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Why should governments of developing countries invest in R&D and innovation?

Author
Guimón de Ros, Joséuntranslated; Agapitova, Natalia
Entity
UAM. Departamento de Estructura Económica y Economía del Desarrollo
Publisher
Academic Journals
Date
2013-03-28
Citation
10.5897/AJBM11.1163
African Journal of Business Management 7.12 (2013): 899-905
 
 
 
ISSN
1996-0816
DOI
10.5897/AJBM11.1163
Editor's Version
http://www.academicjournals.org/journal/AJBM/edition/28_March,_2013
Subjects
Absorptive capacity; Innovation; Knowledge; Market failures; R&D; Spillovers; Systemic failures; Technology; Economía
URI
http://hdl.handle.net/10486/663149
Rights
© 2013 Academic Journals

Abstract

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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  • Producción científica en acceso abierto de la UAM [14744]

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