IDEAS home Printed from https://ideas.repec.org/a/spr/revepe/v3y2022i2d10.1007_s43253-022-00064-9.html
   My bibliography  Save this article

Exploration of trending concepts in innovation policy

Author

Listed:
  • Verónica Robert

    (Universidad Nacional de San Martín, Escuela Interdisciplinaria de Altos Estudios Sociales)

  • Gabriel Yoguel

    (Universidad Nacional de General Sarmiento)

Abstract

In this paper, we identify five concepts of innovation policy which, although not new, have recently emerged in specialized literature as main organizers of interventions in the science, technology, and innovation fields. They are (i) smart specialization policies, (ii) policy mix, (iii) transformative innovation policy, (iv) mission-oriented policy, and (v) holistic innovation policy. These concepts establish criteria and intervention modalities. In most cases, their conceptual and theoretical basis is implicit or eclectic. In this paper, we analyze the five concepts through the lens of a three-dimensional analytical matrix: (i) the policy rationale, (ii) the policy-making process, and (iii) the policy style. This analysis allows us to elucidate the position of each concept in a theoretical framings map.

Suggested Citation

  • Verónica Robert & Gabriel Yoguel, 2022. "Exploration of trending concepts in innovation policy," Review of Evolutionary Political Economy, Springer, vol. 3(2), pages 259-292, July.
  • Handle: RePEc:spr:revepe:v:3:y:2022:i:2:d:10.1007_s43253-022-00064-9
    DOI: 10.1007/s43253-022-00064-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s43253-022-00064-9
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s43253-022-00064-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dominique Foray, 2016. "On the policy space of smart specialization strategies," European Planning Studies, Taylor & Francis Journals, vol. 24(8), pages 1428-1437, August.
    2. Lars Coenen & Jerker Moodysson & Hanna Martin, 2015. "Path Renewal in Old Industrial Regions: Possibilities and Limitations for Regional Innovation Policy," Regional Studies, Taylor & Francis Journals, vol. 49(5), pages 850-865, May.
    3. Fagerberg, Jan, 2018. "Mobilizing innovation for sustainability transitions: A comment on transformative innovation policy," Research Policy, Elsevier, vol. 47(9), pages 1568-1576.
    4. Mariana Mazzucato, 2018. "Mission-oriented innovation policies: challenges and opportunities," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 27(5), pages 803-815.
    5. Nicholas Bloom & John Van Reenen & Heidi Williams, 2019. "A toolkit of policies to promote innovation," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    6. Kern, Florian & Rogge, Karoline S. & Howlett, Michael, 2019. "Policy mixes for sustainability transitions: New approaches and insights through bridging innovation and policy studies," Research Policy, Elsevier, vol. 48(10).
    7. Weber, K. Matthias & Rohracher, Harald, 2012. "Legitimizing research, technology and innovation policies for transformative change," Research Policy, Elsevier, vol. 41(6), pages 1037-1047.
    8. Jakob Edler & Jan Fagerberg, 2017. "Innovation policy: what, why, and how," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(1), pages 2-23.
    9. Cantner, Uwe & Pyka, Andreas, 2001. "Classifying technology policy from an evolutionary perspective," Research Policy, Elsevier, vol. 30(5), pages 759-775, May.
    10. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626, National Bureau of Economic Research, Inc.
    11. Dosi, Giovanni & Fagiolo, Giorgio & Roventini, Andrea, 2010. "Schumpeter meeting Keynes: A policy-friendly model of endogenous growth and business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1748-1767, September.
    12. Mario Cimoli & Giovanni Dosi & Xiaodan Yu, 2020. "Industrial Policies, Patterns of Learning and Development: an Evolutionary Perspective," LEM Papers Series 2020/08, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    13. Borrás, Susana & Edquist, Charles, 2013. "The choice of innovation policy instruments," Technological Forecasting and Social Change, Elsevier, vol. 80(8), pages 1513-1522.
    14. Matteo Deleidi & Mariana Mazzucato, 2019. "Putting Austerity to Bed: Technical Progress, Aggregate Demand and the Supermultiplier," Review of Political Economy, Taylor & Francis Journals, vol. 31(3), pages 315-335, July.
