Abstract:

The 2024 edition of the World Intellectual Property Report highlights the positive impact of innovation and industrial policy on helping to leverage the existing capabilities of a country or region. The report demonstrates how know-how leads to technological progress and economic growth. It looks into three industries, agriculture, motorcycles and videogames to illustrate how policymakers can help build innovative capabilities.To bridge the gap between the poorest and richest countries, economists and policy makers need to address the question of how economies diversify.  By building, diversifying and applying knowledge embodied in technology, economies can boost innovation and drive development.  This report draws on original analysis and three case studies to explore how economies can successfully diversify their capabilities with the support of innovation policies.