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Innovation Policies and Economic Growth: the Case of Brazil, India and China

Author

Listed:
  • Ricardo Mendes

    (University of Coimbra, Faculty of Economics)

  • António Portugal Duarte

    () (Faculty of Economics, University of Coimbra and GEMF – Grupo de Estudos Monetários e Financeiros, Faculty of Economics, University of Coimbra)

  • Adelaide Duarte

    (Faculty of Economics, University of Coimbra and GEMF - Grupo de Estudos Monetários e Financeiros, Faculty of Economics, University of Coimbra)

  • Marta Simões

    (aculty of Economics, University of Coimbra and GEMF - Grupo de Estudos Monetários e Financeiros, Faculty of Economics, University of Coimbra)

Abstract

The high economic growth rates that emerging economies experienced over the last two decades have been studied with great interest by numerous economists. Even during a time of global crisis such as the present one, countries like Brazil, India and China (BICs) continue to achieve high growth rates. Up to the present, the growth strategies adopted by these countries seem to have been effective, with some of them growing at around two digits annual growth rates and showing an enormous impact on international trade. But can the strategies and models adopted so far sustain economic growth in these countries? Is it possible that these countries will face a growth slowdown that will affect not only the welfare of their populations but also many other countries in the world in a time of globalization, unless they move to a different growth strategy? This work analysis of a set of “symptoms” that point to the unsustainability of the current growth models of these economies and, in light of the predictions of endogenous growth models, suggests that technological innovation is the only way to sustain growth in the long run. We also analyse to some extent the degree of awareness of the BICs to the importance of innovation policies by studying a broad set of Science and Technology (S&T) indicators for the BICs, trying in this way to determine their technological profile and whether they are using the international crisis scenario as an opportunity to implement potentially important structural changes.

Suggested Citation

  • Ricardo Mendes & António Portugal Duarte & Adelaide Duarte & Marta Simões, 2012. "Innovation Policies and Economic Growth: the Case of Brazil, India and China," Book Chapters, Institute of Economic Sciences.
  • Handle: RePEc:ibg:chaptr:euinpro-4
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    References listed on IDEAS

    as
    1. Charles I. Jones, 2002. "Sources of U.S. Economic Growth in a World of Ideas," American Economic Review, American Economic Association, vol. 92(1), pages 220-239, March.
    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    3. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    4. Samuel de Abreu Pessoa & Fernando de Holanda Barbosa Filho & Fernando A. Veloso, 2008. "Evolução da Produtividade Total dos Fatores na Economia Brasileira com Ênfase no Capital Humano -1992-2006," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211433140, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    5. Cheung Kui-yin & Lin, Ping, 2004. "Spillover effects of FDI on innovation in China: Evidence from the provincial data," China Economic Review, Elsevier, vol. 15(1), pages 25-44.
    6. Barry Bosworth & Susan M. Collins, 2008. "Accounting for Growth: Comparing China and India," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 45-66, Winter.
    7. 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)

    More about this item

    Keywords

    Innovation; economic growth; research and development; science and technology;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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