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Economists have long argued that developing countries have the
potential for high productivity growth if they adopt existing
technologies and apply them to the local context. This report
brings to bear a battery of new data sources to explore the
innovation ""paradox"": despite the potential for very high
returns, developing countries invest far less in adopting and
inventing new processes and products than advanced countries. The
report posits three broad factors underlying this paradox. The
first is that firms in developing countries lack the managerial and
technological capabilities to undertake meaningful innovation
projects. This implies that conventional innovation policies are
unlikely to be effective, and moving firms up the ""capabilities
escalator"" becomes central. A second factor is that firm
capability is only one of many critical ingredients - for instance,
access to financial markets, macroeconomic stability, and imported
machinery - that are complements to the innovation process, and
whose absence lowers the return to innovation in developing
countries. This implies that cultivating an effective innovation
system will be a greater policy challenge, and that standard
measures of innovation performance, such as research and
development or GDP, are misleading. Finally, government
capabilities required to redress these two points are also
correspondingly weaker in developing countries, so building these
capabilities needs to be explicitly integrated in formulating
innovation policy.
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