National Innovation Strategies in the Global Economy
Edited by Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner
12. Conclusion Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner 12.1 INTRODUCTION Globalization has changed the dynamics of economic systems, business models and technological development. It is creating exceptional opportunities for new powerhouses, such as China and India, as well as for the established economies. At the same time, the forces of globalization are posing distinctly new policy challenges and opportunities. Innovation has become imperative to meet these challenges and capitalize on these opportunities. Key innovation resources, such as research and development (R&D) investments, business operations and even human resources, have become considerably more mobile and on a global scale. As a consequence, the policy competition between nations and regions has increased in intensity and changed in nature. For policy makers, globalization is essentially a competition involving provision of the best conditions for and most eﬃcient driving forces of innovation and long-term competitiveness. The diﬀerent contributions in this volume have addressed this transformation of the policy challenges and opportunities and discussed innovation policy strategies and measures of importance to national competitiveness and prosperity in a globalizing world. The overarching message in the chapters in this book is that national competitiveness and the prosperity it engenders are not a natural given for developed nations, such as the USA and the EU countries. Rather, ambitious and eﬃcient innovation policies will be critical for their future competitiveness and economic development. The foundations of competitiveness have to be continuously regenerated and restructured. And innovation, which is the basis...
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