The Role of Innovation in Development
AbstractInnovation is often seen as carried out by highly educated labour in R&D intensive companies with strong ties to leading centers of excellence in the scientific world. Seen from this angle innovation is a typical "first world" activity. There is, however, another way to look at innovation that goes significantly beyond this high-tech picture. In this, broader perspective, innovation - the attempt to try out new or improved products, processes or ways to do things - is an aspect of most if not all economic activities. In this sense, innovation may be as relevant in the developing part of the world as elsewhere. Section two discusses the existing theoretical and empirical literature on the subject. An important conclusion is that to be able to exploit technology to their own advantage, developing countries need to develop the necessary capabilities for doing so. The third section of the paper, therefore, discusses ways to identify and measure capabilities at the national level, while section four focuses on recent attempts to survey innovation activity in firms. The final section summarizes the main lessons.
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Bibliographic InfoArticle provided by Università di Perugia in its journal Review of Economics and Institutions.
Volume (Year): 1 (2010)
Issue (Month): 2 ()
innovation; capability; development; developing countries;
Find related papers by JEL classification:
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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