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A Practitioner's Guide to Innovation Policy

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A Practitioner's Guide to Innovation Policy A Practitioner’s Guide to Innovation Policy Instruments to Build Firm Capabilities and Accelerate Technological Catch-UpinDevelopingCountries Xavier Cirera, Jaime Frías, Justin Hill, and Yanchao Li A Practitioner’s Guide to Innovation Policy A Practitioner’s Guide to Innovation Policy Instruments to Build Firm Capabilities and Accelerate Technological Catch-Up in Developing Countries Xavier Cirera, Jaime Frías, Justin Hill, and Yanchao Li © 2020 The World Bank 1818 H Street NW Washington, DC 20433 USA Telephone: 202-473-1000 Internet: www.worldbank.org Some rights reserved. This work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Attribution—Please cite the work as follows: Cirera, Xavier, Jaime Frías, Justin Hill, and Yanchao Li. 2020. A Practitioner’s Guide to Innovation Policy. Instruments to Build Firm Capabilities and Accelerate Technological Catch-Up in Developing Countries. Washington, DC: World Bank. Cover art: La Creación de las Aves, (The Creation of Birds) by Remedios Varo. Used with the permission of INBA; further permission required for reuse. Reproducción autorizada por el Instituto Nacional de Bellas Artes y Literatura, 2020 (Reproduction authorized by INBA, 2020). Cover design: Aichin Lim Jones. All queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: [email protected]. DOI: 10.1596/33269 Table of Contents Preface ........................................................................................................................... xi Acknowledgments ...................................................................................................... xv Abbreviations .............................................................................................................xvii Overview ................................................................................................................... xxiii PART I ....................................................................................................................................1 1. The Innovation Policy Challenge and Introduction to This Guide .................3 1.1 The Innovation Policy Challenge in Developing Countries ..................3 1.2 From Upgrading to Invention—A Broader Definition of Innovation ...........................................................................................5 2. Innovation Policy in Developing Countries .......................................................9 2.1 The Innovation Imperative in Developing Countries ............................9 2.2 Firm Capabilities for Innovation: The Importance of Managerial and Organizational Practices ........................................14 2.3 The Need to Prioritize Policies Across the Capabilities Escalator .............................................................................18 2.4 Dispelling Some Myths About Innovation in Developing Countries .......................................................................25 3. Building Government Capabilities for Innovation Policy .............................29 3.1 Elements of Good Innovation Policy Making ......................................30 3.1.1 Policy Design: Rationale and Justification ..................................31 3.1.2 Effectiveness of Implementation .................................................36 3.1.3 Coherence Across the National Innovation System and Consistency and Predictability Over Time ..........................40 3.2. Innovation Policy Agencies and Institutions .......................................42 3.2.1 A Diverse Range of Institutional Arrangements ........................42 3.2.2 The Imperative of Coordination to Advance Innovation Policy .........................................................................46 3.2.3 Institutional Financing ................................................................48 3.2.4 Institutional Capacity Constraints ..............................................50 3.3 Other Important Elements for Innovation Policy Choices ..................53 3.3.1 Demand-Side and Supply-Side Instruments ..............................54 3.3.2 Direct Versus Indirect Policy Support.........................................55 3.3.3 Vertical and Horizontal Innovation Policies ..............................56 3.3.4 Multilevel Governance .................................................................56 3.3.5 The Role of the Private Sector .....................................................57 3.4 Some Guidelines When Searching for Policy Solutions to Innovation Problems .........................................................................58 3.4.1 The (Mechanism) Design of Innovation Policy Instruments .......................................................................59 3.4.2 Searching for Solutions to Common Innovation Problems ...................................................................66 3.4.3 Innovation Policy Across the Firm Life Cycle ............................76 PART II .................................................................................................................................83 4. Instruments to Support Business Innovation ..................................................85 4.1 The Innovation Policy “Space” ..............................................................85 4.2 Profiles of Innovation Policy Instruments ............................................88 4.2.1 Profile 1. Grants and Matching Grants for Innovation and/or R&D Projects .................................................................90 4.2.2 Profile 2. Vouchers for Innovation and Collaboration ..........112 4.2.3 Profile 3. Loans and Loan Guarantees for Innovation ...........123 4.2.4 Profile 4. Tax Incentives for R&D............................................141 4.2.5 Profile 5. Demand-Pull Instruments ......................................153 4.2.6 Profile 6. Technology Adoption and Generation Instruments ..............................................................................185 4.2.7 Profile 7. Early-Stage Support for Innovative Ventures .........239 4.2.8 Profile 8. Inducement Instruments .........................................276 4.2.9 Profile 9. Quality Infrastructure, Standards, Metrology, and Testing ............................................................287 4.2.10 Profile 10. Clusters and Networks for Innovation .................298 5. Four Final Messages ..........................................................................................317 Boxes 3.1 Market Failures Affecting Innovation Activities .....................................................32 3.2 Illustrative Broadly Defined Capabilities of Innovation Agencies .........................52 4.1 Optimizing Matching Rates of Grant Schemes—A Few Alternative Designs Based on Bidding ......................................................................................106 4.2 Vouchers Versus Regular Grants ............................................................................115 4.3 Using Randomized Design to Experiment Voucher Schemes ..............................117 4.4 Persistence of Behavioral Additionality—An Important yet Under Researched Issue .........................................................................................119 4.5 Design Elements of the Innovation Loans Scheme by Innovate UK ...................128 4.6 Typical Stages in a PCP Process .............................................................................156 4.7 Export Competitiveness Programs ........................................................................172 4.8 Applying Supplier Development Initiatives to Government Purchasing to Support SMEs.....................................................................................................173 4.9 Designing Digital and Industry 4.0 Interventions ................................................187 4.10 Definition of a Science and Technology Park .......................................................216 4.11 Demystifying High-Growth Firms ........................................................................253 4.12 Types of Government Programs to Support Early-Stage Equity in the Private Market ........................................................................................................260 4.13 Investment Readiness Programs ............................................................................265 4.14 A Typology of Open Innovation and Inducement Instruments ..........................277 Figures 2.1 Innovation Investments and Distance from the Relative Productivity Frontier ................................................................................................10
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