Innovation, Democracy and Efficiency
Exploring the Innovation Puzzle within the European Union’s Regional Development Policies
Produktform: Buch / Einband - fest (Hardcover)
Endogenous growth theory has significantly
impacted most of the developing and developed countries, shifting priorities of
industrial policies towards innovation. In line with this trend, the European
Union significantly increased its budgetary allocation for R&D. However,
statistical data show a weak correlation between R&D expenditure and the
acceleration of economic growth. Regional innovation policies display divergent
returns according to different institutional conditions and policy choices.
Grillo and Nanetti attempt to understand the
reasons that lie behind differences in performance. Their results show that
better performing innovation strategies require the following factors: clear
choices of locally congruent smart specialization; strong capacity of public investment
to stimulate additional private investment; clear distribution of
responsibilities for decision-making and independence of policy implementation
from political interference; and problem solving partnerships amongst innovators,
universities, and governments that pre-exist the programmes. These factors
point to a relationship between democracy (defined as openness of
policy-making) and innovation (as technology-enabled growth) which is explored
throughout this book.weiterlesen
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