The current crisis is the first of this severity to hit OECD countries, since they have shifted to knowledge-based service economies where investment in intangible assets if of equal importance as investment in machinery, equipment and buildings. Efforts to stimulate the economy need to both reflect the current drivers of economic growth and take advantage of the process of “creative destruction” to accelerate structural shifts towards a stronger and more sustainable economic future. Innovation policies need to be adapted to current conditions both in terms of how such policies are crafted to work, but also as elements of stimulus packages that may often be the foundation for these medium- and long-term initiatives.
The OECD is developing a strategic response to the crisis focusing on two priority areas: finance, competition and governance; and restoring long-term growth. As part of this strategic response, the OECD Directorate for Science, Technology and Industry (DSTI) has analysed the likely impact of the downturn on the drivers of long term economic growth and the innovation-related items in policy responses of major countries. Special workshops and sessions on the economic crisis were held by the Committee for Innovation, Industry and Entrepreneurship, the Committee for Scientific and Technological Policy, and the Committee for Information, Computer and Communications Policy. In January 2009, the OECD Directorate for Science, Technology and Industry circulated a questionnaire to member countries to collect information on specific innovation-related items of their stimulus packages. By May 2009, 27 member countries, all five OECD accession countries (Chile, Estonia,Israel, Russia and Slovenia) and South Africa had answered the questionnaire. In May 2009, the three OECD Committees recommended to make public, under their responsibility, this updated version.
This report presents the results of this exercise: the first chapter reports the general analysis of the impact of the crisis and the appropriate policy responses, and the second chapter reviews current national responses.
This report was prepared by Dominique Guellec and Sacha Wunsch-Vincent of the OECD Secretariat. It has benefitted from inputs, co-ordination and oversight by Jean Guinet, Dirk Pilat, Graham Vickery and Andy Wyckoff (OECD).
The OECD Secretariat would like to express its appreciation to all OECD countries for responding to the questionnaire and working on all phases of this report.