1. Is there a New Economy and what are the policy implications?
Thomas Andersson
Directorate for Science, Technology and Industry
OECD

4. Average annual growth rates (%) 1990-98
Contributions of labour utilisation and labour productivity to growth of GDP per capita
Average annual growth rates (%)

10. THE INNOVATION PROCESS
NOT LINEAR
Design R M
Dev.
Ideas
technol.
R: research
M: market
scientists
competitors
suppliers
customers

13. Venture capital investment in early stages and expansion as a percentage of GDP, 1995-99

17. Best policy practice and policy recommendations in individual areas of innovation and technology diffusion policy

18. Best policy practice and policy recommendations in individual areas of innovation and technology diffusion policy

19. Policy Implications Openness to a World of Ideas Human Capital
Spreading the Risks
government as a sponsor of high-risk research
improving networks of innovation
new types of finance and risk management
Openness to a World of Ideas
Human Capital
Maximizing the benefits of ICTs
regulatory reform
increasing the absorptive capacity of services

20. What it means for Regulation
Domestically, an integrated approach of
Minimal non-discriminatory regulation, and
Market-driven self-regulatory mechanisms
Internationally, no global regulation, instead
policy co-ordination underpinned by
general policy principles
Participation of the stakeholders in policymaking

21. Instruments for Policy Implementation
Better prioritisation
Broader policy packages
Decentralisation
More outward-looking policy frameworks,
transparency and critical review
Co-operation with Stakeholders, including
Public-private partnership

22. Innovation Policy Positioning: Traditional
Environment
Scientists
Research
Education
NGOs
Trade
Etc.
Firms
Finance
Industry
Labour
Unions

23. Innovation Policy Positioning: Traditional
Environment
Scientists
Research
Education
NGOs
Trade
I.P.
Etc.
Firms
Finance
Industry
Labour
Unions

24. Innovation Policy Positioning: Implicit
Environment
Scientists
Research
Education
NGOs
Trade
Etc.
Firms
Finance
Industry
Labour
Unions

25. Innovation Policy: Explicit Positioning
Environment
Scientists
Research
Education
NGOs
Trade
Etc.
I. P.
Firms
Finance
Industry
Labour
Unions

26. Innovation Policy: Explicit Positioning
Environment
Scientists
Research
Education
NGOs
Trade
Etc.
I. P.
Firms
Finance
Industry
Labour
Unions