Productive and cognitive innovaton strategy: African framework design

Abstract

Since the mid 1990's, economists have come to recognize the role of innovative activity in firms productivity growth, particularly in the competitive market economies. However, the most conducive market environment for innovative activity has also become a subject of interest. Thus, a major constraint on industrial dynamism in African countries is said to be the dearth of indigenous entrepreneurs. This paper therefore argued for the provision of comprehensive innovation policy, in which the government supports the innovators by providing appropriate financial measures, removing regulatory, institutional (competitive) obstacles to innovation and strengthening the knowledge base through investment in education, research and industrial sites in Africa.