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22 0 obj <>/ProcSet [/PDF /Text /ImageB /ImageC /ImageI ]/XObject <<>>>>/Type /Page >> endobj The theoretical and empirical study of economic growth has produced a voluminous and diverse literature. economic growth, they would rework the current system, which is guilty of advancing both an inequitable one-size-fits-all approach and ineffective time constraints. In the modern economy, innovation is crucial for value creation, growth and employment and innovation processes take place at the enterprise, regional and national level. 2 0 obj <>>> endobj 1213 0 obj
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JEL codes: K2, O3, O4 Keywords: technological innovation, economic growth, permissionless innova - tion, regulation, risk-taking, entrepreneurship, total factor productivity James Broughel and Adam Thierer. �2�y���Q:��R�]]y�2��ֆ�xYM��D��0LV�u:_�"�#.�r��=# 21 0 obj <>/ProcSet [/PDF /Text /ImageB /ImageC /ImageI ]/XObject <<>>>>/Type /Page >> endobj
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Innovation is essential for sustainable growth and economic development. 0000003189 00000 n
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Entrepreneurship, Innovation and Economic Growth PAST EXPERIENCES, CURRENT KNOWLEDGE AND POLICY IMPLICATIONS 1 February!2010! 0000004202 00000 n
Or in the words of Nobel Prize-winning economist Robert Solow, “[r]elatively free trade has the advantage that the possibility of increasing market share in world markets is a constant incentive for innovative activity.” Ghi���$J�c����_�+˱IB��2�GHZ훤gw�8��Cẞ�#!�+�X� ��/�w��h.�R�����G��8 }��t��PH_U�!
The empirical investigation of whether stronger patent rights leads to higher rate of economic growth is predicated on two structural premises, i.e., stronger patent rights give rise to more innovation, and the latter, in turn, generate faster economic growth, through …
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Key words Innovation, economic growth, Chinese economy JEL codes O33, O53 .
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Technological innovation, a major force in economic growth It is taken as axiomatic that innovative activity has been the single, most important component of long-term economic growth and this paper will start by drawing upon the findings of a very influential paper published by my colleague at Stanford, Prof. Abramovitx, back in the mid-1950s. 2! innovation, growth, and ongoing improvements in the quality of life of citizens.
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Using the cointegration technique, we investigate possible long-term relationships between three innovation output indicators (patent applications, industrial design applications and trademark applications) and GDP per capita as a proxy of economic growth. 0000009068 00000 n
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This implies that innovation, like capital stock, leads to only short term increases in the growth rate of output, and is not able to explain perpetual economic growth. endstream endobj 3 0 obj <> endobj 7 0 obj <>> endobj 11 0 obj <>/ProcSet [/PDF /Text /ImageB /ImageC /ImageI ]/XObject <<>>>>/Type /Page >> endobj 158 0 obj
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Innovation and Economic Growth innovation and economic growth The long-term record of success of the US economy is inexorably linked to a growing and well-educated work force, ample research and development expenditures by both public and private sectors, the availability of capital to fund expansion, and access to markets. 0000001595 00000 n
of innovation and thus the rate of economic growth. ҕnq��Õ:-]O~�+,��
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