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A Toolkit of Policies to Promote Innovation
Volume: 33, Issue: 3, Pages: 163 - 184
Published: Aug 1, 2019
Abstract
Economic theory suggests that market economies are likely to underprovide innovation because of the public good nature of knowledge. Empirical evidence from the United States and other advanced economies supports this idea. We summarize the pros and cons of different policy instruments for promoting innovation and provide a basic “toolkit” describing which policies are most effective according to our reading of the evidence. In the short run,...
Paper Details
Title
A Toolkit of Policies to Promote Innovation
Published Date
Aug 1, 2019
Volume
33
Issue
3
Pages
163 - 184
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