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EU Innovation Policy: Analysis and Critique

Author

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  • Paul J.J. Welfens

    (Europäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW))

Abstract

We analyze selected features of the innovation dynamics and innovation policy in the EU and the US. From a theoretical and empirical perspective specialization in high technology contributes to economic growth. The comparative analysis on Europe and the US suggests that the United States has achieved a considerable technological lead in the 1990s. As regards innovation dynamics in EU-25 it is shown that eastern European accession countries are far behind the EU-15 so that imitation processes and diffusion of innovations, respectively, play a crucial role in accession countries; in some of these countries there has been a considerable acceleration of Schumpeterian dynamics in the 1990s. The expansion of information and communication technology implies a greater significance of digital network effects - a mechanism that should be taken into account by policy makers. As regards policy perspectives we suggest some refinements in EU innovation policy which should be more focussed on market-relevant progress on the one hand and core fields of basic knowledge on the other hand while putting due emphasis on manageable projects.

Suggested Citation

  • Paul J.J. Welfens, 2004. "EU Innovation Policy: Analysis and Critique," EIIW Discussion paper disbei120, Universitätsbibliothek Wuppertal, University Library.
    • Handle: RePEc:bwu:eiiwdp:disbei120
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Integration; R&D; Innovation Policy; Specialization; Network Effects;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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