Singh, Lakhwinder (2006): Innovations and Economic Growth in a Fast Changing Global Economy: Comparative Experience of Asian Countries.
Download (145Kb) | Preview
Innovations spur growth and economic transformation is widely acclaimed in economic growth literature. The transition in the national innovation system is the fundamental determinant of long-run economic growth and development. This is being reflected through the changes which are occurring in the economic structure of an economy as well as in the structure of the innovation system. Since the national economies are growing in the interdependent world, therefore national innovation system is continuously being influenced by the changes occurring in other parts of the world. Transformation of East Asian countries from imitation to reaching the frontier areas of innovations in a short span of time is a question that has been explored in this paper. Asian continent has emerged as the hub of innovative activities in the fast pace of globalization. Within Asian continent, there are wide differentials in the stage of economic development and transformation as well as in the national innovation systems. Two distinct patterns of economic transformation and systems of innovations which has evolved over time are-one, based on building strong industrial sector as an engine of innovations and growth; two, the engine of growth is the service sector and innovation system is heavily dependent on foreign capital. Recently, while recognizing the innovative capacity of some of the Asian countries, foreign R&D has devastated the boundaries of the Asian innovation system. Domestic agents of production have realized that there lies a dire need for the support of the state when innovations are being done on the frontiers of knowledge. Situational assessment surveys have also supported the view that Asian countries are fast approaching towards the frontiers of knowledge and innovations. Asian countries, themselves are competing to fast approach towards frontiers of knowledge and innovations so that newer areas of commercial activities can be explored and exploited in the global market. This paper while learning from East Asian innovation policies has also explored the role of national and international agencies in strengthening the national innovation systems of the less developed countries in the fast changing global economy.
|Item Type:||MPRA Paper|
|Original Title:||Innovations and Economic Growth in a Fast Changing Global Economy: Comparative Experience of Asian Countries|
|Keywords:||Technology policy; technological indicators; national innovation system; structural transformation; innovation institutions; economic growth; Asia|
|Subjects:||O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences; Diffusion Processes|
|Depositing User:||Lakhwinder Singh|
|Date Deposited:||03. Oct 2006|
|Last Modified:||12. Feb 2013 06:48|
Arrow, K.J. (1962), “Economic Welfare and the Allocation of Resources of Invention” in R. Nelson (ed.) The Rate and Direction of Inventive Activity: Economic and Social Factors, Princeton: Princeton University Press.
Cornelius, P.K. (ed.) (2003) The Global Competitiveness Report 2002-2003, World Economic Forum, New York: Oxford University Press.
Fagerberg, J. and Verspagen, B. (2001) “Technology-Gaps, Innovation-Diffusion and Transformation: An Evolutionary Interpretation”, Eindhoven Centre for Innovation Studies, Eindhoven: Eindhoven University of Technology.
Jaumotte, F. and Pain, N. (2005) “An Overview of Public Policies to Support Innovations” Economic Department Working Papers No. 456, Organisation for Economic Co-operation and Development (OECD).
Jones, C.I. and J.C. Williams (1998), “Measuring the Social Return to R&D”, Quarterly Journal of Economics, vol.113, pp. 1119-1135
Nelson, R.R. (1959), “The Simple Economics of Basic Scientific Research”, Journal of Political Economy, vol.67, pp. 297-306
Ruttan, V.W. (2001) Technology, Growth, and Development: An Induced Innovation Perspective, New York: Oxford University Press.
Singh, L. (2006) “Innovations, High-Tech Trade and Industrial Development: Theory, Evidence and Policy”, UNU-WIDER Research Paper No. 2006/27, United Nations University-World Institute for Development Economics Research, Helsinki, Finland, 2006.
Soete, L. (2006) “A Knowledge Economy Paradigm and its Consequences” Working Paper Series No. WP2006-001, UNU-MERIT.
Stern, N. (2004) “Keynote Address-Opportunities for India in a Changing World”, in Francois Bourguignon and Boris Pleskovic (eds.) Accelerating Development, Annual World Bank Conference on Development Economics, New York: Oxford University Press.
Stiglitz, J. E. (1999) “Knowledge As a Global Public Good”, in Inge Kaul, Isabelle Grunberg and Marc A. Stern (eds.) Global Public Goods: International Cooperation in the 21st Century, New York: Oxford University Press.
UNCTAD (2005) World Investment Report 2005: Transnational Corporations and the Internationalization of R&D, New York: United Nations.
UNDP (2001) Making New Technologies Work for Human Development: Human Development Report 2001, New York: Oxford University Press.
UNESCO (2004) UIS Bulletin on Science and Technology Statistics, Issue No.1, April 2004, UNESCO Institute of Statistics.
World Bank (1998/1999) World Development Report, Oxford: Oxford University Press.
Yusuf, S. (2003) Innovative East Asia: The Future of Growth, Washington, D.C.: The World Bank.
World Bank (2006) World Development Indicators 2006, Washington, D.C.: The World Bank.