Making Innovation Policy Work

Learning from Experimentation

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This book explores emerging topics in innovation policy for more inclusive and sustainable growth, building on concrete examples. It develops the notion of experimental innovation policy – which integrates monitoring and feedback at the policy design stage, and occurs continuously to improve impact and implementation. This approach should help improve the quality and efficiency of public expenditures supporting innovation policy.

Experimental policy making is particularly important for new and emerging innovation domains, where the scope for learning and improvement is the greatest. To make the discussion as concrete and relevant as possible for practitioners and policy makers, three emerging domains of innovation policy are explored in greater detail: innovative entrepreneurship, green innovation, and pro-poor or base-of-the-pyramid (BoP) innovation.



New open economy industrial policy: Making choices without picking winners

This chapter discusses open economy industrial policy, which focuses on connections among domestic firms and between firms and the world market. In contrast to import substitution policies, the objective of such policies is to increase economic openness in order to enhance flows of knowledge, foster productive innovation and strengthen non-traditional exports. This chapter shifts the debate on government activism in support of globally competitive industries from picking winners to a process of step-by-step transformation of the private and public sectors.


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