Inovačné procesy z pohľadu teórie endogénneho rastu
Innovation Processes from the Viewpoint of the Theory of Endogenous Growth

Summary/Abstract: We summarize main effects which lead to the innovation rate in real economy being different from social optimum. From the viewpoint of theory of economic growth, it is possible that market subjects innovate less but also more than socially optimal. Intensity of competition is one of the most important determinants of innovation rate. We list main policy instruments which can influence rate of innovation.

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