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    Technology and Innovation Policies for Small and Medium-Sized Enterprises in East Asia

    Intarakumnerd, Patarapong; Goto, Akira | July 2016
    Abstract
    Policies for stimulating technological development and innovation in small and medium-sized enterprises can be divided into three groups. Supply-side policies aim at increasing firms' incentives to invest in innovation by reducing costs. Demand-side policies are public actions to induce innovation and/or speed up the diffusion of innovation. Systemic policies focus on strengthening interactive learning between actors in innovation systems. Policies can be implemented through various instruments comprising tax incentives, grants or direct subsidies, low-interest loans, and the government's direct equity participation. These instruments have pros and cons. The experiences of four late-industrializing East Asian economies'Taipei,China; Singapore; Malaysia; and Thailand'provide key lessons. Firms at different levels of technological and innovative capability need different policy instruments. The more successful economies have a higher level of flexibility and policy coordination and learning. The amount, duration, and continuity of government supporting schemes are crucial. Policy makers must have a deep understanding of what constitutes innovations and innovation systems, and how they evolve over time. Innovation financing policies require other corresponding policy initiatives to make them successful. Lastly, institutional factors do shape the choices and effective implementation of these policies.
    Citation
    Intarakumnerd, Patarapong; Goto, Akira. 2016. Technology and Innovation Policies for Small and Medium-Sized Enterprises in East Asia. © Asian Development Bank Institute. http://hdl.handle.net/11540/6615.
    Keywords
    Securities
    Competition
    Industrial competition
    Unfair competition
    Monopolies
    Competition policy
    Development cooperation
    Economic discrimination
    Industrial Development
    Financial Services Industry
    Industrial Sector
    Industry
    Development Economics
    Economic Models
    Organization for Economic Cooperation and Development
    Automobiles
    Competition
    Comparative economics
    Communication in economic development
    Industrialization
    Monopoly
    Barriers to entry
    Monopolistic competition
    Restraint of trade
    Price discrimination
    Imperfect competition
    Press monopoly
    Diversification in industry
    Unfair competition
    Investment banking
    Automobile industry
    Automobile industry workers
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    Citable URI
    http://hdl.handle.net/11540/6615
    Metadata
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    adbi-wp578.pdf (341.8Kb)
    Author
    Intarakumnerd, Patarapong
    Goto, Akira
    Theme
    Economics
    Industry
    Small Medium Business
     
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise