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- W2979486952 abstract "Economic theory suggests that market economies are likely to underprovide innovation because of the public good nature of knowledge. Empirical evidence from the United States and other advanced economies supports this idea. We summarize the pros and cons of different policy instruments for promoting innovation and provide a basic “toolkit” describing which policies are most effective according to our reading of the evidence. In the short run, R&D tax credits and direct public funding seem the most productive, but in the longer run, increasing the supply of human capital (for example, relaxing immigration rules or expanding university STEM admissions) is likely more effective." @default.
- W2979486952 created "2019-10-18" @default.
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- W2979486952 date "2019-10-08" @default.
- W2979486952 modified "2023-10-16" @default.
- W2979486952 title "A toolkit of policies to promote innovation" @default.
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- W2979486952 doi "https://doi.org/10.32609/0042-8736-2019-10-5-31" @default.
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