Using Patent Development, Education Policy and Research and Development Expenditure Policy to Understand Differences between Countries: The Case of Estonia and Finland

This article is an econometric study of patent development, education policy and research and development (R&D) expenditure policy, the aim of which is to investigate the key similarities and differences when it comes to the issue of competitiveness between Estonia and Finland, particularly in the utilisation of foreign patents, as well as ranking them on the international arena. The authors of the article intend to study how it is possible to increase the technological competitiveness of small European Union Member States and the special effect of investments in research and development (R&D) and education on the competitiveness ranking of Estonia and Finland. The authors attempt to explore how Estonia can advance by learning from the model of innovative growth adopted by Finland.