Professor Ufuk Akcigit explains why supporting young talent is key to lasting innovation

Описание: This discussion examines the role of talent in sustaining innovation, business dynamism, and economic growth. In this conversation, Professor Ufuk Akcigit speaks with Elvira Sojli, Associate Professor of Finance in the School of Banking and Finance at UNSW Business School, about how talent development interacts with industrial policy and firm behaviour. The discussion considers how education systems identify and train talent, how unequal access creates talent misallocation, and why early opportunities shape long-term productivity and social mobility. It frames the economy as a pipeline linking education, labor markets, firm competition, and innovation outcomes, and explains how blockages at any stage can weaken value creation. Drawing on evidence from research on R&D tax credits, the dialogue highlights how policies that stimulate firm demand without expanding the talent pool can raise wages rather than innovation, underscoring the need for coordinated education, labor, and industrial policy to support sustainable growth.

Key takeaways: talent allocation affects innovation outcomes, education policy shapes productivity, industrial policy requires labor supply alignment, misallocation limits value creation, and coordinated institutions support growth.

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