China, India and other developing countries need to create incentives for innovation if they want to achieve robust economic growth during the next decade, a Harvard University economist said.
“Continued rapid growth in the developing world will require pro-active policies that foster structural transformation and spawn new industries,” Dani Rodrik, a professor of international political economy at Harvard, said in a paper released today at a conference at Jackson Hole, Wyoming.
Industrialized economies, including the U.S., used innovation incentives “on the way to becoming rich,” Rodrik said. “Such policies have never been easy to administer.”
To read the full, original article click on this link: China’s Growth Depends on Innovation, Harvard’s Rodrik Says - Bloomberg
Author: Jeannine Aversa
