摘要：The literature on economic growth has identified
knowledge expansion as a key propellant. Early
research derived this conclusion from the residual
that remained after the growth contributions from
capital and labour had been accounted for. Later
modifications expanded the concept of fixed capital
to include intangible capital. The underlying drivers
of innovation have, meanwhile, been explored by
the endogenous growth literature. Together, these
efforts have reconfirmed the role of knowledge and
innovation in growth. But they also point to the
importance of competition and firm entry and exit as
key motivators for firms to innovate. Policies aiming
to boost growth must therefore look beyond the
amounts invested in R&D and also provide for well-
functioning labour, product and financial markets.
