Innovation and Productivity: Using Bright Ideas to Work Smarter

New Zealand Treasury Productivity Paper 08/05

Published: April 2008

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Summary Introduction Knowledge and innovation are important drivers of productivity An ‘illuminating’ tale There is a large base of evidence about innovation and productivity Knowledge is an unusual economic good and this has important implications for institutions and policy Non-rivalry Non-excludability Other characteristics Evidence on knowledge spillovers Institutional and policy responses to the challenges of knowledge creation versus dissemination The concept of a national innovation system Innovation and the firm Knowledge creation Knowledge absorption Knowledge application Recent innovation performance presents a mixed picture Policy implications for innovation and productivity References	tprp08-05.pdf (222 KB) pp. 34
List of Figures Figure 1 – Firm-level processes that drive innovation Figure 2 – Relative multi-factor productivity (MFP) levels in market sectors, New Zealand/UK Figure 3 – Science and engineering articles per million inhabitants, 2003 Figure 4 – Average annual growth of GERD and BERD (selected OECD countries 1995-2004, or latest year available) Figure 5 – Research & Development as a percentage of GDP, 2004 Figure 6 – Patents per million population, 2003

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Summary

Introduction

Knowledge and innovation are important drivers of productivity

Knowledge is an unusual economic good and this has important implications for institutions and policy

The concept of a national innovation system

Innovation and the firm

Recent innovation performance presents a mixed picture

Policy implications for innovation and productivity

References

tprp08-05.pdf (222 KB) pp. 34

List of Figures

Figure 1 – Firm-level processes that drive innovation

Figure 2 – Relative multi-factor productivity (MFP) levels in market sectors, New Zealand/UK

Figure 3 – Science and engineering articles per million inhabitants, 2003

Figure 4 – Average annual growth of GERD and BERD (selected OECD countries 1995-2004, or latest year available)

Figure 5 – Research & Development as a percentage of GDP, 2004

Figure 6 – Patents per million population, 2003

Acknowledgements

This paper was prepared by Geoff Lewis. Comments were provided by staff in the Treasury. Thanks in particular go to Sid Durbin, James Beard, Kirsty Flannagan, Melody Guy and Mario di Maio.

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