Economics at your fingertips  

A New Institutional Approach to Innovation Policy

Sinclair Davidson and Jason Potts ()

Australian Economic Review, 2016, vol. 49, issue 2, 200-207

Abstract: type="main" xml:lang="en">

Modern research and innovation policy is largely based on neoclassical welfare economics, in which the diagnosis of market failure in the production of new information is translated into a case for innovation policy. Both New Institutional and Public Choice economics criticise this approach because it tends to assume that policy interventions are largely costless and produce only benefits. An alternative policy model is proposed that focuses on minimising the social costs of innovation policy through efficient choice of institutions. We review the recently released National Innovation and Science Agenda through this lens.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

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:

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0004-9018

Access Statistics for this article

Australian Economic Review is currently edited by Ross Williams, Ian McDonald and Mark Wooden

More articles in Australian Economic Review from The University of Melbourne, Melbourne Institute of Applied Economic and Social Research Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

Page updated 2021-06-28
Handle: RePEc:bla:ausecr:v:49:y:2016:i:2:p:200-207