Innovation, Democracy and Efficiency: Exploring the Innovation Puzzle within the European Union’s Regional Development Policies (1st ed. 2016) (Palgrave Advances in Regional and Urban Economics)

Synopsis

Endogenous growth theory has significantly impacted most of the developing and developed countries, shifting priorities of industrial policies towards innovation. In line with this trend, the European Union significantly increased its budgetary allocation for R&D. However, statistical data show a weak correlation between R&D expenditure and the acceleration of economic growth. Regional innovation policies display divergent returns according to different institutional conditions and policy choices.Grillo and Nanetti attempt to understand the reasons that lie behind differences in performance. Their results show that better performing innovation strategies require the following factors: clear choices of locally congruent smart specialization; strong capacity of public investment to stimulate additional private investment; clear distribution of responsibilities for decision-making and independence of policy implementation from political interference; and problem solving partnerships amongst innovators, universities, and governments that pre-exist the programmes. These factors point to a relationship between democracy (defined as openness of policy-making) and innovation (as technology-enabled growth) which is explored throughout this book.

Copyright:

2016

Book Details

Book Quality:

Publisher Quality

ISBN-13:

9781137449665

Related ISBNs:

9781137449658

Publisher:

Palgrave Macmillan UK, London

Date of Addition:

03/15/21

Copyrighted By:

Francesco Grillo, Raffaella Y. Nanetti

Adult content:

No

Language:

English

Has Image Descriptions:

No

Categories:

Nonfiction, Business and Finance, Social Studies, Law, Legal Issues and Ethics, Politics and Government

Submitted By:

Bookshare Staff

Usage Restrictions:

This is a copyrighted book.