    15. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-970, December.
    16. Mariana Mazzucato, 2016. "From market fixing to market-creating: a new framework for innovation policy," Industry and Innovation, Taylor & Francis Journals, vol. 23(2), pages 140-156, February.
    17. James Stanley Metcalfe, 2005. "Systems Failure and the Case for Innovation Policy," Springer Books, in: Patrick Llerena & Mireille Matt (ed.), Innovation Policy in a Knowledge-Based Economy, chapter 2, pages 47-74, Springer.
    18. Mytelka, Lynn K. & Smith, Keith, 2002. "Policy learning and innovation theory: an interactive and co-evolving process," Research Policy, Elsevier, vol. 31(8-9), pages 1467-1479, December.
    19. Ron Boschma & Carlo Gianelle, 2014. "Regional Branching and Smart Specialisation Policy," JRC Research Reports JRC88242, Joint Research Centre.
    20. Bruno Crepon & Emmanuel Duguet & Jacques Mairesse, 1998. "Research, Innovation And Productivity: An Econometric Analysis At The Firm Level," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 7(2), pages 115-158.
    21. Boschma, Ron & Capone, Gianluca, 2015. "Institutions and diversification: Related versus unrelated diversification in a varieties of capitalism framework," Research Policy, Elsevier, vol. 44(10), pages 1902-1914.
    22. Schmidt, Tobias S. & Sewerin, Sebastian, 2019. "Measuring the temporal dynamics of policy mixes – An empirical analysis of renewable energy policy mixes’ balance and design features in nine countries," Research Policy, Elsevier, vol. 48(10).
    23. Cimoli, Mario & Dosi, Giovanni & Stiglitz, Joseph E. (ed.), 2009. "Industrial Policy and Development: The Political Economy of Capabilities Accumulation," OUP Catalogue, Oxford University Press, number 9780199235278.
    24. 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.
    25. Verónica Robert & Gabriel Yoguel & Octavio Lerena, 2017. "The ontology of complexity and the neo-Schumpeterian evolutionary theory of economic change," Journal of Evolutionary Economics, Springer, vol. 27(4), pages 761-793, September.
    26. Magro, Edurne & Wilson, James R., 2019. "Policy-mix evaluation: Governance challenges from new place-based innovation policies," Research Policy, Elsevier, vol. 48(10).
    27. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67(3), pages 297-297.
    28. Giovanni Dosi & Keith Pavitt & Luc Soete, 1990. "The Economics of Technical Change and International Trade," LEM Book Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy, number dosietal-1990, March.
    29. Rogge, Karoline S. & Pfluger, Benjamin & Geels, Frank W., 2020. "Transformative policy mixes in socio-technical scenarios: The case of the low-carbon transition of the German electricity system (2010–2050)," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    30. Soete, Luc, 1985. "International diffusion of technology, industrial development and technological leapfrogging," World Development, Elsevier, vol. 13(3), pages 409-422, March.
    31. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(6), pages 873-892, November.
    32. Magro, Edurne & Wilson, James R., 2013. "Complex innovation policy systems: Towards an evaluation mix," Research Policy, Elsevier, vol. 42(9), pages 1647-1656.
    33. Daron Acemoglu & Francisco A. Gallego & James A. Robinson, 2014. "Institutions, Human Capital, and Development ," Annual Review of Economics, Annual Reviews, vol. 6(1), pages 875-912, August.
    34. Gerald Silverberg & Giovanni Dosi & Luigi Orsenigo, 2000. "Innovation, Diversity and Diffusion: A Self-Organisation Model," Chapters, in: Innovation, Organization and Economic Dynamics, chapter 14, pages 410-432, Edward Elgar Publishing.
    35. Jan G. Lambooy & Ron A. Boschma, 2001. "Evolutionary economics and regional policy," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 35(1), pages 113-131.
    36. Smita Srinivas, 2020. "Institutional variety and the future of economics," Review of Evolutionary Political Economy, Springer, vol. 1(1), pages 13-35, May.
    37. John Foster & Stan Metcalfe, 2009. "Evolution and economic complexity: an overview," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 18(7), pages 607-610.
