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Innovation Policy for Knowledge Production and R&D: the Investment Portfolio Approach

Author

Listed:
  • Borrás , Susana

    (Department of Business and Politics, Copenhagen Business School, and CIRCLE, Lund University)

  • Edquist , Charles

    (CIRCLE, Lund University)

Abstract

Who produces scientific and technical knowledge these days? What type of knowledge is being produced and for what purposes? Why are firms and governments funding research and development? This chapter studies the role of knowledge production (especially R&D activities) in the innovation process from an innovation system perspective. It examines how governments and public agencies in different countries and at different times have actually approached the issue of building, maintaining and using knowledge production in their innovation systems. It also examines the critical and most important issues at stake from the point of view of innovation policy, looking in particular at the unresolved tensions and systemic unbalances related to knowledge production and last but not least, it elaborates a set of overall criteria for the selection and design of relevant policy instruments and addresses those tensions and unbalances. This chapter suggests that innovation policy develops a portfolio approach to the public investment in R&D and knowledge production.

Suggested Citation

  • Borrás , Susana & Edquist , Charles, 2014. "Innovation Policy for Knowledge Production and R&D: the Investment Portfolio Approach," Papers in Innovation Studies 2014/21, Lund University, CIRCLE - Centre for Innovation Research.
    • Handle: RePEc:hhs:lucirc:2014_021
    as

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    File URL: http://wp.circle.lu.se/upload/CIRCLE/workingpapers/201421_Borras_Edquist.pdf
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    References listed on IDEAS

    as
    1. Hall, Bronwyn H. & Mairesse, Jacques & Mohnen, Pierre, 2010. "Measuring the Returns to R&D," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 1033-1082, Elsevier.
    2. Bjørn Asheim & Lars Coenen, 2006. "Contextualising Regional Innovation Systems in a Globalising Learning Economy: On Knowledge Bases and Institutional Frameworks," The Journal of Technology Transfer, Springer, vol. 31(1), pages 163-173, January.
    3. Bronwyn H. Hall & Nathan Rosenberg (ed.), 2010. "Handbook of the Economics of Innovation," Handbook of the Economics of Innovation, Elsevier, edition 1, volume 1, number 1.
    4. Scherer, F. M. & Harhoff, Dietmar, 2000. "Technology policy for a world of skew-distributed outcomes," Research Policy, Elsevier, vol. 29(4-5), pages 559-566, April.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Edquist, Charles, 2016. "The Swedish National Innovation Council: Innovation policy governance to replace linearity with holism," Papers in Innovation Studies 2016/24, Lund University, CIRCLE - Centre for Innovation Research.

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    More about this item

    Keywords

    Innovation system; innovation policy; knowledge production; R&D; universities; innovation policy instruments;
    All these keywords.

    JEL classification:

    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • M38 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Government Policy and Regulation
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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