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Promotion of innovation and S&T: The role of finance

Saeed Ahmed and Mahmood ul Hassan Khan, State Bank of Pakistan, Karachi


Promotion of innovation and S&T enables economies to achieve sustainable economic growth. In addition, firms engaged in medium- to high-tech production tend to gain more from innovation and are, on average, more productive compared to enterprises which are limited to low-tech systems. Innovation is, in turn, inextricably linked to the availability and nature of financing. Empirical studies in developing countries reveal that bank financing and FDI play a vital role in this regard. This paper provides an overview of: (a) the role of financing in facilitating S&T and innovation; (b) State Bank of Pakistan’s policy initiatives to make financing available, both in general, and also to specifically facilitate S&T and innovation in the country; and (c) the role of innovations in expanding access to finance in Pakistan.

Bio

Mahmood ul Hasan Khan is currently serving as Senior Economist, Economic Policy Review Department, State Bank of Pakistan. He is responsible for managing SBP’s Annual and Quarterly Reports on the state of Pakistan’s Economy. He has been a regular contributor to other SBP flagship publications including Financial Stability Review, Financial Sector Assessment reports, SBP research Bulletin, and Working Papers. He has authored/co-authored more than 10 articles, which appeared in local and international journals.

Mahmood ul Hasan Khan received his M.A in Development Economics degree from Williams College, USA; M. Phil Economics from Quaid-e-Azam University, Islamabad, and M.A. Economics from the University of Punjab.

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posted by S A J Shirazi @ 3/24/2016 01:22:00 PM,

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