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The macroeconomic impact of government innovation policies

This report was funded by Innovate UK, part of UK Research and Innovation, for a research project undertaken by the IIPP and UCL Institute for Sustainable Resources

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25 July 2019

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In this report, we introduce a new theoretical framework for understanding the links between fiscal policy and innovation, arguing that ‘mission-oriented’ innovation policy, which focuses on concrete societal problems that can only be solved by multiple sectors interacting in new ways, can generate very large economic returns—so called ‘supermultiplier’ impacts.

Authors:

Matteo Deledi

Research Fellow, Roma Tre University and Honorary Research Fellow, UCL Institute for Innovation and Public Purpose

Vincenzo de Lipsis

Research Fellow
UCL Institute for Sustainable Resources

 

Mariana Mazzucato

Director and Professor in the Economics of Innovation and Public Value UCL Institute for Innovation and Public Purpose

Josh Ryan-Collins

Head of Research
UCL Institute for Innovation and Public Purpose

Paolo Agnolucci

Associate Professor
UCL Institute for Sustainable Resources