New publication: Backgroundpaper for OECD-EC High-Level Expert Workshop: "Innovation-productivity paradox: Implication for regional policy"

07.09.2021

Innovation-productivity paradox: Implications for regional policy, Thanos Fragkandreas, 2021, Background paper for the OECD-EC High-Level Expert Workshop series “Productivity Policy for Places”, March 3 and 5, 2021.

Abstract: The notion of innovation-productivity paradox refers to the co-existence of exciting new technological innovations (e.g., artificial intelligence, digitalisation, machine learning and robotics) and declining productivity rates in the 21st-century OECD economies. This paper explores the regional dimension of the paradox in question. It aims to distil a set of theory-informed policy implications grounded in key ‘areas of agreement’ among three relevant kinds of research: economic research on the global productivity slowdown, innovation paradoxes research, and regional innovation studies. Overall, the paper underscores that several critical causal factors of the global productivity slowdown are very likely to be operative at the subnational level, rather than solely at the level of firms and nations; hence, the regional scale constitutes a fertile ground to design and implement place-based policies that could boost inclusive productivity growth in the COVID-19-riddled OECD economies.

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