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Innovation Systems and Innovation Ecologies: Innovation Policy and Restless Capitalism

Author

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  • Stan Metcalfe
  • Dimitri Gagliardi
  • Nicola De Liso
  • Ronnie Ramlogan

Abstract

Our purpose in this paper is to provide a different perspective on the by now widely discussed idea of innovation systems. This perspective is designed to cohere with the problems faced by innovation policy makers as they seek to pursue the challenge of creating wealth from knowledge and to reflect the salient aspects of a modern capitalist economy. Two main themes, are at the centre of our approach, the nature of the connection between wealth and knowledge in capitalism and, secondly, the nature of innovation policy making. A systems perspective allows a distinction to be made between ‘innovation ecologies’ on which much of our discussion now depends. Included in innovation ecologies are the primary organisations such as universities and firms that generate and store knowledge as well as those intermediary organisations that serve as brokers between the primary agencies. Innovation systems are parts of the ecology that are connected and focused upon the solution of particular innovation problems. They are constructed for this purpose and depend upon various mechanisms to ensure the necessary connectivity and flows of information between the constituent members. The general thrust of this paper is to propose that an innovation systems policy is the proper domain of attempts to enhance the rate of innovation. We argue in terms of a double policy domain, on the one hand, concerned with the availability of the components of innovation systems and, on the other hand, with the potential for their self assembly into localized innovation systems that are focused on emerging problem sequences. The evolutionary economic approach to innovative competition, embedded in co evolving instituted frames of market and non-market arrangements provides the necessary understanding that innovation policy makers require to deal with restless capitalism and the ignorance economy.

Suggested Citation

  • Stan Metcalfe & Dimitri Gagliardi & Nicola De Liso & Ronnie Ramlogan, 2012. "Innovation Systems and Innovation Ecologies: Innovation Policy and Restless Capitalism," Openloc Working Papers 1203, Public policies and local development.
  • Handle: RePEc:trn:utwpol:1203
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    References listed on IDEAS

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    1. Howells, Jeremy, 2006. "Intermediation and the role of intermediaries in innovation," Research Policy, Elsevier, vol. 35(5), pages 715-728, June.
    2. Cristiano Antonelli & Pier Paolo Patrucco & Francesco Quatraro, 2008. "The governance of localized knowledge externalities," International Review of Applied Economics, Taylor & Francis Journals, vol. 22(4), pages 479-498.
    3. Brian J. Loasby, 2000. "Market institutions and economic evolution," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 297-309.
    4. Whitley, Richard, 2000. "Divergent Capitalisms: The Social Structuring and Change of Business Systems," OUP Catalogue, Oxford University Press, number 9780199240425.
    5. Giovanni Dosi & Patrick Llerena & Mauro Sylos Labini, 2005. "Science-Technology-Industry Links and the ”European Paradox”: Some Notes on the Dynamics of Scientific and Technological Research in Europe," LEM Papers Series 2005/02, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    6. Kaufmann, Alexander & Todtling, Franz, 2001. "Science-industry interaction in the process of innovation: the importance of boundary-crossing between systems," Research Policy, Elsevier, pages 791-804.
    7. Jeremy Howells & Ronnie Ramlogan & Shu-Li Cheng, 2012. "Innovation and university collaboration: paradox and complexity within the knowledge economy," Cambridge Journal of Economics, Oxford University Press, vol. 36(3), pages 703-721.
    8. J. Metcalfe, 2004. "The entrepreneur and the style of modern economics," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 157-175, June.
    9. Mina, A. & Ramlogan, R. & Tampubolon, G. & Metcalfe, J.S., 2007. "Mapping evolutionary trajectories: Applications to the growth and transformation of medical knowledge," Research Policy, Elsevier, vol. 36(5), pages 789-806, June.
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    More about this item

    Keywords

    Innovation systems; Innovation policy;

    JEL classification:

    • 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

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