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Technology, Innovation and Industrial Economics: Institutional Perspectives, inspired by the work of William E. Cole, Professor Emeritus at the University of Tennessee at Knoxville, extends his work with essays on technology, innovation and industrial economics from an Institutionalist perspective. The managerial style, innovational practices and industrial setting of the continuous improvement firm are central to several chapters. This volume also features innovation and technology in Latin America, Adam Smith's writing on entrepreneurship and a comparison of American and European Institutionalism. The topics of technology, innovation, industrial organization and industrial policy are being widely discussed and debated in today's literature, but seldom from an Institutionalist perspective. The purpose of this book is to reduce substantially this missing dimension in the ongoing debates on these important issues.
Technology, Growth, and Development uniquely presents the complexities of technical and institutional change on the foundation of modern growth theory. The author shows how the rates and directions of technical change are induced by changes in competitive funding and institutional innovations in the modern research university and industrial laboratory. In turn, technical change itself becomes a powerful source of institutional change. Organized by the author in four parts, the first-Productivity and Economic Growth-gives specific reasons for the slowing of productivity growth in the United States and other leading industrial countries during the last quarter of the twentieth century. In Part II-Sources of Technical Change-the author examines a host of economic factors that influence invention and innovation; the rate and direction of institutional change; and the adoption, diffusion, and transfer of technology. In Part III-Technical Innovation and Industrial Change-he traces the sources and impact of technical change in five strategically important industries: agriculture, electric power, chemical, computer, and biotechnology. The final section, Part IV-Technology Policy-evaluates the role of technical change in international competition, the role of science and technology in environmental policy, and the evolution of U.S. science and technology policy. Technology, Growth, and Development makes few mathematical demands on students, and will be used in courses within economics departments as well as management and public affairs. In addition, it will be required reading for professional economists, managers, and policy analysts at all levels.
Existing literature looks at national innovation systems from the perspective of either "inside the black box" or "outside the black box". This is the first book that analyzes both the inside and outside of the black box using a general equilibrium framework. The book looks at what is outside the black box and provides models of path-dependent endogenous growth; examines the dynamics of the black box from the intersectoral perspective of the economy; and proposes an innovation flow matrix. It also takes into account both business cycles and endogenous innovation in the unified New Keynesian dynamic stochastic general equilibrium (DSGE) model and examines how business cycles and other policy shocks affect endogenous innovation. The unified treatment of the national innovation system from perspectives both inside and outside the black box using rigorous economic models and empirical analyses makes this an enlightening work, shedding new light on innovation economics.
The systems of innovation approach is considered by many to be a useful analytical approach for better understanding innovation processes as well as the production and distribution of knowledge in the economy. It is an appropriate framework for the empirical study of innovations in their contexts and is relevant for policy makers. This text is the result of the work within an international inter-disciplinary network or "working seminar" with the task of building a more solid and sophisticated conceptual and theoretical foundation for the continued study of innovations in a systemic context. The book has three parts. The first presents an overview and tries to work out some conceptual problems. In the second, the systems of innovation approach is related to innovation theory. Part three is devoted to increasing understanding of the functioning and dynamics of systems of innovation. There is also an introduction where the genesis and anatomy of different systems of innovation approaches are discussed and where the systems of innovation approach is characterized in nine dimensions.
This book depicts the role of both formal and informal institutions in achieving long-term economic efficiency and development. It is organized into three sections: the first section deals with the historical and political roots that make institutions favorable to development; the second section offers theoretical perceptions of immaterial institutions; the last section explores how the various official institutions – such as international organizations – interrelate with the process of development. As both the recent global financial crisis and the subsequent sovereign debt crisis within the Eurozone have shown, sustainable development is a combination of human, social and institutional factors that interact with each other and go beyond the strictly economic conditions of each country. With contributions from several countries in Europe as well as Iran, this volume offers readers an international and multidisciplinary perspective of the institutionalist determinants of growth in the long run.
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.
In this ready reference, top academic researchers, industry players and government officers join forces to develop commercial concepts for the transition from current nuclear or fossil fuel-based energy to renewable energy systems within a limited time span. They take into account the latest science and technology, including an analysis of the feasibility and impact on the environment, economy and society. In so doing, they discuss such complex topics as electrical and gas grids, fossil power plants and energy storage technologies. The contributions also include robust, conceivable and breakthrough technologies that will be viable and implementable by 2020.
John Kenneth Galbraith was an eminent economist and proponent of change. The contributors to the book further his analysis on the evolution of capitalism; taking into account changes to the general economic climate since the publication of J.K. Galbraith s main thesis, they outline new ideas which form fertile ground for new research. The book begins with a penetrating analysis of the main features of today s capitalism and in particular the conflict between shareholders and managers. It moves on to focus on the consequences of globalization in the decision-making processes of large corporations and represents an important step in the development of a theory of fraud and corruption within corporations. In the final part, the authors address and explore the consequences of the domination of influential groups over major social and political decisions, on the blurred boundaries between the public and the private sectors and its consequences in the fields of technological regulation and the evolution of public services. In so doing, the authors question the meaning and power of democracy in today s society. Innovation, Evolution and Economic Change will appeal to a wide readership and audience of economists, policy makers and political organization.
This book effectively challenges the conventional wisdom regarding the cluster-innovation relationship and provides convincing evidence to show that the prevailing theoretical models derived from AngloOCoAmerican experiences cannot be uncritically applied to Chinese reality. This book introduces a new theory of state-firm coordination to explain why and how some Chinese ICT firms have turned out to be more innovative than others. Perspectives from the viewpoint of economic geography, institutional economics, political science, and regulation theory have been provided to throw light on the enigma that is China's ICT industry. Empirically, the book provides state-of-the-art findings to clarify the confusion and misunderstanding about the exact nature of the ICT industry in China. This book has essentially set a new baseline and made definitive contribution to knowledge production about China's economic geography. Methodologically, it shows how original, critical, and independent research can be undertaken effectively and innovatively through cross-disciplinary theoretical interaction, deductive reasoning with hypotheses testing, combination of multiple means of data collection; integration of quantitative and qualitative methods; and structured presentation of research findings with extensive tabular, graphic, and cartographic illustrations.