of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … accumulation, investment, and upgrading of knowledge and (ii) the implementation of mechanisms that enable knowledge to be … exploited such that growth and societal prosperity are encouraged. Knowledge is a necessary but far from sufficient condition …

more important when there is an increase in network effects. A consequence is higher innovation incentives under an … reducing bidding competition, thereby also reducing acquisition prices and innovation incentives. …

growth. In contrast, we find that HGFs are overrepresented in knowledge-intensive service industries, i.e., service …