Competitiveness and Knowledge Creation - The Finnish Path to a Knowledge Economy

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1 Competitiveness and Knowledge Creation - The Finnish Path to a Knowledge Economy Pekka Ylä-Anttila ETLA, Research Institute of the Finnish Economy Competitiveness: The Future Cornerstone of the Latvian Economy Conference Riga, 10 October 2007

2 Main points of presentation Economic performance Long run a catching-up economy Since the early 1990s as a knowledge economy ICT driven knowledge economy Role of Nokia Role of research and innovation policies Lessons learned? Challenges ahead Etlatieto Oy/ETLA 2

3 Finnish economic developments a long term Etlatieto Oy/ETLA 3

4 Standard of living relative to the UK in 1900, 1950 & 2000 (UK = 1, GPD per cap., PPP$, 90 p.) USA UK standard of living 1 Japan Sweden Half of UK std of living 0.5 Argentina Russia China Data sources: Maddison (2003), Penn World Tables, ETLA Etlatieto Oy/ETLA 4

5 GDP Volume, 1950=1 8 Western Europe Etlatieto Oy/ETLA 5

6 Economic performance since the early 1990s

7 GDP Growth in, Euro Area and EU, % European Union Euro area Etlatieto Oy/ETLA 7

8 has transformed our industrial structure Manufacturing output in billions of euros (2000 prices) Resource -driven Pulp & paper Data source: Statistics Investment -driven Metals & engineering Innovation -driven Chemicals Electronics & ICT Textiles? ICT? Renewal of traditional Industries? New industries? Etlatieto Oy/ETLA 8

9 in competitiveness rankings from mid-1990s Growth Competitiveness Rankings US #1 #2 according to The World Economic Forum upon comparing 100+ nations Etlatieto Oy/ETLA

10 as a knowledge economy The most ICT specialized economy

11 ICT sector s share in value added, employment and R&D ICT value added (% of business sector tot., 2000) Ireland Korea USA New Zealand Sweden Hungary UK Netherlands Belgium Japan Czech Rep. Norway Canada Denmark France Portugal Austria Australia Spain Italy Germany Mexico Slovak Rep. Greece Total Communic. & other eq. Computer & office eq. Services Sweden Canada Japan UK Netherlands Belgium France Norway Denmark Austria USA Korea Italy Australia Czech Rep. Spain Mexico Germany Portugal ICT employment (% of business sector tot., 2000) Communic. & other eq. Computer & office eq. Services Korea Sweden Japan USA Canada Ireland Netherlands Germany France Belgium UK Denmark Norway Italy Australia Spain Czech Rep. Poland R&D in ICT (Selected ICT ind., % of GDP, 2000) Manufacturing Services (for those avail.) 11 pekka_ya/esitelmä /k16

12 Nokia in the Finnish economy Nokia s estimated 2006 share in GDP % point contribution to GDP growth R&D (GERD) (BERD) Exports 2,9% 0,3-0,5% 33% 47% 17% Employment, total 1% Employment, manufacturing 5% Market value at HEX ~40% Source: ETLA estimates Etlatieto Oy/ETLA 12

13 R&D expenditure, % of GDP 4,50 4,00 3,50 3,00 2,50 2,00 1,50 Japan USA EU Sw eden China 1,00 0,50 0, Etlatieto Oy/ETLA 13

14 Role of public policies?

15 S&T Policies Phases of development No Master Plan in the 1990s roots in the 1970s and 1980s designing of policies and creating competitive advantages take time complementarities between policies, financial market liberalization, and institutional changes Phases of development The building phase of the 1960s and 1970s imitating, learning from others building institutions & organizations Technology phase s technology policy more target-oriented National Funding Agency for Technology and Innovation (Tekes) established commercialization of technologies Era of national innovation system 1990s the first country to adopt the concept collaboration nationally and internationally, including industry/university collaboration Interplay between education, science, technology, and commercialization concrete target: increase in R&D expenditure Etlatieto Oy/ETLA 15

16 Finnish overall R&D intensity Dedicated longer term R&D ( but still low public share ) Gross domestic expenditure (GERD) as a percentage of GDP. Source: OECD Main Science and Technology Indicators, Statistics Public share of business enterprise R&D OECD Percentage of BERD finance by government. Source: OECD Main Science and Technology Indicators. OECD Etlatieto Oy/ETLA 16

