OECD Science, Technology and Innovation Outlook 2021
Times of Crisis and Opportunity
In immediate responses to the COVID-19 crisis, science and innovation are playing
essential roles in providing a better scientific understanding of the virus, as well
as in the development of vaccines, treatments and diagnostics. Both the public and
private sectors have poured billions of dollars into these efforts, accompanied by
unprecedented levels of global cooperation. However, the economic crisis that is currently
unfolding is expected to severely curtail research and innovation expenditures in
firms, while debt-laden governments will face multiple, competing demands for financial
support. These developments threaten to cause long-term damage to innovation systems
at a time when science and innovation are most needed to deal with the climate emergency,
meet the Sustainable Development Goals, and accelerate the digital transformation.
Governments will need to take measures to protect their innovation systems as part
of their stimulus and recovery packages, but should also use these as opportunities
for reforms. In particular, science, technology and innovation (STI) policy should
shift towards supporting a more ambitious agenda of system transformation that promotes
a managed transition to more sustainable, equitable and resilient futures.
Published on January 12, 2021Also available in: French