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Innovation and economic growth

Cameron, G. (1996) Innovation and economic growth. CEPDP (277). London School of Economics and Political Science. Centre for Economic Performance, London, UK. ISBN 0753003007

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This paper surveys the empirical evidence on the link between innovation and economic growth. It considers a number of different measures of innovation, such as R&D spending, patenting, and innovation counts, as well as the pervasive effect of technological spillovers between firms, industries, and countries. There are three main conclusions. The first is that innovation makes a significant contribution to growth. The second is there are significant spillovers between countries, firms and industries, and to a lesser extent from government-funded research. Third, that these spillovers tend to be localized, wit foreign economies gaining significantly less from domestic innovation than other domestic firms. This suggests that although technological ''catch-up'' may act to equalize productivity across countries, the process is likely to be slow and uncertain, and require substantial domestic innovation effort.

Item Type: Monograph (Discussion Paper)
Official URL:
Additional Information: © 1996 G.Cameron
Divisions: Centre for Economic Performance
Subjects: H Social Sciences > HB Economic Theory
Date Deposited: 12 Aug 2008 14:45
Last Modified: 15 Sep 2023 22:43

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