Innovation, Democracy and Efficiency: Exploring the Innovation Puzzle within the European Unions Regional Development Policies [Hardcover]

Endogenous growth theory has significantly impacted most of the developing and developed countries, shifting priorities of industrial policies towards innovation. In line with this trend, the European Union significantly increased its budgetary allocation for R&D. However, statistical data show a weak correlation between R&D expenditure and the acceleration of economic growth. Regional innovation policies display divergent returns according to different institutional conditions and policy choices.

Grillo and Nanetti attempt to understand the reasons that lie behind differences in performance. Their results show that better performing innovation strategies require the following factors: clear choices of locally congruent smart specialization; strong capacity of public investment to stimulate additional private investment; clear distribution of responsibilities for decision-making and independence of policy implementation from political interference; and problem solving partnerships amongst innovators, universities, and governments that pre-exist the programmes. These factors point to a relationship between democracy (defined as openness of policy-making) and innovation (as technology-enabled growth) which is explored throughout this book.
Table Of Contents
List Of Figures
List Of Tables
Preface
Acknowledgements
PART I: THE CHALLENGE OF INNOVATION POLICIES
1.1 Introduction
1.2 What Is Innovation After All And Why Definition Matters
1.3 Endogenous Growth Theory And Its Impact On Regional Development Policies
1.4 Empirical Evidence And The Puzzle Of Innovation
1.5 Why Innovation Policies May Fail
1.6 Merits And Limits Of Smart Specialization As The New Paradigm Of Innovation In EU Regional Policies
1.7 Democracy And Efficiency For Success In Innovation: A Conceptual Framework Of Partnerships
1.8 Organization Of l