While there has been a recent revival of interest in industrial policy around the world, systematic evidence of efficacy is relatively scarce. This report considers recent evidence from the evaluation of industrial policy. It focuses on three specific policy areas: support for R&D, capital market interventions (with a focus on risk capital), and public procurement for innovation.
This paper aims to provide an introduction to and overview of the social investment market for policy makers. Social investment is the provision of finance to organisations with the explicit expectation of a social, as well as financial, return. It has become increasingly relevant in today’s economic environment as social challenges have mounted while public funds in many countries are under pressure.
Data set on R&D expenditure by industry which addresses the problems of international comparability and breaks in the time series of the official business enterprise R&D data.
Business dynamics – entry and expansion of successful businesses, and the contraction and exit of the least productive ones – are at the core of the creative destruction process, resource reallocation and productivity growth. To address these issues, the OECD has embarked on the Dynamics of Employment ("DynEmp") project.
The Korean innovation system is in many ways highly developed and has helped to underpin Korea’s rapid industrialisation. However, long-standing policy emphases on manufacturing and large firms are today in question. Structural problems - such as the relatively weak innovation performance of SMEs, a lagging services sector and limited domestic job creation among the industrial conglomerates - have led to a shift in policy priorities. This shift is crystallised in the current government’s Creative Economy Strategy, which entails a far-reaching set of measures aimed at fostering cutting-edge innovation and consolidating a knowledge-based economy increasingly driven by high-value services. This review addresses Korea’s industry and technology policies and institutions, and provides policy recommendations.
The STAN database provides analysts and researchers with a comprehensive tool for analysing industrial performance at a relatively detailed level of activity across countries.
Risk finance is essential for new ventures to commercialise new ideas and grow, especially in emerging sectors. Yet very little is known about the drivers and characteristics of risk finance in the green sector. This paper aims to fill this gap by providing a detailed description of risk finance in the green sector across 29 countries and identifying the role that policies might have in shaping high-growth investments.
This paper highlights the growth in support for financial instruments for seed and early-stage firms across OECD countries. These instruments include grants, loans and guarantee schemes, tax incentives and equity funds. This increased support is linked to the recent financial crisis and the growing concern about young firms’ access to finance.
Finding new sources of growth right now is tough. And in a time of rising inequality, to do so equitably and fairly is even tougher. Innovation can help, but with budgets stretched to the limit how can governments boost innovation in their economies?
Most OECD governments use tax incentives to encourage businesses to invest in research and development (R&D) to boost innovation and drive economic growth. Others, like China, India and South Africa, are doing the same. But reforming these incentives would give countries a better return on their investment and support young innovative firms that play a crucial role in job creation, according to a new OECD report.