Industrial policy for innovation: why does it matter?

Rafaelita M. Aldaba and Fernando T. Aldaba
Additional contact information
Rafaelita M. Aldaba: Department of Trade and Industry
Fernando T. Aldaba: Ateneo de Manila University

Philippine Review of Economics, 2024, vol. 61, issue 2, 85-109

Abstract: This paper explores the relationship between industrial policy, innovation, and productivity in the Philippines. It argues that strategic industrial policies can promote innovation by incentivizing market-oriented research and development and commercialization, developing necessary innovation infrastructure, and fostering a skilled workforce equipped to work with new technologies and adapt to changing market demands. The paper also focuses on the importance of connecting innovation and entrepreneurship ecosystems, highlighting the challenges facing the Philippines in this area. It specifically analyzes the country’s startup ecosystem and recommends the establishment of Regional Inclusive Innovation Centers (RIICs) to facilitate collaboration among various stakeholders. Finally, the paper discusses the adoption and adaptation of artificial intelligence and Industry 4.0 technologies and their potential to drive productivity gains and transform the Philippine economy

Keywords: industrial policy; innovation; entrepreneurship; start-up ecosystem (search for similar items in EconPapers)
JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://pre.econ.upd.edu.ph/index.php/pre/article/view/1059/1001 (application/pdf)

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:phs:prejrn:v:61:y:2024:i:2:p:85-109

Access Statistics for this article

More articles in Philippine Review of Economics from University of the Philippines School of Economics and Philippine Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by HR Rabe ().