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- W4252000704 abstract "Over the past three decades, questions related to how, when, where, and why innovation occurs in capitalist economies and how policy can improve innovation performance have moved to the forefront of economic research. While much remains to be confirmed in this research stream, a single finding has emerged clearly: effective government policy is a vital underpinning for superior innovation performance, and government plays an irreplaceable role in promoting (or retarding) innovation. Innovation cannot be simply “left to markets,” for two main reasons. First, effective innovation requires the creation and maintenance of complex knowledge bases and infrastructures that cannot be provided by firms acting alone. Second, innovation is characterized by investment commitments under conditions of elevated risk and uncertainty; therefore incentive structures and risk management processes are necessary; and, in turn, these are critically shaped by public policy." @default.
- W4252000704 created "2022-05-12" @default.
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- W4252000704 date "2015-12-30" @default.
- W4252000704 modified "2023-10-12" @default.
- W4252000704 title "Global Innovation" @default.
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- W4252000704 doi "https://doi.org/10.1002/9781118663202.wberen651" @default.
- W4252000704 hasPublicationYear "2015" @default.
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