The Bologna Process and the economic impacts of research and development within the context of europeanization: The case of Finland

Abstract

Higher education and public research play an important role in economic development, mainly in industrial research and development (R & D) and innovation through the manufacturing sector. Finland has taken great strides in this regard as it represents a Europeanization of a knowledge system in the European Union, being relevant at the international level for the outstanding development the economy has witnessed throughout the R & D sector while facing international challenges. The available database from Tekes (on the current state of the Finnish R & D sector) provided records of the gradual development of the sector over time and at different levels of the Finnish knowledge system. The article does not describe major policy measures of the Bologna process but rather attempts to consider the economic rationale of R & D development and its economic impacts in Finland within the Bologna framework. The article is concerned with the ways in which Finnish R & D under specific conditions has given results at the economic level with the Europeanization process and its subsequent policies. A synoptic view is given of higher education research strategies in terms of R & D and the article also touches on the issue of the general effects of the development of R & D and its economic relevance in light of the Bologna reforms.