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Innovation systems and the competitive process in developing economies

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  • Metcalfe, Stan
  • Ramlogan, Ronnie

Abstract

There is a very real sense that in the aftermath of the limited success of the development paradigm (recipe) of the Washington consensus based on the pillars of liberalization, privatization and deregulation, new and challenging thinking and analysis need to be brought to bear on the problems faced by developing countries. While sound macro policies and low inflation are undoubtedly important precursors to self sustainable growth, they are not in themselves sufficient to deliver development. We argue that if development is a matter of self transformation arising from within an economy, then innovation must play a central role in the process and so to must the capacity for an economy to develop, integrate and adapt to novelty. This is at the core of the concept of self sustaining development and indeed why development is an emergent phenomenon. Thus the key questions for policy makers are: How can a transformation of innovation performance be achieved in a competitive international economy? What are the appropriate policy instruments? What role is there for universities? What stimuli can be given to entrepreneurial action? We explore these in terms of a critical evaluation of the idea of innovation systems and of the nature of innovation policy appropriate to innovation based development.

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Bibliographic Info

Article provided by Elsevier in its journal The Quarterly Review of Economics and Finance.

Volume (Year): 48 (2008)
Issue (Month): 2 (May)
Pages: 433-446

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Handle: RePEc:eee:quaeco:v:48:y:2008:i:2:p:433-446

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Web page: http://www.elsevier.com/locate/inca/620167

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  1. Carlsson, Bo & Jacobsson, Staffan & Holmen, Magnus & Rickne, Annika, 2002. "Innovation systems: analytical and methodological issues," Research Policy, Elsevier, vol. 31(2), pages 233-245, February.
  2. Cristiano Antonelli & Pier Paolo Patrucco & Francesco Quatraro, 2008. "The governance of localized knowledge externalities," International Review of Applied Economics, Taylor & Francis Journals, vol. 22(4), pages 479-498.
  3. Richard R. Nelson, 2003. "The Market Economy, and the Scientific Commons," LEM Papers Series 2003/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  4. Alcorta, Ludovico & Peres, Wilson, 1998. "Innovation systems and technological specialization in Latin America and the Caribbean," Research Policy, Elsevier, vol. 26(7-8), pages 857-881, April.
  5. Lynn Mytelka, 2000. "Local Systems Of Innovation In A Globalized World Economy," Industry and Innovation, Taylor & Francis Journals, vol. 7(1), pages 15-32.
  6. Dieter Ernst, 2002. "Global production networks and the changing geography of innovation systems. Implications for developing countries," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(6), pages 497-523.
  7. Fagerberg, Jan, 1994. "Technology and International Differences in Growth Rates," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1147-75, September.
  8. Metcalfe, J.S. & Ramlogan, R., 2005. "Competition and the regulation of economic development," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(2-3), pages 215-235, May.
  9. J. Metcalfe, 2004. "The entrepreneur and the style of modern economics," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 157-175, 06.
  10. Freeman, Chris, 1995. "The 'National System of Innovation' in Historical Perspective," Cambridge Journal of Economics, Oxford University Press, vol. 19(1), pages 5-24, February.
  11. Rosenberg, Nathan, 1990. "Why do firms do basic research (with their own money)?," Research Policy, Elsevier, vol. 19(2), pages 165-174, April.
  12. Antonelli, Cristiano, 2001. "The Microeconomics of Technological Systems," OUP Catalogue, Oxford University Press, number 9780199245536.
  13. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-96, September.
  14. Malerba, Franco, 2002. "Sectoral systems of innovation and production," Research Policy, Elsevier, vol. 31(2), pages 247-264, February.
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Cited by:
  1. Mark Dodgson & Alan Hughes & John Foster & J.S. Metcalfe, 2010. "Systems thinking, market failure, and the development of innovation policy- The case of Australia," Discussion Papers Series 403, School of Economics, University of Queensland, Australia.
  2. Nathalie Lazaric & Valerie Merindol & Sylvie Rochhia, 2011. "Changes in the French Defence Innovation System: New Roles and Capabilities for the Government Agency for Defence," Industry and Innovation, Taylor & Francis Journals, vol. 18(5), pages 509-530.
  3. Lenihan, Helena, 2011. "Enterprise policy evaluation: Is there a 'new' way of doing it?," Evaluation and Program Planning, Elsevier, vol. 34(4), pages 323-332, November.
  4. Coenen, Lars & Benneworth, Paul & Truffer, Bernhard, 2012. "Toward a spatial perspective on sustainability transitions," Research Policy, Elsevier, vol. 41(6), pages 968-979.
  5. Ponomariov, Branco & Toivanen, Hannes, 2014. "Knowledge flows and bases in emerging economy innovation systems: Brazilian research 2005–2009," Research Policy, Elsevier, vol. 43(3), pages 588-596.
  6. Bleda, Mercedes & del Río, Pablo, 2013. "The market failure and the systemic failure rationales in technological innovation systems," Research Policy, Elsevier, vol. 42(5), pages 1039-1052.
  7. Engel, Nora, 2008. "Drivers and Barriers of Innovation Dynamics in Healthcare - Towards a framework for analyzing innovation in Tuberculosis control in India," MERIT Working Papers 077, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  8. Chataway, Joanna & Hanlin, Rebecca & Mugwagwa, Julius & Muraguri, Lois, 2010. "Global health social technologies: Reflections on evolving theories and landscapes," Research Policy, Elsevier, vol. 39(10), pages 1277-1288, December.

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