Tertiarisation, globalisation, technologisation, demographic change and international migration combine to produce changes that affect many spheres of life: new markets are opening up, technological progress accelerates, the usefulness of original education declines, training and ongoing...

This paper reviews the major finance-related causes of private under-investment in innovation and the consequent alternative choices for public policy. The focus is on incentive-based arguments that address the problem of limited appropriability of new knowledge, and on the lacking access to...