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Innovation policy in a global economy

Author

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  • Jason Potts

Abstract

Purpose - The purpose of this paper is to examine how national innovation policies strategically interact to form emergent de facto global entrepreneurship and innovation policies. Design/methodology/approach - Reviews the innovation economics theory and policy literature, synthesizing the existing work into three models (autarky, cooperation and competition), then adds four new models of strategic interaction (asymmetric information, duopolistic competition, competitive factor mobility and complementary assets). Findings - The different models predict very different outcomes. Therefore, it matters which model is true. Entrepreneurship and innovation policy needs to start with an improved science of strategic global interaction of national innovation policy. Research limitations/implications - Conceptual approach only, without empirical analysis, calls for empirical analysis to test the different models. Practical implications - Points to the problem of absence of global coordination in innovation policy arising from strategic interactions between national innovation policies. Recognizes that entrepreneurship public policy is caught in this strategic game, and that there are missing global institutions here. Social implications - Improved innovation policy should enable more effective entrepreneurial environments. Originality/value - Proposes seven models for understanding global strategic interaction of innovation policy, out of which four are new. These new ones are highly relevant to entrepreneurship policy.

Suggested Citation

  • Jason Potts, 2016. "Innovation policy in a global economy," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 5(3), pages 308-324, November.
    • Handle: RePEc:eme:jepppp:jepp-02-2016-0003
    DOI: 10.1108/JEPP-02-2016-0003
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    Citations

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    Cited by:

    1. Mikayla Novak, 2019. "Crypto-friendliness: understanding blockchain public policy," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 9(2), pages 165-184, September.
    2. Somnuk Aujirapongpan & Yaninee Songkajorn & Supit Ritkaew & Sirichai Deelers, 2020. "Japan's digital advance policy towards performance in multilateral ASEAN's innovation business," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(1), pages 1081-1094, September.
    3. Allen, Darcy W.E. & Berg, Chris & Markey-Towler, Brendan & Novak, Mikayla & Potts, Jason, 2020. "Blockchain and the evolution of institutional technologies: Implications for innovation policy," Research Policy, Elsevier, vol. 49(1).
    4. Proksch, Dorian & Busch-Casler, Julia & Haberstroh, Marcus Max & Pinkwart, Andreas, 2019. "National health innovation systems: Clustering the OECD countries by innovative output in healthcare using a multi indicator approach," Research Policy, Elsevier, vol. 48(1), pages 169-179.

    More about this item

    Keywords

    Global public goods; Globalization; Collective action problems; Global entrepreneurship; Strategic innovation policy; D0; D7; F02; F6; H41; L26; L1; L5; O; R1;
    All these keywords.

    JEL classification:

    • D0 - Microeconomics - - General
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F6 - International Economics - - Economic Impacts of Globalization
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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