Economics and Econometrics of Innovation

Although some researchers have always been interested in the role of innovation in creating long-term economic growth, the groundbreaking work of Solow (1957), Nelson (1959) and Arrow (1962) made many other economists recognize the central role played by innovation in almost all spheres of economic activity. This text presents an overview of work in the field of innovation and technical change. It collects 22 contributions that reflect the results of worldwide research efforts and remind us of the importance of economic incentives in shaping and directing innovative activities. The volume presents an edited selection of papers that were first presented at the 10th International ADRES conference. One particular goal of this book is to bring out the complementary nature of the various approaches to innovation, and to facilitate in-depth dialogues both between microeconomists and macroeconomists, and between theoreticians and econometricians.General topics that are considered range from the economy-wide effects of innovation on growth and employment to the variation of individual firm innovative performance; from the analysis of networks and standardization to the role of intellectual property rights and the assessment of knowledge spillovers.