A policy toolkit to increase research and innovation in the European Union

Andreas Teichgraeber and John van Reenen

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

Abstract: What research and innovation (R&I) policies should Europe adopt? The world faces a challenge to rebuild after the pandemic, but also faces the same structural slowdown of productivity growth that occurred in the decades before the COVID crisis. We need to have a plan around innovation policy to address the challenge. We show that Europe is less innovative on many dimensions compared to other advanced regions, such as the US and parts of Asia. We review the econometric evidence on R&I policies and argue that there is good evidence for the efficacy of many of them. A mix of R&D subsidies, reinvigorated competition and a big push on expanding the quantity and quality of human capital is needed. These could be bound together around the need for green innovation in order to achieve the mission to radically reduce carbon emissions.

Keywords: innovation; R&D; human capital; Europe (search for similar items in EconPapers)
JEL-codes: J24 O31 O32 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2022-02-25
New Economics Papers: this item is included in nep-ene, nep-env, nep-ino and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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http://eprints.lse.ac.uk/117801/ Open access version. (application/pdf)

Related works:
Working Paper: A policy toolkit to increase research and innovation in the European Union (2022)
Working Paper: A policy toolkit to increase research and innovation in the European Union (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:117801

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