Policymakers should promote knowledge spillovers from "summary" of The Industrial Policy Revolution II by J. Esteban,J. Stiglitz,Justin Lin Yifu
Policymakers play a crucial role in fostering economic growth and development. One important concept that policymakers should prioritize is the promotion of knowledge spillovers. Knowledge spillovers refer to the unintentional transfer of knowledge or technology from one firm or individual to another. This transfer can occur through various channels, such as labor mobility, informal networks, or collaborations.
By promoting knowledge spillovers, policymakers can enhance innovation and productivity within an economy. When knowledge is shared among different actors, it can lead to the creation of new ideas, products, and processes. This, in turn, can drive economic growth and competitiveness. Additionally, knowledge spillovers can help to reduce duplication of efforts and resources, as firms can leverage existing knowledge to develop new solutions.
There are several ways in which policymakers c...
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