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Are There Laws of Innovation?

Author

Listed:
  • Lawrence J Lau

    (The Chinese University of Hong Kong, Hong Kong)

  • Yanyan Xiong

    (Zhejiang University, China)

Abstract

Beyond real GDP, innovative capacity is an important indicator of the economic strength of a nation. By studying innovative capacity and other indicators of success in innovation across the Group-of-Seven (G7) Countries, the East Asian Newly Industrialised Economies (EANIEs) and Mainland China, this book will systematically establish a positive relationship between innovation outputs and inputs of different economies. In doing so, it seeks to answer the question — are there laws of innovation? It seeks to identify the determinants of innovation at the economy-wide level, ascertain whether these determinants are similar across different economies, and find suitable metrics for comparing relative success in innovation across different economies. It concludes that innovation, rather than being a stroke of good fortune, comes from research and development activities conducted over a long period of time, and sheds light on future trends and areas for further research.

Suggested Citation

  • Lawrence J Lau & Yanyan Xiong, 2022. "Are There Laws of Innovation?," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 12692.
    • Handle: RePEc:wsi:wsbook:12692
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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/12692
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    More about this item

    Keywords

    Intellectual Property; Innovation Inputs; Innovation Outputs; Patents; Research and Development; R&D Investments; Group-of-Seven Countries; Mainland China; East Asian Newly Industrialised Economies; Innovative Capacity; Economic Strength;
    All these keywords.

    JEL classification:

    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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