Eleven Facts about Innovation and Patents. Brookings Institution. Jay Shambaugh, Ryan Nunn, and Becca Portman. December 13, 2017
Improvement in living standards over time is not inevitable or automatic. Rather, it is made possible by increases in physical and human capital, technological progress that itself might require large investments, and well-designed institutions. In this set of eleven economic facts, the authors explore central features of the innovation system, including patents, research and development (R&D) investments, and science, technology, engineering, and mathematics (STEM) education. Following this analysis, they highlight opportunities to enhance the effectiveness of the innovation system, thereby contributing to faster technological progress and economic growth. [Note: contains copyrighted material].
[PDF format, 28 pages, 1.43 MB].