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The Political Economy of R&D in a Global Financial Context

In: Powerful Finance and Innovation Trends in a High-Risk Economy

Author

Listed:
  • Jerry Courvisanos

    (University of Ballarat)

Abstract

Expenditure on research and development (R&D) forms the basis of incremental innovation for medium-to-large corporations in all advanced economies. Successful innovation out of R&D provides a high rate of return to the economy. This is because, although the vast majority of projects fail to materialize any tangible results, these failures contribute significantly to knowledge accumulation in the innovation process. However, the high risk and fundamental uncertainty arising out of R&D raise concerns about funding such activity. The new global financial system places this concern into a much sharper context.

Suggested Citation

  • Jerry Courvisanos, 2008. "The Political Economy of R&D in a Global Financial Context," Palgrave Macmillan Books, in: Blandine Laperche & Dimitri Uzunidis (ed.), Powerful Finance and Innovation Trends in a High-Risk Economy, chapter 6, pages 88-109, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-58409-9_7
    DOI: 10.1057/9780230584099_7
    as

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    Cited by:

    1. Falcone, Pasquale Marcello & Morone, Piergiuseppe & Sica, Edgardo, 2018. "Greening of the financial system and fuelling a sustainability transition," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 23-37.
    2. Grace Ibe-enwo & Nicholas Igbudu & Zanete Garanti & Temitope Popoola, 2019. "Assessing the Relevance of Green Banking Practice on Bank Loyalty: The Mediating Effect of Green Image and Bank Trust," Sustainability, MDPI, vol. 11(17), pages 1-16, August.

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