Productive and Cognitive Innovation Strategy: African Framework Design

Abstract:     
Since the mid 1900’s, economist have come to recognize the role of innovative activity in firms productivity growth, particularly in the competitive market economies. However, the most conducive market environment for innovative activity has also become a subject of interest. Thus, a major constraint on industrial dynamism in African countries is said to be the dearth of indigenous entrepreneurs. This paper therefore argued for the provision of comprehensive innovation policy, in which the government supports the innovators by providing appropriate financial measures; removing regulatory, institutional (competitive) obstacles to innovation; and strengthening the knowledge base through investment in education, research and industrial sites in Africa.

Number of Pages in PDF File: 37

Keywords: innovation policy, Africa, Nigeria, investment, productivity, science parks, business clusters, economic zones, inventions, free trade zones, cognitive revolution, industrial revolution, infrastructures, technology, research and development; venture capital

JEL Classification: D20, L60, L70, L90, M13, O30, O31, O32, Q10, Q20, Q30, Q40, R10

working papers series