The Importance of Co-ordination in National Technology Policy: Evidence From the Galileo Public Private Partnership
Donald Siegel () and
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Vasilis Zervos: Business School, University of Nottingham, UK
Rensselaer Working Papers in Economics from Rensselaer Polytechnic Institute, Department of Economics
Policy makers seek to identify an institutional framework that facilitates the commercialization of publicly funded R&D. In the space industry, the formation of such a framework is complicated by certain non-economic factors, such as national security considerations and the fact that numerous sovereign nations are often included in the commercialization process. In this paper, a model is outlined, that incorporates both economic and non-economic factors. The paper then demonstrates the importance of co-ordination in national technology policy to achieve an optimal result. The benefits of co-ordination are illustrated through a case study of the design of a major European public-private partnership (PPP) in the space industry, referred to as Galileo.
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