Pathways to Growth and Economic Development
An important challenge for advanced economies, whose competitiveness is founded on the capacity to remain at the spearhead of scientific and technological research, is that of guaranteeing that their domestic economic actors produce a ‘sufficient’ amount of knowledge and that this knowledge is efficiently diffused throughout the economic system. In fact, the competitiveness of these economies can no longer depend upon the reliance on low costs of labour and raw materials. In most advanced economies, and in an increasing number of those emerging, the ability to maintain positive rates of economic growth now necessarily rests on the capacity to maintain a high rate of innovation that guarantees steady productivity growth. For some decades now, economists have been faced with the problem of understanding what the most effective and efficient ways of supporting the production of knowledge are and how its diffusion among economic actors can best feed into innovation processes.
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