    38. Foray, D. & Mowery, D.C. & Nelson, R.R., 2012. "Public R&D and social challenges: What lessons from mission R&D programs?," Research Policy, Elsevier, vol. 41(10), pages 1697-1702.
    39. Keun Lee, 2013. "Capability Failure and Industrial Policy to Move beyond the Middle-Income Trap: From Trade-based to Technology-based Specialization," International Economic Association Series, in: Joseph E. Stiglitz & Justin Yifu Lin (ed.), The Industrial Policy Revolution I, chapter 4, pages 244-272, Palgrave Macmillan.
    40. Diercks, Gijs & Larsen, Henrik & Steward, Fred, 2019. "Transformative innovation policy: Addressing variety in an emerging policy paradigm," Research Policy, Elsevier, vol. 48(4), pages 880-894.
    41. Edquist , Charles, 2014. "Striving Towards a Holistic Innovation Policy in European Countries - But Linearity Still Prevails!," Papers in Innovation Studies 2014/22, Lund University, CIRCLE - Centre for Innovation Research.
    42. Lindberg, Marie Byskov & Markard, Jochen & Andersen, Allan Dahl, 2019. "Policies, actors and sustainability transition pathways: A study of the EU’s energy policy mix," Research Policy, Elsevier, vol. 48(10).
    43. Schot, Johan & Steinmueller, W. Edward, 2018. "Three frames for innovation policy: R&D, systems of innovation and transformative change," Research Policy, Elsevier, vol. 47(9), pages 1554-1567.
    44. Metcalfe, J S, 1994. "Evolutionary Economics and Technology Policy," Economic Journal, Royal Economic Society, vol. 104(425), pages 931-944, July.
    45. Steinmueller, W. Edward, 2010. "Economics of Technology Policy," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 1181-1218, Elsevier.
    46. Steven N. Durlauf, 2012. "Complexity, economics, and public policy," Politics, Philosophy & Economics, , vol. 11(1), pages 45-75, February.
    47. Florian Kern & Michael Howlett, 2009. "Implementing transition management as policy reforms: a case study of the Dutch energy sector," Policy Sciences, Springer;Society of Policy Sciences, vol. 42(4), pages 391-408, November.
    48. 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.
    49. Pier Saviotti & Koen Frenken, 2008. "Export variety and the economic performance of countries," Journal of Evolutionary Economics, Springer, vol. 18(2), pages 201-218, April.
    50. Metcalfe, J S, 1995. "Technology Systems and Technology Policy in an Evolutionary Framework," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 19(1), pages 25-46, February.
    51. Grillitsch, Markus & Hansen, Teis & Coenen, Lars & Miörner, Johan & Moodysson, Jerker, 2019. "Innovation policy for system-wide transformation: The case of strategic innovation programmes (SIPs) in Sweden," Research Policy, Elsevier, vol. 48(4), pages 1048-1061.
    52. Andreoni, Antonio & Chang, Ha-Joon, 2019. "The political economy of industrial policy: Structural interdependencies, policy alignment and conflict management," Structural Change and Economic Dynamics, Elsevier, vol. 48(C), pages 136-150.
    53. Dominique Foray, 2019. "On sector-non-neutral innovation policy: towards new design principles," Journal of Evolutionary Economics, Springer, vol. 29(5), pages 1379-1397, November.
    54. Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bauer, Johannes M., 2022. "Toward new guardrails for the information society," Telecommunications Policy, Elsevier, vol. 46(5).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dosi, Giovanni & Lamperti, Francesco & Mazzucato, Mariana & Napoletano, Mauro & Roventini, Andrea, 2023. "Mission-oriented policies and the “Entrepreneurial State” at work: An agent-based exploration," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    2. repec:hal:spmain:info:hdl:2441/401t6job098n79ch91o9giov9d is not listed on IDEAS
    3. Wiarda, Martijn & Sobota, Vladimir C.M. & Janssen, Matthijs J. & van de Kaa, Geerten & Yaghmaei, Emad & Doorn, Neelke, 2023. "Public participation in mission-oriented innovation projects," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    4. Maria Rabadjieva & Judith Terstriep, 2020. "Ambition Meets Reality: Mission-Oriented Innovation Policy as a Driver for Participative Governance," Sustainability, MDPI, vol. 13(1), pages 1-23, December.
