Innovation and economic growth

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

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Abstract

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:	http://cep.lse.ac.uk
Additional Information:	© 1996 G.Cameron
Divisions:	Centre for Economic Performance
Subjects:	H Social Sciences > HB Economic Theory
Sets:	Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP)
Date Deposited:	12 Aug 2008 14:45
Last Modified:	25 May 2019 23:19
URI:	http://eprints.lse.ac.uk/id/eprint/20685

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