The Political Economy of R&D in a Global Financial Context

Jerry Courvisanos
Additional contact information
Jerry Courvisanos: University of Ballarat

Chapter 6 in Powerful Finance and Innovation Trends in a High-Risk Economy, 2008, pp 88-109 from Palgrave Macmillan

Abstract: Abstract Expenditure on research and development (R&D) forms the basis of incremental innovation for medium-to-large corporations in all advanced economies. Successful innovation out of R&D provides a high rate of return to the economy. This is because, although the vast majority of projects fail to materialize any tangible results, these failures contribute significantly to knowledge accumulation in the innovation process. However, the high risk and fundamental uncertainty arising out of R&D raise concerns about funding such activity. The new global financial system places this concern into a much sharper context.

Keywords: Large Firm; Venture Capital; Innovation Process; Radical Innovation; Monopoly Power (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-58409-9_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230584099

DOI: 10.1057/9780230584099_7

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().