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Public financial support for commercial innovation in ECA countries (Inglês)

Key factors driving self-sustained, long-term economic growth are innovation and technology absorption; these factors are generated from within the economic system, responding to economic incentives. This conceptual framework molds analysis: on the one hand, the view of the centrality of innovation and knowledge creation in the growth process and, on the other hand, the understanding that these are economic factors that may be shaped and influenced by properly designed economic policies. For the purpose of this knowledge brief, innovation can be defined as the development and commercialization of new unproven technologies and untested processes and products, and absorption as the application of existing technologies, processes, and products. The ability of an economy to research and develop new technologies increases its ability to understand and apply existing technologies. Vice versa, the absorption of cutting-edge technology inspires new ideas and innovations.


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    Goldberg, Itzhak Trajtenberg, Manuel Jaffe, Adam Muller, Thomas Sunderland, Julie Blanco Armas, Enrique

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  • País

    Europa e Ásia Central,

  • Região

    Europa e Ásia Central,

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  • Nome do documento

    Public financial support for commercial innovation in ECA countries

  • Palavras-chave

    matching grant;matching grant program;absorptive capacity;high failure rate;cost of labor;human capital stock;flow of information;private sector investor;intellectual property rights;regulatory reform agenda;removal of barrier;environment for innovation;business support service;risk sharing;government failure;existing technology;institutional design;technology absorption;funding source;private investor;government support;financial instrument;investment climate;limited partner;economic competitiveness;research institute;conceptual framework;research institutions;profitability target;domestic expenditure;state capture;research budget;innovation policy;Innovation Policies;external financing;high ratio;academic institution;research return;globalized economy;commercial applications;Technology Transfer;angel investor;innovation cycle;skill development;local skills;research capacity;high penalty;government play;public intervention;Job Creation;equity fund;strategic investor;vested interests;existing business;commercial innovation;entrepreneurial activity;government spending;public program;innovative effort;government intervention;market failure;technology base;commercial viability;government guarantee;political actor;unproven technology;Economic Policy;knowledge creation;Tax Holiday;rent seeking;technological development;business sector;removing barriers;risk capital;private investment;development work;tax incentive;regulatory intervention;



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