A new economy: the changing role of innovation and by Organization for Economic Cooperation and Development OECD PDF

By Organization for Economic Cooperation and Development OECD

ISBN-10: 9264176942

ISBN-13: 9789264176942

What's riding fresh progress in OECD international locations? Why is it that their degrees of GDP according to capita are not any longer converging? Why is it that a few nations, working on the technological frontier, the place advances are tricky, seem to be widening the distance? This learn indicates that good fortune calls for now not a few silver bullet, yet a number of complementary components that aid the innovation-intensive development exemplified via new details and verbal exchange applied sciences reminiscent of the web and web functions like digital trade. Supportive rules contain these favorable to leading edge start-ups and to monetary platforms in a position to help them, those who facilitate the reorganisation required to harvest the total merits of ICT, regulatory and institutional frameworks that facilitate hyperlinks among technology and undefined, and efforts to coach and procure the mandatory human capital, in addition to public aid for simple medical learn.

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Additional info for A new economy: the changing role of innovation and information technology in growth

Sample text

Financial markets (shares and corporate bonds) have gained in importance at the expense of bank credit, and companies rely increasingly on equity markets for capital. There are marked differences among countries, however, as regards the respective roles of banks and financial markets, the ownership and control of firms, financial regulations and corporate law. All countries have a mix of institutional and market-based financing, but some are predominantly bank-based, while in others financial markets are more important.

A rising part of FDI consists of mergers and acquisitions, which are partly driven by the need to gain access to knowledge. Trade in services is growing rapidly, diffusing new ideas and concepts. - Links to the science base have become more important for innovation: industry patents make greater reference to public science and the business sector finances a growing share of research in universities and public laboratories. - Knowledge-intensive business services, such as computer, R&D and training services, are among the economy’s most rapidly growing sectors and play an important role in the innovation system.

There is abundant evidence of increasing networking between firms, both in the same or different lines of business. Even non-collaborating firms do not innovate in isolation; they purchase embodied technologies, consultant services and intellectual property and scan for ideas from a variety of sources. Networking is also important for small firms, as it offers a way to combine the advantages of small size, such as flexibility, with economies of scale at the network level. 38 Networking can take many forms: research joint ventures, research contracts or cross-licensing agreements.

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A new economy: the changing role of innovation and information technology in growth by Organization for Economic Cooperation and Development OECD


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