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Innovation Financing and Public Policy Dilemmas in the Economic Community of West African States (ECOWAS)

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  • Forson, Joseph Ato

Abstract

As part of efforts to change the structure of economies in sub-Sahara Africa from agrarian dominated to a more diversified one that will add value to exports and create more job opportunities, countries in the region have intensified strategies through its regional bloc - the African Union (AU) with its eight sub-regional bodies. Such a feat is only plausible through a concerted approach targeted at achieving sustainable economic growth laden with higher output turnover. This paper therefore takes a critical look at sub-regional governments’ intent on the implementation of science, technology and innovation across countries in the ECOWAS by focusing on three policy instruments (institutional framework, financing and diffusion and interaction) and how these instruments have led to building technological capability economies. Empirical evidence gathered from secondary sources indicates among other things that sub-regional governments have invested in the establishment of public institutions to support STI. That notwithstanding existing technology-capability indicators illustrates the results are far from expectation. The paper further discusses the dilemmas sub-regional governments have had to deal with in the design and implementation of STI plans.

Suggested Citation

  • Forson, Joseph Ato, 2017. "Innovation Financing and Public Policy Dilemmas in the Economic Community of West African States (ECOWAS)," MPRA Paper 102432, University Library of Munich, Germany, revised 20 Aug 2019.
    • Handle: RePEc:pra:mprapa:102432
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • 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
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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