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This article discusses the potential impact of reforming Argentina's innovation policy on innovative and economic activity, drawing from evidence of case study markets. We review existing evidence on the relationship between changes in innovation policy and innovative activities to develop an analytical framework. Using the framework, we compare innovative activity in Argentina to other Latin American markets and case-study markets in Asia that have experimented with innovation policy. Drawing on a statistical analysis of the impact of these policies on innovative and economic activity in the case-study markets, we develop a scenario-based model on the potential innovative growth in Argentina, focusing on the pharmaceutical industry. These results are particularly relevant for Argentina, as a market with a strong resource base to undertake innovation, but which has underperformed in terms of innovative activity. Strengthening the policy environment could unlock Argentina's potential and support a step change in innovative activity and the transition to a more knowledge-intensive pharmaceutical industry. This could be achieved by strengthening intellectual property rights relevant to the pharmaceutical and biotech industry and by providing regulatory data protection.