17 Mathematics Strong and early emphasis on education has paid off Reading literacy Science Problem solving 1. Hong Kong (550) 1. (543) 1. /Japan (548) 1. South Korea (550) 2. (544) 2. South Korea (534) 2. Hong Kong, China (539) 2. /Hong Kong, China (548) 3. South Korea (542) 3. Canada (528) 3. South Korea (538) 3. Japan (547) 4. Netherlands (538) 4. Australia (525) 4. Liechtenstein/Austr alia/macao (525) 4. New Zealand (533) 5. Liechtenstein (536) 5. Liechtenstein (525) 5. Macao (532) 6. Japan (534) 6. New Zealand (522) Source: OECD Programme for International Student Assessment (PISA) Etlatieto Oy/ETLA 17

18 Number of researchers, per thousand employed Sweden Japan United States Norway Australia Germany OECD total Korea Canada EU Etlatieto Oy/ETLA 18 United Kingdom Netherlands Spain Slovak Republic Hungary Poland Italy

19 From linear innovation model to systemic view in policies

20 Innovation supporting organizations The system in the 1980s Grants Loans Equity Services Universities Academy of Research institutes Venture capital (Sitra) Tekes National Funding Agency for Technology and innovation Basic research Applied research Product development Source: Evaluation of the Finnish Innovation Support System. FFI Finpro Kera & Guarantee Board Commercialization 20 pekka_ya/esitelmä /k14

21 Innovation supporting organizations The current system Grants Loans Equity Services Universities Academy of Research institutes Basic research Applied research Product development Source: Evaluation of the Finnish Innovation Support System. Tekes FFI Venture capital (FII, Sitra) Finnvera Finpro TE-Centers Commercialization 21 pekka_ya/esitelmä /k15

22 Innovation Environment in Resources and Funding 22 Total R&D of each organization in mill. euros. Funded from state budget in parenthesis. Tekes and Academy of are Funded entirely by the state budget.

23 Extent of collaboration with other firms and universities during innovation (Community Innovation Survey) Sweden Denmark Ireland UK France Netherlands Belgium EU Austria Germany Spain Portugal Greece Italy % of innovating firms Source: EU (2001), CIS Community Innovation Survey.

24 Share of small and medium-sized firms participating in R&D collaboration % Sweden Denmark Belgium France Netherlands Germany EU15 UK Austria Italy Poland Greece Source: EU: European Scoreboard, 2004 database Etlatieto Oy/ETLA 24

25 Lessons learned & Challenges ahead

26 Contribution of electronics and electrotechnical industry & Nokia to GDP growth, %-points 2.0% 1.5% Electronics 1.0% 0.5% 0.0% Nokia -0.5% ELINKEINOELÄMÄN TUTKIMUSLAITOS THE RESEARCH INSTITUTE OF THE FINNISH ECONOMY Sähkö- ja elektroniikkateollisuuden vaikutus Nokian vaikutus Etlatieto Oy/ETLA Source: ETLA/Ali-Yrkkö. 26

27 ICT production is moving offshore. The changes in global mobile phone export shares South Korea China Hungary Mexico Taiwan Netherlands Aus tria Czech Republic Spain Poland Italy Belgium Denmark Ireland Norway Hong Kong Germany Japan France United Kingdom Sweden United States -20,0-15,0-10,0-5,0 0,0 5,0 10,0 15,0 20,0 Source: Rouvinen Ylä-Anttila (2006). Data: OECD Foreign Trade Statistics Etlatieto Oy/ETLA 27

28 Lessons to be learned? Finnish miracle? policies played a role, but it is not the whole story business -driven process Models come and go Japan ranked the most competitive country in 1993 (!) by IMD Small country advantage? Yes, to some extent collaboration in innovation! Institutions matter Openness to the external world has to be combined with dense interaction (collaboration & networking) internally Consistency of policies & long-term view (innovation policies) Stability in the rules of the game Etlatieto Oy/ETLA 28

29 References Ylä-Anttila Palmberg (2007), Economic and Industrial Policy Transformations in. Journal of Industry, Competition and Trade 2007:7, Dahlman Routti Ylä-Anttila (eds.) (2006), as a Knowledge Economy. World Bank Institute. Washington DC Rouvinen, - Ylä-Anttila (2006). : A Prototypical Knowledge Economy?, in: Dutta De Meyer Jain Richter (eds.), The Information Society in an Enlarged Europe. Springer. Berlin, Heidelberg, New York. Rouvinen, Ylä-Anttila (2004), Little s Transformation to a Wireless Giant, in Dutta Lanvin Paua (eds), The Global Information Technology Report Towards an Equitable Information Society. Oxford University Press with World Economic Forum. New York & Oxford Etlatieto Oy/ETLA 29

30 Thank You! Etlatieto Oy/ETLA 30

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