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New perspectives in European innovation policy

Author

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  • Krieger, Bastian
  • Licht, Georg
  • Pellens, Maikel

Abstract

Innovation is essential for economic growth, and governments must encourage firms to increase their investments in innovation. Europe is losing ground to its main Asian competitors when it comes to R&D investment, and is barely keeping pace with the U.S. Moreover, the rate of return on innovation has become significantly weaker in Europe. This has been caused by its relative lack of innovative SMEs, the slow diffusion of innovation, and the increasingly competitive innovation marketplace. In this light, scholars and policy makers are arguing for a new approach to European innovation policy that puts more weight on the development of disruptive innovation and on the diffusion of new technologies throughout the market.

Suggested Citation

  • Krieger, Bastian & Licht, Georg & Pellens, Maikel, 2018. "New perspectives in European innovation policy," ZEW policy briefs 7/2018, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewpbs:72018
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    File URL: https://www.econstor.eu/bitstream/10419/183222/1/pb07-18.pdf
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    References listed on IDEAS

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    3. Jones, Charles I & Williams, John C, 2000. "Too Much of a Good Thing? The Economics of Investment in R&D," Journal of Economic Growth, Springer, vol. 5(1), pages 65-85, March.
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    6. David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 2000. "Is public R&D a complement or substitute for private R&D? A review of the econometric evidence," Research Policy, Elsevier, vol. 29(4-5), pages 497-529, April.
    7. Diego Comin & Martí Mestieri, 2018. "If Technology Has Arrived Everywhere, Why Has Income Diverged?," American Economic Journal: Macroeconomics, American Economic Association, vol. 10(3), pages 137-178, July.
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    11. Diego Comin & Bart Hobijn, 2010. "An Exploration of Technology Diffusion," American Economic Review, American Economic Association, vol. 100(5), pages 2031-2059, December.
    12. Comin, Diego & Licht, Georg & Pellens, Maikel & Schubert, Torben, 2018. "Do Companies Benefit from Public Research Organizations? The Impact of the Fraunhofer Society in Germany," Papers in Innovation Studies 2018/7, Lund University, CIRCLE - Centre for Innovation Research.
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    Cited by:

    1. Bianchi, Francesco & Comin, Diego & Kung, Howard & Kind, Thilo & Matusche, Alexander, 2019. "Slow recoveries through fiscal austerity: New insights in the effects of fiscal austerity," ZEW policy briefs 2/2019, ZEW - Leibniz Centre for European Economic Research.
    2. André Stel & Serhiy Lyalkov & Ana Millán & José María Millán, 2019. "The moderating role of IPR on the relationship between country-level R&D and individual-level entrepreneurial performance," The Journal of Technology Transfer, Springer, vol. 44(5), pages 1427-1450, October.

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