A New Institutional Approach to Innovation Policy
2016; Wiley; Volume: 49; Issue: 2 Linguagem: Inglês
10.1111/1467-8462.12153
ISSN1467-8462
AutoresSinclair Davidson, Jason Potts,
Tópico(s)Firm Innovation and Growth
ResumoAustralian Economic ReviewVolume 49, Issue 2 p. 200-207 Policy Forum: Research and Innovation A New Institutional Approach to Innovation Policy Sinclair Davidson, Sinclair DavidsonSearch for more papers by this authorJason Potts, Jason PottsSchool of Economics, Finance and Marketing, RMIT University, Victoria 3000 Australia. Corresponding author: Potts, email < jason.potts@rmit.edu.au>.Search for more papers by this author Sinclair Davidson, Sinclair DavidsonSearch for more papers by this authorJason Potts, Jason PottsSchool of Economics, Finance and Marketing, RMIT University, Victoria 3000 Australia. Corresponding author: Potts, email < jason.potts@rmit.edu.au>.Search for more papers by this author First published: 31 May 2016 https://doi.org/10.1111/1467-8462.12153Citations: 17 Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Abstract 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. Citing Literature Volume49, Issue2June 2016Pages 200-207 RelatedInformation
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