Title: Market Failures of Technological Innovation Mechanism and the Role of Government
Abstract: This paper theoretically analyzes the market failure mechanism in the process of technological innovation on the basis of the perspective of economic theory and technology innovation theory. It's found that through the research about the relevant theories of technological innovation,the nature of the technology innovation activity itself is also the cause of market failure except for the reason of market failure in the sense of economics. Based on the analysis of the market failure mechanism of technology innovation,this research suggests that the government should play an important role in making up for the market failure, and it puts forward the following suggestions for government measures: providing the corresponding policy and financial support according to the different stages of technology innovation; devoting greater effort to the construction of the public support institutions, such as scientific and technological infrastructure,public RD platform; making up for the lack of market in the process of resources integration to better coordinate the role of market and government in the process of technological innovation.
Publication Year: 2015
Publication Date: 2015-01-01
Language: en
Type: article
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