    5. Laatsit, Mart & Grillitsch, Markus & Fünfschilling, Lea, 2022. "Great expectations: the promises and limits of innovation policy in addressing societal challenges," Papers in Innovation Studies 2022/9, Lund University, CIRCLE - Centre for Innovation Research.
    6. Kern, Florian & Rogge, Karoline S. & Howlett, Michael, 2019. "Policy mixes for sustainability transitions: New approaches and insights through bridging innovation and policy studies," Research Policy, Elsevier, vol. 48(10).
    7. Grashof, Nils, 2021. "Putting the watering can away –Towards a targeted (problem-oriented) cluster policy framework," Research Policy, Elsevier, vol. 50(9).
    8. Diercks, Gijs & Larsen, Henrik & Steward, Fred, 2019. "Transformative innovation policy: Addressing variety in an emerging policy paradigm," Research Policy, Elsevier, vol. 48(4), pages 880-894.
    9. Švarc, Jadranka & Dabić, Marina, 2021. "Transformative innovation policy or how to escape peripheral policy paradox in European research peripheral countries," Technology in Society, Elsevier, vol. 67(C).
    10. Joanna Stryjek, 2021. "Counteracting the COVID-19 Crisis with Innovation Policy Tools: A Case Study of the EU’s Supranational Innovation Policy," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 450-468.
    11. Grashof, Nils, 2020. "Putting the watering can away Towards a targeted (problem-oriented) cluster policy framework," Papers in Innovation Studies 2020/4, Lund University, CIRCLE - Centre for Innovation Research.
    12. Dosi, Giovanni & Nelson, Richard R., 2010. "Technical Change and Industrial Dynamics as Evolutionary Processes," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 51-127, Elsevier.
    13. Dieter F Kogler & Emil Evenhuis & Elisa Giuliani & Ron Martin & Elvira Uyarra & Ron Boschma, 2023. "Re-imagining evolutionary economic geography," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 16(3), pages 373-390.
    14. Laplane, Andrea & Mazzucato, Mariana, 2020. "Socializing the risks and rewards of public investments: Economic, policy, and legal issues," Research Policy, Elsevier, vol. 49(S).
    15. Dierk Bauknecht & Allan Dahl Andersen & Karoline Dunne, 2020. "Challenges for electricity network governance in Energy transitions: Insights from Norway," Working Papers on Innovation Studies 20200115, Centre for Technology, Innovation and Culture, University of Oslo.
    16. Ioanna Kastelli & Lukasz Mamica & Keun Lee, 2023. "New perspectives and issues in industrial policy for sustainable development: from developmental and entrepreneurial to environmental state," Review of Evolutionary Political Economy, Springer, vol. 4(1), pages 1-25, April.
    17. Kivimaa, Paula & Rogge, Karoline S., 2022. "Interplay of policy experimentation and institutional change in sustainability transitions: The case of mobility as a service in Finland," Research Policy, Elsevier, vol. 51(1).
    18. Haddad, Carolina R. & Bergek, Anna, 2023. "Towards an integrated framework for evaluating transformative innovation policy," Research Policy, Elsevier, vol. 52(2).
    19. Schot, Johan & Steinmueller, W. Edward, 2018. "Three frames for innovation policy: R&D, systems of innovation and transformative change," Research Policy, Elsevier, vol. 47(9), pages 1554-1567.
    20. Jan Fagerberg & Håkon Endresen Normann, 2022. "Innovation policy, regulation and the transition to net zero," Working Papers on Innovation Studies 20220531, Centre for Technology, Innovation and Culture, University of Oslo.
    21. Edler, Jakob & Köhler, Jonathan Hugh & Wydra, Sven & Salas-Gironés, Edgar & Schiller, Katharina & Braun, Annette, 2021. "Dimensions of systems and transformations: Towards an integrated framework for system transformations," Working Papers "Sustainability and Innovation" S03/2021, Fraunhofer Institute for Systems and Innovation Research (ISI).

    More about this item

    Keywords

    Science technology and innovation policy; Policy rationale; Policy process; Conventions;
    All these keywords.

    JEL classification:

    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • H59 - Public Economics - - National Government Expenditures and Related Policies - - - Other
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:revepe:v:3:y:2022:i:2:d:10.1007_s43253-022-00064-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.