Capitalising on innovation

By P.S. Yeoh

March 2015 FEATURE
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Mainstream innovation experts suggest that technological innovation in the R&D sector employing human capital and existing knowledge stock exerts a positive impact on per capita output in both emerging and advanced economies. Opinions are divided, however, on whether this can help explain sustained economic growth.Economic growth today is driven not merely by capital accumulation but by creative capability. Hence, unlike the approach of neo-classical and Keynesian economics, innovation borne by tacit and codified knowledge applied in a positive, enabling environment...

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PM
P.S. Yeoh

is a retired businessman and academician. He currently does research as a hobby.

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