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Financing innovation in Brazil: empirical evidence and implicit S&T policy

Author

Listed:
  • Luiz Martins Melo

    (IE/UFRJ)

  • Márcia Siqueira Rapini

    (Cedeplar-UFMG)

Abstract

Financing innovation is not emphasized by neo-schumpeterian approach, despite Schumpeter (1982) himself having already emphasized the relevance of the bank system in the economic development. In this article we analyze financing innovation in Brazil through recent empirical evidence from Brazilian Innovation Survey. In doing so, we also highlight the implicit S&T policy as it influences firms’ investment decision. An integrated and articulated operation of NIS relies upon the definition of an innovation policy that faces the problems of articulation between institutions that comprise it, and, thus, reduces the uncertainty inherent to contradictions between implicit and explicit innovation policies, building a trustful institutional environment for investors.

Suggested Citation

  • Luiz Martins Melo & Márcia Siqueira Rapini, 2012. "Financing innovation in Brazil: empirical evidence and implicit S&T policy," Textos para Discussão Cedeplar-UFMG td454, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td454
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20454.pdf
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    More about this item

    Keywords

    financing innovation; innovation survey; Brazil; implicit policy.;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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