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INNOVATIONS AND ECONOMIC DEVELOPMENT–THE CANADIAN CASE
Author(s) -
Firestone O. J.
Publication year - 1972
Publication title -
review of income and wealth
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.024
H-Index - 57
eISSN - 1475-4991
pISSN - 0034-6586
DOI - 10.1111/j.1475-4991.1972.tb00966.x
Subject(s) - profitability index , abandonment (legal) , economics , sample (material) , business , international trade , finance , political science , chemistry , chromatography , law
This paper assesses the role of inventive and innovational activity in the growth process of Canada, a country which relies overwhelmingly, some 90 per cent, on the importation of technological advances and operational know‐how from abroad. Canada has prospered under this arrangement but at a price. With technology came foreign capital, foreign management and substantial foreign control. To lessen Canada's dependence on foreign know‐how, this country has embarked on an expanded R & D programme. But the pay‐off from these efforts has been less than expected. To throw a light on the subject, the results of two new surveys are presented: one a sample survey of patents granted, the other an interview survey of large corporations. Questions examined include sources of know‐how and technological advances, utilization of inventions and abandonment of innovations, R & D and innovations, domestic and foreign innovations, and the profitability of innovations. Aggregative assessment is supplemented by disaggregative analysis using cross‐section and industry data.