Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is that a purely macro-based analysis of growth is not enough. The various mechanisms of innovation creation and diffusion, the importance of agent heterogeneity, of market selection processes, of the internal organization of the firm and of organizational routines, and the obsolescence and the consequent emergence of new types of capital goods are a few examples of micro-economic phenomena that contribute decisively to macro-economic development. The papers in this volume approach those issues from a Schumpeterian point of view and tackle issues like the growing importance of knowledge and human capital; increasing returns and path dependence; the role of variety in economic growth; competition and industry evolution.
Table of Content
Conception.- Innovation, competition, and growth: Schumpeterian ideas within a Hicksian framework.- The technology evolving culture: character and consequence.- Motivation, innovation and co-ordination.- A micro-meso-macro perspective on the methodology of evolutionary economics: Integrating history, simulation and econometrics.- Modelling.- Product variety, competition and economic growth.- A dual economy model of endogenous growth with R&D and market structure.- Technological change and the vertical organization of industries.- Evolutionary micro-dynamics and changes in the economic structure.- The microfoundations of business cycles: an evolutionary, multi-agent model.- Technological progress and inequality: an ambiguous relationship.- Empirics.- Labor market institutions and industrial performance: an evolutionary study.- Renascent entrepreneurship.- Growing like mushrooms? Sectoral evidence from four large European economies.- Diversity in innovation and productivity in Europe.- Heterogeneity of innovation strategies and firm performance.- New business formation, growth, and the industry lifecycle.- Division of labor and division of knowledge: A case study of innovation in the video game industry.- Policy.- Policies for a new entrepreneurial economy.- Entrepreneurial state: The schumpeterian theory of industrial policy and the East Asian “Miracle”.- Promoting innovation and competition with patent policy.- Reinforcing the patent system? Effects of patent fences and knowledge diffusion on the development of new industries, technical progress and social welfare.- The structure and the emergence of essential patents for standards: Lessons from three IT standards.
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