Archived — Occasional Paper Number 09—Science and Technology: Perspectives for Public Policy, July 1995
Strategic Policy Sector
Economic Research and Policy Analysis Branch
This paper discusses the theoretical explanations of why markets and governments may allocate insufficient resources to various forms of innovative activity and knowledge creation. This paper also argues that government support of S&T can be effective in correcting market failures. However, intervention may not improve on market outcomes if the programs or support do not follow the micro-economic principles of efficient policy design.
Catalogue number: C21-23/9
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