The Economics Of Innovation Strategies For Growth

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The past two decades have seen a gradual but noticeable change in the economic organization of innovative activity. Most firms used to integrate research and development with activities such as production, marketing, and distribution. Today firms are forming joint ventures, research and development alliances, licensing deals, and a variety of other outsourcing arrangements with universities, technology-based start-ups, and other established firms. In many industries, a division of innovative labor is emerging, with a substantial increase in the licensing of existing and prospective technologies. In short, technology and knowledge are becoming definable and tradable commodities. Although researchers have made significant advances in understanding the determinants and consequences of innovation, until recently they have paid little attention to how innovation functions as an economic process. This book examines the nature and workings of markets for intermediate technological inputs. It looks first at how industry structure, the nature of knowledge, and intellectual property rights facilitate the development of technology markets. It then examines the impacts of these markets on firm boundaries, the division of labor within the economy, industry structure, and economic growth. Finally, it examines the implications of this framework for public policy and corporate strategy. Combining theoretical perspectives from economics and management with empirical analysis, the book also draws on historical evidence and case studies to flesh out its research results.

Provides an overview and assessment of established research on firms' strategic choices of R&D efforts and their firm-level returns, and explains the consequences for economy-wide technological change and growth.

Christine Greenhalgh explains the complex process of innovation & how it sustains the growth of firms, industries & economies, combining microeconomic & macroeconomic analysis.

This book provides a set of principles for fostering innovation in people (workers and consumers), in firms and in government, taking an in-depth look at the scope of innovation and how it is changing, as well as where and how it is occurring.

Provides an agenda for future work on activities to improve understanding of innovation strategies in the medium and short term.

Technical innovations and organizational innovations are of major importance for the competitive performance of firms and of nations and for the long term growth of the world economy. This area of economics has been subjected to an explosion of theoretical and empirical research during the last 30 years by economists in the United States and more recently their colleagues in Europe and Japan. This volume focuses attention on the most significant advances both in theoretical and empirical work published in leading journals of economics as well as in journals dealing with policies for science and technology. It covers all the major developments including evolutionary theory, strategies of firms, path dependency, diffusion of innovations and paradigm change.

Examining the issues facing smaller regions and countries, John de la Mothe explores how innovation, strategy and interdependence shape their performance, competition, and futures. Innovation and interdependence are central elements of advanced and advancing economies. In our globalized world, the production of knowledge is continually evolving. This is reflected in the design of institutions and in the results on the standards of living that are achieved and sustained. It also implies new forms of competition. Increasingly, smaller countries, regions and cities that do not fit into traditional theories of growth are becoming leaders in technology-intensive products and quick followers in innovative practices. Often heavily committed to large emerging economic markets (such as China and India) and political hegemons (such as Germany, Japan, and the United States), smaller nations, regions and cities are playing an almost unprecedented role in the shape of things to come. By examining the texture of the new economy, paths to constructing advantage, and aspects of the cultures that lead to the new economy, this book provides a valuable and essential guide to scholars, policymakers, strategists and students.

Research and development (R and D) leads to innovation, and innovation leads to technological change. Technological change, in turn, is the primary driver of economic growth. Public/private partnerships -- cooperative relationships among industry, government, and/or universities -- leverage the efficiency of R and D and are thus a critical aspect of a nation’s innovation system. This text is intended for upper-level undergraduate and MBA courses such as Economics and Technology, Economics of Innovation, and Economics of Science and Technology, among others. The first chapter introduces the concept of public/private research partnerships along with other concepts fundamental to an understanding of innovation and technology policy. The framework chapters (2-5) set forth an argument for the public’s role – government’s role – in innovation in general and in public/private partnership in particular. The remaining chapters (6-14) describe a number of public/private partnerships and, to the extent possible, evaluate their social impact.

Focuses on the changing roles and challenges of innovation and growth policy, and the strategies and measures that are critical in a globalizing world. This title provides guidance for innovation policy strategy formulations and design of innovation policy measures.