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Science, Technology and Innovation for Economic Growth: Towards Linking Policy Research and Practice in 'STIG Systems'

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  • Philippe Aghion

    (Department of Economics, Harvard University)

  • Paul A. David

    ()
    (Department of Economics, Stanford University)

  • Dominique Foray

    (College of Management of Technology, Ecole Polytechnique Fédérale de Lausanne)

Abstract

This paper reflects on the relevance of “systems-theoretic” approaches to the interdependent policy issues relating to the dynamics of science, technology and innovation and their relationship to economic growth. Considering the approach that characterizes much of the current economics literature’s treatment of technology and growth policies, we pose the critical question: what kind of systems paradigm is likely to prove particularly fruitful in that particular problem-domain? Evolutionary, neo-Schumpeterian, and complex system dynamics approaches are conceptually attractive, and we examine their respective virtues and limitations. Both qualities are readily visible when one tries to connect systems-relevant research with practical policy-making in this field.

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Bibliographic Info

Paper provided by Stanford Institute for Economic Policy Research in its series Discussion Papers with number 06-039.

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Date of creation: Jul 2007
Date of revision: Oct 2008
Handle: RePEc:sip:dpaper:06-039

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Keywords: economic growth; innovation; science; technology;

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