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The Rate and Direction of Inventive Activity Revisited

Online ISBN:
9780226473062
Print ISBN:
9780226473031
Publisher:
University of Chicago Press
Book

The Rate and Direction of Inventive Activity Revisited

Published online:
21 February 2013
Published in print:
15 April 2012
Online ISBN:
9780226473062
Print ISBN:
9780226473031
Publisher:
University of Chicago Press

Abstract

While the importance of innovation to economic development is widely understood, the conditions conducive to it remain the focus of much attention. This volume offers theoretical and empirical contributions to questions relating to the economics of innovation and technological change while revisiting the findings of a classic book. Central to the development of new technologies are institutional environments, and among the topics discussed here are the roles played by universities and other nonprofit research institutions, and the ways in which the allocation of funds between the public and private sectors affects innovation. Other chapters examine the practice of open research and how the diffusion of information technology influences the economics of knowledge accumulation.

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