Government is studied as supporter of science and of the transformation of scientific discoveries into new technology and firm formation. The importance of scientific discovery outside academe is recognized as is the experimental nature of the transformation process entailing frequent business...

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Market competition is central to innovative activity, the diffusion process and macro-economic productivity growth. Productivity growth at all levels comes about through institutional reconfiguration in response to the ongoing market process. Stable and sustained long-term growth in output...

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