Innovation and economic growth

Gavin Cameron

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

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.

JEL-codes: J1 (search for similar items in EconPapers)
Pages: 35 pages
Date: 1996-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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http://eprints.lse.ac.uk/20685/ Open access version. (application/pdf)

Related works:
Working Paper: Innovation and Economic Growth (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:20685

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