Why should governments of developing countries invest in R&D and innovation?
Entity
UAM. Departamento de Estructura Económica y Economía del DesarrolloPublisher
Academic JournalsDate
2013-03-28Citation
10.5897/AJBM11.1163
African Journal of Business Management 7.12 (2013): 899-905
ISSN
1996-0816DOI
10.5897/AJBM11.1163Editor's Version
http://www.academicjournals.org/journal/AJBM/edition/28_March,_2013Subjects
Absorptive capacity; Innovation; Knowledge; Market failures; R&D; Spillovers; Systemic failures; Technology; EconomíaRights
© 2013 Academic JournalsAbstract
The rationales for public investment in R&D and innovation have evolved over time from an initial
emphasis on market failures amongst neoclassical economists towards a broader view based on a
systemic characterization of innovation amongst evolutionary economists. More recently, a renewed
emphasis has been placed on the critical role of innovation to address social challenges and overcome
development traps. The purpose of this article is to summarize the different rationales for public
investments in R&D and innovation in developing countries, with the aim of providing clear arguments
to better advocate for the continuation and expansion of such investments in front of an audience that
has to prioritize among multiple competing development agendas in the context of financing
constraints, including budget allocators, high-level policymakers and the civil society at large
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Google Scholar:Guimón de Ros, José
-
Agapitova, Natalia
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