Innovation, Competitiveness and Economic Development: The Case of Canada AFDC Biennial Forum 2006 September 21, 2006 - PowerPoint PPT Presentation

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Innovation, Competitiveness and Economic Development: The Case of Canada AFDC Biennial Forum 2006 September 21, 2006

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Title: Innovation, Competitiveness and Economic Development: The Case of Canada AFDC Biennial Forum 2006 September 21, 2006


1
Innovation, Competitiveness and Economic
Development The Case of CanadaAFDC Biennial
Forum 2006 September 21, 2006
2
Key Messages
  • Innovation system consists of many complex and
    complementary activities
  • A multi-pronged strategy is required
  • Government investments to address market failures
    and large externalities
  • Sound economic environment

3
Links Between Innovation, Competitiveness and
Economic Development
  • Creating a flexible, productive economy is key to
    competitiveness
  • Drivers of productivity
  • Physical capital
  • Human Capital
  • Innovation

4
Sources of Innovation
  • Basic scientific research
  • RD in businesses
  • External sources
  • Key challenge
  • Transforming ideas into practical and marketable
    technologies

5
Canadian Efforts to Promote Innovation
  • Canada is a world leader in publicly funded
    research

6
Canadian Efforts to Promote Innovation (continued)
  • However, Canada lags in the G7 when it comes to
    RD spending in the private sector

7
Canadian Efforts to Promote Innovation (continued)
  • Steps to improve innovative performance
  • Strengthened publicly funded research
  • Programs to help convert public research into
    marketable products and services
  • Venture capital measures
  • RD tax incentives

8
Creating a Climate for Innovation
  • Most important role for government
  • Create framework conditions for innovation
  • Framework Condition 1
  • Macroeconomic stability
  • Gives businesses the confidence and means to
    invest

9
Creating a Climate for Innovation (continued)
  • Canadas macroeconomic framework
  • Low, stable and predictable inflation
  • Sound fiscal management
  • Competitive tax system
  • Floating exchange rate regime

10
Creating a Climate for Innovation (continued)
  • Framework Condition 2
  • Openness to trade and investment
  • Competition increases incentive to innovate
  • FDI provides access to new ideas, technologies
    and management practices
  • Access to global markets increases returns to
    innovation

11
Creating a Climate for Innovation (continued)
  • Framework Condition 3
  • Effective intellectual property rights
  • Potential obstacle to innovation in developing
    countries

12
Innovation, Competitiveness and Economic
Development The Case of CanadaAFDC Biennial
Forum 2006 September 21, 2006
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