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and economic growth, accounting for as much as one-third of the contribution of ICT (information and communications technology) capital to GDP growth since 1995 in Denmark, France, the Netherlands, Sweden and the United States (OECD, 2007a). H�|TMo�@��W�q�ԓ��n���^��)�7R'�S".�vfv�(B9xwo�{��۶J����F�mJ }�P]��Vh����w>�&��*~( �c�`S�R|���=��j%গuB-�2�kiЋ��8�:`#�����,=�#H�Q����ڣc������+m'JN��(�w��P:���r�r��&�a�?r����e��L[��iD��'�*`P�e棳4߁��*$Դxr̀���Ņl���A��TG��b�~ �C�p��u�/h_ǿӂ���?���\O����"�~p�wj�p�5�'r���}��_SrM��w�ތP������ͪ�\P����3���;��:�����Ih��_��n��ҝɲ�͹ҳ�t;� ~A�Q�S)��s���%t�� �f��T����T}1{��k;�� ��>��y��]�d. x�b```"SVVAd`a`b��$Т ��v5Mr�<0�@� ��l|�Xg1��a�t�t���OY'7y�����w�z��N柌�l��N0���ط��N�t����"9|�X&�{0L-�YjUz&�&4�<4��644 ju@Oa��e���"��2 �%��:����S*lr�jHJH��A�Y��+>�N ���@-�ـUa�P�Q(C��(���"��a0��|0d���c@� �o%N��m�͝ƚQ8/�q��M�ew$�o����VQ%��hFz���y2@n��.��dq����RG��1�P�``R������@�@Ҙ�� (�(��R��$ �r00�e�ma� �; G���X��ia V[����rA�YG���"�[U�\f.M�(,P?���\f����f0kp?X�a�`�-�O�`N�����/(�1�/sX����0 �6�- 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 <>stream 24 0 obj <>/ProcSet [/PDF /Text /ImageB /ImageC /ImageI ]/XObject <<>>>>/Type /Page >> endobj These studies take such a wide variety of approaches that it is difficult to summarise their results concisely. 43 0 obj <> endobj 20 0 obj <>/ProcSet [/PDF /Text /ImageB /ImageC /ImageI ]/XObject <<>>>>/Type /Page >> endobj 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.” 0000007727 00000 n Introduction Since the initiative of economic reform in 1978, China has enjoyed high economic growth for three decades. endstream endobj 169 0 obj <>stream 37 0 obj <>/ProcSet [/PDF /Text /ImageB /ImageC /ImageI ]/XObject <<>>>>/Type /Page >> endobj

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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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h�bbd```b``��. This paper reviews the empirical evidence on one very important aspect of the growth process - the effect of innovation on growth.

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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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0000001404 00000 n 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~�+,�� endstream endobj 1214 0 obj <>stream



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