The Innovation Imperative

The Innovation Imperative

National Innovation Strategies in the Global Economy

Edited by Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner

As a result of globalization, strategies for investments in innovation capabilities have gained considerably in importance for businesses, research institutions and policymakers. Public policy has to provide conditions for investments in R & D and innovation that are internationally attractive and effective in stimulating innovation, economic growth and job-creation. This book focuses on the changing roles and challenges of innovation and growth policy, and the strategies and measures that are critical in a globalizing world. It provides guidance for innovation policy strategy formulations and design of innovation policy measures.

Preface

Edited by Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner

Subjects: economics and finance, economics of innovation, innovation and technology, economics of innovation, innovation policy

Extract

The changes that are affecting firms and industries, people and competencies, nations and economies as a consequence of globalization have been noted by business, academic, public institution and policy actors. Globalization is an intangible force that is impinging on almost all areas of society; however, its drivers and consequences are generally not well understood, either by the general public or in policy circles. Globalization is creating new policy challenges and opportunities for all countries of the world. Global wealth has increased, and more and more countries are being affected by globalization as a consequence of economic growth. While the expansion of trade and investment has played a major role in driving this growth, the chapters in this volume suggest that there are new challenges that need to be addressed, as well as a growing recognition of the importance of national innovation policies as a differentiator in international competition. Successful innovation policies can and do affect national conditions for work and wealth generation in fundamental ways. Innovation is essential to economic growth and job creation. Globalization both creates increasing opportunities for innovation and puts competitive pressure on a country’s innovative capacity. As a consequence, strategies aimed at investment in innovation capabilities have rapidly gained in importance. And the role and challenges for policy have changed considerably in relation to investments in research and in the mechanisms and incentives designed to ensure sustainable returns on such investments. Policy makers need to constantly renew their understanding of the key...