Are There Laws Of Innovation?

Beyond real GDP, innovative capacity is an important indicator of the economic strength of a nation.By studying innovative capacity and other indicators of success in innovation across the Group-of-Seven (G7) Countries, the East Asian Newly Industrialised Economies (EANIEs) and Mainland China, this book will systematically establish a positive relationship between innovation outputs and inputs of different economies.In doing so, it seeks to answer the question — are there laws of innovation?It seeks to identify the determinants of innovation at the economy-wide level, ascertain whether these determinants are similar across different economies, and find suitable metrics for comparing relative success in innovation across different economies.It concludes that innovation, rather than being a stroke of good fortune, comes from research and development activities conducted over a long period of time, and sheds light on future trends and areas for further research.