Table of Contents
Technological innovation, often recognized as ‘the great growling engine of change’, has long been synonymous with powering economic development. Yet in recent years the opposite has been the case; the global economy has gone through the pains of a financial crisis at a time when patent applications, which are a reasonably good measure of the level of innovation, have surged.
Features and benefits
* A detailed review of international patent statistics since 1980.
* Data visualizations to demonstrate shifting global patent trends.
* Forward looking economic analysis of the fastest growing areas of technology.
* An overview of the advantages and disadvantages of the patent system.
* A historic analysis of global patterns of innovation.
The overriding perception of international innovation resembles a core and a periphery, in which a small and powerful core region of countries has developed a virtual monopoly on the creation of new technologies. Europe, the US and Japan make up the core triad of 20th century technological progress.
A major shift began in the late 20th century that continues to this day. The proportion of patent grants being obtained by residents of the US and Europe is starting to be outstripped by residents of China, Russia and South Korea. Not all of the BRICS nations have shown such significant growth in innovative output.
The chemistry patent category has experienced striking levels of growth in more recent years and this may be a signal towards a shift away from electronic engineering as the focal point of much economic growth, to chemistry based industries being the stand out area for future development. This could become the sixth Kondratiev wave of innovation.
Your key questions answered
* What are the historic patterns of global innovation?
* What is the economic role of patents?
* How have trends in global innovation changed over the last few decades?
* What areas of innovation might drive future economic growth and which countries are leading the way?
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