Provides an overview and assessment of established research on firms' strategic choices of R&D efforts and their firm-level returns, and explains the consequences for economy-wide technological change and growth.

Includes analyses of firms' innovation strategies, their firm-level returns, and economy-wide consequences Goes from the micro- to the macro-perspective Includes contributions by scholars from different disciplines

Martin Andersson is an economist by training and has a PhD in economics from the Jonkoping International Business School (JIBS). Before joining CIRCLE, Prof. Andersson worked as research coordinator at CESIS and post-doc researcher at the Royal Institute of Technology (KTH) and JIBS. His research focuses on innovation, trade and location and their interplay, including non-linear relations and dynamics in innovation and learning processes. Börje Johansson received his PhD at the University in Gothenburg in 1978. Prof. Johansson is editor of the international journal Annals of Regional Science (Springer-Verlag). In Sweden he has carried out major projects on high-speed train development and on transport policies for the National Swedish Road Authority. Charlie Karlsson is also Guest Professor of Economics at University West, Trollhättan and Associate Professor in Regional Planning at the Royal Institute of Technology, Stockholm. He holds a BSc and an MSc in Economics from the University of Gothenburg and a PhD in Economics from Umea University. In his research, Prof. Karlsson has focused on infrastructure economics, urban economics, the economics of innovation and technological change, regional economics, spatial industrial dynamics, entrepreneurship and small business economics, international trade, and the economics of R&D and higher education. Hans Lööf is also deputy director of the Center for Excellence of Science and Innovation Studies and program manager for the Master Programme Economics of Innovation and Growth. Prof. Lööf is member of the editorial board of The Annals of Regional Science and has worked as expert on innovation for the Ministry of Industry in Sweden. His main research interest is the process of economic growth, and its relation to knowledge, technology, and innovation. This includes areas such as micro econometrics, economics of innovation, economic geography, international trade, industrial dynamics, and financial economics.

Includes analyses of firms' innovation strategies, their firm-level returns, and economy-wide consequences Goes from the micro- to the macro-perspective Includes contributions by scholars from different disciplines