and Audretsch in which innovation activity is measured by number of innovations. Jaffe's work, which modified the … on innovations than patents using Jaffe's model. By directly substituting the innovation measure for the patent measure …

of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … economy. We argue that the latter area has been overlooked in the policy discussion and that a coherent innovation policy …