Policy Responses to the Economic Crisis

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, theOECD Directorate for Science, Technology and Industry (DSTI) has analysed the likely impact of thedownturn on the drivers of long term economic growth and the innovation-related items in policyresponses of major countries. Special workshops and sessions on the economic crisis were held bythe Committee for Innovation, Industry and Entrepreneurship, the Committee for Scientific andTechnological Policy, and the Committee for Information, Computer and Communications Policy. InJanuary 2009, the OECD Directorate for Science, Technology and Industry circulated a questionnaireto member countries to collect information on specific innovation-related items of their stimuluspackages. 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 threeOECD 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 ofthe impact of the crisis and the appropriate policy responses, and the second chapter reviewscurrent national responses.