Metadata record for Replication data for: A Toolkit of Policies to Promote Innovation
116390
Inter-university Consortium for Political and Social Research
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V1
Replication data for: A Toolkit of Policies to Promote Innovation
116390
http://doi.org/10.3886/E116390V1
Nicholas Bloom
John Van Reenen
Heidi Williams
Please see full citation.
This work is licensed under an Other license created by the data depositor. Please refer to the LICENSE file, which should be located alongside the project data and documentation.
Ann Arbor, MI: Inter-university Consortium for Political and Social Research
Bloom, Nicholas, Van Reenen, John, and Williams, Heidi. Replication data for: A Toolkit of Policies to Promote Innovation. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116390V1
H41 Public Goods
I23 Higher Education; Research Institutions
O31 Innovation and Invention: Processes and Incentives
O38 Technological Change: Government Policy
Economic theory suggests that market economies are likely to underprovide innovation because of the public good nature of knowledge. Empirical evidence from the United States and other advanced economies supports this idea. We summarize the pros and cons of different policy instruments for promoting innovation and provide a basic "toolkit" describing which policies are most effective according to our reading of the evidence. In the short run, R&D tax credits and direct public funding seem the most productive, but in the longer run, increasing the supply of human capital (for example, relaxing immigration rules or expanding university STEM admissions) is likely more effective.