Since 2014
Innovation and Growth: Considerations for Public Policy
Review of Economics and Institutions
View Archive Info| Field | Value | |
| Title |
Innovation and Growth: Considerations for Public Policy
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| Creator |
Westmore, Ben; Organisation for Economic Cooperation and Development (OECD)
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| Subject |
Economics
Intangible assets; innovation; productivity growth; public policy L20; O30; O40 |
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| Description |
This paper uses panel regression techniques to assess the policy determinants of private sector innovative activity – proxied by R&D expenditure and the number of new patents – across 19 OECD countries. The relationship between innovation indicators and multifactor productivity (MFP) growth is also examined with a particular focus on the role of public policies in influencing the returns to new knowledge. The results establish an empirical link between R&D and patenting, as well as between these measures of innovation intensity and MFP growth. Innovation specific policies such as R&D tax incentives, direct government support and patent rights are found to be successful in encouraging the innovative activities associated with higher productivity growth. However, direct empirical evidence of the positive effects of these policies on productivity is less forthcoming. A pervasive theme from the analysis is the importance of coupling policies aimed at encouraging innovation or technological adoption with well designed framework policies that allow knowledge spillovers to proliferate. In particular, the settings of framework policies relating to product market regulation, openness to trade and debtor protection in bankruptcy provisions are found to be important for the diffusion of new technologies.
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| Publisher |
University of Perugia
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| Contributor |
Organisation for Economic Cooperation and Development
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| Date |
2013-12-30
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.rei.unipg.it/rei/article/view/128
10.5202/rei.v4i3.128 |
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| Source |
Review of Economics and Institutions; Vol 4, No 3 (2013); 50
2038-1379 2038-1344 |
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| Language |
eng
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| Relation |
http://www.rei.unipg.it/rei/article/view/128/124
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| Rights |
As further described in our submission agreement, in consideration for publication of the article, the authors assign to the University of Perugia all copyright in the article, subject to the expansive personal-use exceptions described below. Attribution and Usage Policies Reproduction, posting, transmission or other distribution or use of the article or any material therein, in any medium as permitted by a personal-use exemption or by written agreement of the University of Perugia, requires credit to University of Perugia as copyright holder (e.g., University of Perugia © 20011). Personal-use ExceptionsThe following uses are always permitted to the author(s) and do not require further permission from University of Perugia provided the author does not alter the format or content of the articles, including the copyright notification:Posting of the article on the author(s) personal website, provided that the website is non-commercial;Posting of the article on the internet as part of a non-commercial open access institutional repository or other non-commercial open access publication site affiliated with the author(s)'s place of employment;Posting of the article on a non-commercial course website for a course being taught by the author at the university employing the author; andStorage and back-up of the article on the author's computer(s) and digital media (e.g., diskettes, back-up servers, Zip disks, etc.), provided that the article stored on these computers and media is not readily accessible by persons other than the author(s).People seeking an exception, or who have questions about use, should contact The Editor at editor.rei.journal@gmail.com
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