Are There Laws of Innovation?

Beyond real GDP, innovative capacity is an important indicator of the economic strength of a nation. By studying innovative capacity and other indicators of success in innovation across the Group-of-Seven (G7) Countries, the East Asian Newly Industrialised Economies (EANIEs) and Mainland China, this book will systematically establish a positive relationship between innovation outputs and inputs of different economies. In doing so, it seeks to answer the question — are there laws of innovation? It seeks to identify the determinants of innovation at the economy-wide level, ascertain whether these determinants are similar across different economies, and find suitable metrics for comparing relative success in innovation across different economies. It concludes that innovation, rather than being a stroke of good fortune, comes from research and development activities conducted over a long period of time, and sheds light on future trends and areas for further research.

Contents:

• Introduction:
  • Introduction
  • Review of the Literature
• Research and Development (R&D) Investments:
  • Comparison of R&D Investments and R&D Capital Stocks across Economies
• Measuring the Outcomes of R&D — Patent Applications and Grants:
  • Domestic Patent Applications and Grants
  • United States Patent Applications and Grants
  • European Patent Grants
  • Chinese Patent Grants
  • Indicators of Relative Success in Innovation across Economies
  • Innovation at the Microeconomic Level
• Are There Laws of Innovation?:
  • The Econometric Models
  • The Research Findings
• Beyond R&D and Patents:
  • Complementary Inputs to R&D Capital
  • Other Indicators of Innovation Success
• Concluding Remarks:
  • Conclusions and Directions for Further Research

Readership: Economists, technologists, government officials, researchers, inventors, intellectual property specialists, students of innovation, and professionals interested in innovation, intellectual property, and patents.