Innovation Policy—A Systemic Approach

Charles Edquist

in The Globalizing Learning Economy

Published in print October 2002 | ISBN: 9780199258178
Published online November 2003 | e-ISBN: 9780191595868 | DOI:
 Innovation Policy—A Systemic Approach

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Many innovations arise spontaneously as a result of the market mechanism and the actions of capitalist firms, but some, especially the more radical ones, require public intervention. The first part of this chapter discusses when such policy interventions might be necessary and why. The next section discusses selectivity in innovation policy. The last (main) section of the chapter discusses the general and specific policy implications of the new ‘system of innovation’ (SI) approach; this studies innovations as an endogenous part of the economy and has emerged only in the last decade or so. An SI can be defined as encompassing all the important factors that influence the development, diffusion, and use of innovations, as well as the relations between these factors, which can be studied in a national, regional, or sectoral context.

Keywords: economic policy; innovation policy; public intervention; state intervention; system of innovation (SI) approach

Chapter.  9503 words. 

Subjects: Economic Development and Growth

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