Innovation, Democracy and Efficiency
Grillo, Francesco / Nanetti, Raffaella Y.![Innovation, Democracy and Efficiency](https://support.digitalhusky.com/media/annotations/sorted/295/29587473/CHSBZCOP0329587473.jpg)
Endogenous growth theory has significantly impacted most of the developing and developed countries, shifting priorities of industrial policies towards innovation. In line with this trend, the European Union significantly increased its budgetary allocation for R&D., However, statistical data show a weak correlation between R&D, expenditure and the acceleration of economic growth. Regional innovation policies display divergent returns according ...