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Mission-oriented innovation policy and dynamic capabilities in the public sector

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  • Rainer Kattel
  • Mariana Mazzucato

Abstract

This article contextualizes the reemergence of mission-oriented innovation policies in the broader search for a new type of innovation policies—and the appropriate organizational forms—that can tackle “grand societal challenges,” and focuses on our knowledge gaps in designing and implementing such innovation policies. We identify the concept and practice of dynamic capabilities in the public sector as perhaps the key missing element in the search for the new generation of innovation policies. We offer a brief conceptual and historical overview of what constitutes mission-oriented policies, focusing on two key elements of missions: coordinated public investments and market-shaping policies to “crowd in” private and third sector experimentation and innovation. The article concludes by briefly discussing the central public sector dynamic capabilities for 21st-century missions.

Suggested Citation

  • Rainer Kattel & Mariana Mazzucato, 2018. "Mission-oriented innovation policy and dynamic capabilities in the public sector," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 27(5), pages 787-801.
    • Handle: RePEc:oup:indcch:v:27:y:2018:i:5:p:787-801.
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    File URL: http://hdl.handle.net/10.1093/icc/dty032
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    More about this item

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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