Unlocking the potential of inclusive research and innovation systems and policies in Least Developed Countries (LDCs)

Abstract

Research and innovation (R&I) are a key driver of the knowledge economy promoting economic growth, productivity and employment. According to Schumpeter, innovation drives the creative destruction process underlies modern growth theory, and it is the critical ingredient in historical accounts of how countries achieve prosperity (Schumpeter, 2008- Original work published 1942). R&I are also essential in addressing a wide range of ongoing societal problems, keeping public and private companies at the competitive edge and achieving each of the 17 Sustainable Development Goals (SDGs) of the UN 2030 Agenda. There is also abundant evidence that R&I played and is playing, a key role in the take-off of Asian economies such as South Korea, China and India (OECD, 2016).