Policy choices in an era of intangibles- where to start?

Rohinton P. Medhora ()
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Rohinton P. Medhora: Centre for International Governance Innovation

No 1308, Working Papers from Economic Research Forum

Abstract: Based on the author’s keynote talk at the ERF’s 25th anniversary conference in Kuwait City (March 10-12, 2019), this paper outlines the research and policy dimensions of the fast-rising intangibles economy. The key features of such economic structures are – the centrality of (mostly proprietary) intellectual property; high upfront costs for firms but near-zero marginal costs of production if successful; first-mover advantage especially if backed up by standard-setting; and handsome rewards for strategic behavior. There is no single route to success in such a world; in fact many successful countries have had ex ante daunting challenges not unknown among ERF countries. The ethos that drives the ERF has never been more essential than it is today.

Pages: 22 pages
Date: 2019-08-21, Revised 2019-08-21
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Published by The Economic Research Forum (ERF)

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