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"This excellent book fills a need for an undergraduate- and master's-level text on the economics of innovation, one that covers both the micro- and macroeconomic aspects. It will also be useful reading for anyone who wants an introduction to the way economists analyze topics such as research and development incentives and innovation, and how these factors contribute to growth."--Bronwyn H. Hall, University of California, Berkeley, and University of Maastricht "This important book breaks new ground in identifying and analyzing the key ingredients driving economic growth. By weaving together the links between intellectual property and innovative activity and their ultimate impact on growth, Greenhalgh and Rogers provide a new and original framework for guiding both public policy and future scholarship, one that is compelling and accessible."--David Audretsch, Max Planck Institute of Economics and Indiana University "The authors have achieved the remarkable feat of comprehensively summarizing the extensive and diverse literature on the sources, types, and effects of modern innovation. The book will appeal to advanced undergraduates and master's-level students and is likely to become a standard reference and text for courses in innovation, management strategy, and global business."--Keith E. Maskus, University of Colorado at Boulder "Greenhalgh and Rogers have gifted us with a comprehensive perspective on the micro- and macroeconomics of innovation. This is a precious companion for all those who want to achieve a deeper understanding of the complex dynamics of innovation."--Roberto Verganti, author of Design-Driven Innovation