Innovation - in products and processes - is an increasingly significant source of competitive advantage for firms and nations. Analysing extensive data on major innovations in the UK, this book examines the role of innovative activity in the structure of markets and the performance of firms. From this the author draws lessons on strategies for innovation for governments and firms alike. In particular, he addresses four questions which have long attracted the
interst of economists: - does the structure of product markets affect the pace of innovative activity? - what are the effects of innovative activity on market
structure? - how large a contribution does innovative activity make to productivity growth? - how does innovative activity affect corporate performance?In answering these important questions the author draws lessons for makers of public and business policy towards innovation.
`The author clearly has an intimate knowledge of his subject, and communicates his thoughts lucidly using a minimum of economic jargon ... what makes this book of special note are the chapters concerning the design of the database and the substantive lessons to be learned from considering this set of investigations collectively ... Readers should be encouraged by 10 pages of well-chosen, up-to-date reference materials and a particularly comprehensive index
in this book.'
Journal of Prod. Innov. Manag.