Events
Five Growth Mysteries in Search of a Broader Innovation Policy
May 19, 2014Job Creation, Competitiveness, and Productivity

Why is it that countries experience such different development outcomes despite similar structures of production? Why is it that the quality of developing country exports does not seem to catch up to that of advanced countries? Why is it that poor countri... es seem to invest so little in R&D? This talk will draw on historical evidence and recent empirical work to document the absolute centrality of the innovation agenda.  See More

Why is it that countries experience such different development outcomes despite similar structures of production? Why is it that immigrants often dominated the industrialization process in Latin America, despite facing the same weak business climates and institutions as the locals? Why is it that the quality of developing country exports does not  seem to catch up to that of advanced countries? Why is it that—given the enormous potential gains to Schumpeterian catch up in terms of growth, poverty reduction, and the generation of widespread, high-quality employment—poor countries seem to invest so little in R&D? Finally, why does China do so much?

This talk will draw on historical evidence and recent empirical work to document the absolute centrality of the innovation agenda. It will then argue that our conception of innovation policy and the National Innovation System needs to include a broader range of complementary ingredients, such as managerial ability and well developed financial markets, than is customarily considered. It will draw on global data as well as Asian and  Latin American case studies.

 

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    William Maloney, Lead Economist, Research Department

    William F. Maloney is Lead Economist in the World Bank’s Development Research Group. He received his PhD in economics from the University of California Berkeley (1990), his BA from Harvard University (1981), and he studied at the University of the Andes in Bogota, Colombia (1982-83). He has published on issues related to international trade and finance, developing country labor markets, and innovation and growth. In addition to publications in academic journals, he coauthored Natural Resources: Neither Curse nor Destiny and Lessons from NAFTA, as well as several flagship publications of the Latin American division of the Bank, most recently Informality: Exit and Exclusion and Does What You Export Matter: In Search of Guidance for Industrial Policies.
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    Asli Demirgüç-Kunt, Director of Research

    Asli Demirgüç-Kunt is the Director of Research in the World Bank. After joining the Bank in 1989 as a Young Economist, she has held different positions, including Director of Development Policy, Chief Economist of Financial and Private Sector Development Network, and Senior Research Manager, doing research and advising on financial sector and private sector development issues.
  • Gerardo Corrochano, Director, Innovation, Technology, and Entrepreneurship, FPD Network

    Gerardo Corrochano is the Director of the Innovation, Technology, and Entrepreneurship Global Practice, and Director for Financial and Private Sector Development (FPD) for the Europe and Central Asia (ECA) Region of the World Bank. Previously he was FPD Sector Manager in Africa (2007-2010) and Europe and Central Asia (2003-2007). Prior to joining the World Bank, Mr. Corrochano pursued studies in economics and finance at the Universidad del Pacifico (Peru), Rochester Institute of Technology, and George Washington University.

The Policy Research Talks showcase the latest findings of the research department and their implications for World Bank operations. The goal of the monthly event is to facilitate a dialogue between researchers and operational staff, so that we can challenge and contribute to the World Bank's intellectual climate and re-examine conventional wisdom in current development theories and practices.