Science, technology, innovation and IP in India: new directions and prospects

Abstract

This paper begins by surveying recent economic studies of the relationships between technology transfer, intellectual property, innovation and diffusion in emerging countries. It applies this literature to the Indian case. India has been experiencing rapid growth and has several high technology sectors staffed by an absolutely large and highly educated middle class. At the same time an even larger share of its very big population is still working in low productivity agriculture and many of these people are living in extreme poverty. Thus it needs to innovate and grow to employ its vast army of unskilled workers. The second part of the paper outlines how industry structure and innovative performance were progressing in India following the economic reforms of the early 1990s and the changes to intellectual property law occasioned by the TRIPS agreement. In the third section the focus turns to recent science, technology and innovation policy in India. A study of the country's potential for innovation by the World Bank in 2007 argued that India must proceed on two fronts. In addition to considering how India's growth prospects can be enhanced by world leading innovations, this volume placed great emphasis on inclusive innovation. This involves mainly the diffusion and absorption of existing knowledge, but is designed to improve the lot of the poor. The World Bank report proposed a number of new policy directions aimed at speeding up innovation and technology diffusion in India.

Government expenditures in the support of technological innovations and impact on stock market and real economy: the empirical evidence from the US and Germany

“…Among the analysed R&D indicators, a high technology export in both economies brings the biggest added value for the growth of GDP. The dominant role of this activity confirms also the study of Brown et al (2017), Greenhalgh (2016).…”

National Ecomonic Practicies: Influence of Tax Policies on the Economic Processes of the Old and the New EU Democracies

“…The impact of corporate tax burdens on private companies as one of the parameters affecting stock market development is a rarely discussed topic in economic literature and scientific articles. Most economists (Chatziantoniou, Duffy, Filis, 2013;Clemens, Miran, 2012;Greenhalgh, 2016) focus on the impact of fiscal policy on the stock market, but not from the perspective of tax policy, but rather from the perspective of the impact of government spending. The impact of monetary policy through monetary aggregates and interest rates, as well as the impact of GDP growth on the development of stock markets are also examined as a priority.…”

“…For Greenhalgh (2016) terms as science, technology, and innovations are very important for the relation between tax policy and stock market. The government can support innovations through direct and indirect stimulus.…”