
The markets for goods and services have undergone significant changes over the past 20 years. Regulatory reform, global markets, new technologies and growth in the role of services in economic activity have driven the changes which, in many instances, have provided significant benefits to consumers. Relatively little attention has been paid to the challenges these developments have posed for consumers. More choice and more complexity in many markets have made it increasingly difficult for them to compare and assess the value of products and services. The challenges for consumers have raised similar challenges for the government authorities responsible for protecting them from unfair commercial practices and fraud.
This book examines how markets have evolved and provides insights for improved consumer policy making. It explores, for the first time, how what we have learned through the study of behavioural economics is changing the way policy makers are addressing problems.
Measuring Innovation: A New Perspective presents new measures and new ways of looking at traditional indicators. It builds on 50 years of indicator development by OECD and goes beyond R&D to describe the broader context in which innovation occurs. It includes some experimental indicators that provide insight into new areas of policy interest. It highlights measurement gaps and proposes directions for advancing the measurement agenda.
This publication begins by describing innovation today. It looks at what is driving innovation in firms, and how the scientific and research landscape is being reconfigured by convergence, interdisciplinarity and the new geography of innovation hot spots. It presents broader measures of innovation, for example using new indicators of investment in intangible assets and trademarks.
Human capital is the basic input of innovation, and a series of indicators looks at how well education systems are contributing to the knowledge and research bases. Further series examine how firms transform skills and knowledge, and shed light on the different roles of public and private investment in fostering innovation and reaping its rewards, with concrete examples from major global challenges such as health and climate change.
Measuring Innovation is a major step towards evidence-based innovation policy making. It complements traditional “positioning”-type indicators with ones that show how innovation is, or could be, linked to policy. It also recognises that much more remains to be done, and points to the measurement challenges statisticians, researchers and policy makers alike need to address.
Small firms are playing an ever-increasing role in innovation, driven by changes in technologies and markets. Some spin-offs and high growth firms are having remarkable success. However, the broad bulk of small firms are not capitalising on their advantages. This book explores how government policy can boost innovation by improving the environment for entrepreneurship and small firm development and increasing the innovative capacities of enterprises. Policy findings and recommendations are presented in three key areas: embedding firms in knowledge flows; developing entrepreneurship skills; and social entrepreneurship. In addition, country notes present statistics and policy data on SMEs, entrepreneurship and innovation for 40 economies, including OECD countries, Brazil, China, Estonia, Indonesia, Israel, the Russian Federation, Slovenia and South Africa.
SMEs, Entrepreneurship and Innovation is part of the OECD Innovation Strategy, a comprehensive policy strategy to harness innovation for stronger and more sustainable growth and development, and to address the key global challenges of the 21st century. For more information about the OECD Innovation Strategy, see www.oecd.org/innovation/strategy.
The global steel industry is gradually emerging from one of its worst downturns in decades. Despite some improvement in market conditions, the steel industry still faces challenging years ahead.
Innovation has become a key factor for economic growth, but how does the process take place at the level of individual firms? This book presents the main results of the OECD Innovation Microdata Project -- the first large-scale effort to exploit firm-level data from innovation surveys across 20 countries in an internationally harmonised way, with a view to addressing common analytical questions. Through the use of common indicators and econometric modeling, this analytical report presents a broad overview of how firms innovate in different countries, highlights some of the limitations of current innovation surveys, and identifies directions for future research.
This publication explores the success of major innovation and entrepreneurship clusters in OECD countries, the challenges they now face in sustaining their positions and the lessons for other places seeking to build successful clusters. What are the key factors for cluster success? What problems are emerging on the horizon? Which is the appropriate role of the public sector in supporting the expansion of clusters and overcoming the obstacles?
The book addresses these and other issues, analysing seven internationally reputed clusters in depth: Grenoble in France, Vienna in Austria, Waterloo in Canada, Dunedin in New Zealand, Medicon Valley in Scandinavia, Oxfordshire in the United Kingdom, and Madison, Wisconsin, in the United States. For each cluster, it looks at the factors that have contributed to its growth, the impact of the cluster on local entrepreneurship performance, and the challenges faced for further expansion. It also puts forward a set of policy recommendations geared to the broader context of cluster development.
This publication is essential reading for policy makers, practitioners and academics wishing to obtain good practices in cluster development and guidance on how to enhance the economic impact of clusters.