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Innovation policy in a global economy

Innovation policy in a global economy PurposeThe purpose of this paper is to examine how national innovation policies strategically interact to form emergent de facto global entrepreneurship and innovation policies.Design/methodology/approachReviews the innovation economics theory and policy literature, synthesizing the existing work into three models (autarky, cooperation and competition), then adds four new models of strategic interaction (asymmetric information, duopolistic competition, competitive factor mobility and complementary assets).FindingsThe different models predict very different outcomes. Therefore, it matters which model is true. Entrepreneurship and innovation policy needs to start with an improved science of strategic global interaction of national innovation policy.Research limitations/implicationsConceptual approach only, without empirical analysis, calls for empirical analysis to test the different models.Practical implicationsPoints to the problem of absence of global coordination in innovation policy arising from strategic interactions between national innovation policies. Recognizes that entrepreneurship public policy is caught in this strategic game, and that there are missing global institutions here.Social implicationsImproved innovation policy should enable more effective entrepreneurial environments.Originality/valueProposes seven models for understanding global strategic interaction of innovation policy, out of which four are new. These new ones are highly relevant to entrepreneurship policy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Entrepreneurship and Public Policy Emerald Publishing

Innovation policy in a global economy

Potts, Jason
Journal of Entrepreneurship and Public Policy , Volume 5 (3): 17 – Nov 7, 2016
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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
2045-2101
DOI
10.1108/JEPP-02-2016-0003
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to examine how national innovation policies strategically interact to form emergent de facto global entrepreneurship and innovation policies.Design/methodology/approachReviews the innovation economics theory and policy literature, synthesizing the existing work into three models (autarky, cooperation and competition), then adds four new models of strategic interaction (asymmetric information, duopolistic competition, competitive factor mobility and complementary assets).FindingsThe different models predict very different outcomes. Therefore, it matters which model is true. Entrepreneurship and innovation policy needs to start with an improved science of strategic global interaction of national innovation policy.Research limitations/implicationsConceptual approach only, without empirical analysis, calls for empirical analysis to test the different models.Practical implicationsPoints to the problem of absence of global coordination in innovation policy arising from strategic interactions between national innovation policies. Recognizes that entrepreneurship public policy is caught in this strategic game, and that there are missing global institutions here.Social implicationsImproved innovation policy should enable more effective entrepreneurial environments.Originality/valueProposes seven models for understanding global strategic interaction of innovation policy, out of which four are new. These new ones are highly relevant to entrepreneurship policy.

Journal

Journal of Entrepreneurship and Public Policy – Emerald Publishing

Published: Nov 7, 2016

References

  • Patterns of industrial innovation
  • Competition and innovation: an inverted-U relationship
  • Science, technology and innovation for economic growth: linking policy research and practice in STIG systems