Technological Innovation and Economic Performance


Book Description

Commissioned and brought tohgether for the research project by the world-renowned Council on Foreign Relations, the authors have produced an important compendia in applied economics.




Technological Systems and Economic Performance: The Case of Factory Automation


Book Description

In 1987 the Swedish National Board for Technical Development (STU, later becoming the Swedish National Board for Industrial and Technical Development, NUTEK) initiated a study of Sweden's Technological Systems and Future Development Potential. A comprehensive, interdisciplinary study was envisioned, yielding not only useful insight but also a permanent competence base for future analyses of technological systems and technology policy in Sweden. Three leading Swedish research institutes were invited to participate: the Industrial Institute for Economic and Social Research in Stockholm, the Department ofIndustrial Management and Economics at Chalmers University of Technology in Gothenburg, and the Research Policy Institute at the University of Lund. I was invited to direct the project. The project group decided to focus initially on a particular technological system, namely factory automation, to be followed by similar studies of other systems. Numerous publications have resulted from the project thus far. The current volume represents a summary of our work on factory automation. It consists of several original essays and of some previously published papers which have been edited, in some cases substantially, in order to form a comprehensive and coherent picture of a technological system. To our knowledge, this is the first in-depth analysis of a technological system designed as a component of a systematic study of technological systems more generally. At the time of this writing, three further studies on electronics and computers, pharmaceuticals, and powder technology are under way, to be published in a later volume.




The Role of Innovation and Entrepreneurship in Economic Growth


Book Description

"Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--




General Purpose Technologies and Economic Growth


Book Description

Traditionally, economists have considered the accumulation of conventional inputs such as labour and capital to be the primary force behind economic growth. In the late-1990s however, many economists place technological progress at the centre of the growth process. This shift is due to theoretical developments that allow researchers to link microeconomic outcomes.




Entrepreneurship and Economic Development


Book Description

Leading international scholars provide a timely reconsideration of how and why entrepreneurship matters for economic development, particularly in emerging and developing economies. The book critically dissects the evolving relationship between entrepreneurs and the state.




Industrial Dynamics, Innovation Policy, and Economic Growth Through Technological Advancements


Book Description

"This book examines the nature of the process of technological change in different sectors of various countries, analyzing the impact of innovation as well as research and development activities on different outcomes in different fields and assessing the design and impact of policies aimed at enhancing innovation in organizations"--Provided by publisher.




Technological Innovation and Economic Performance


Book Description

Information technology accounts for over one-third of recent U.S. GDP growth and nearly two-thirds of corporate capital investment. ''The New Economy'' appears omnipresent, but little is actually known about its workings. This seminal volume brings together the research and critical thinking of many of the world's top macro and micro economists to provide a unique, multifaceted perspective. Through the use of detailed, up-to-date country and industry studies, this book provides the most authoritative and detailed analysis ever assembled into the causes of technological innovation and its relationship to economic performance. The country studies cover the United States, Japan, Germany, France, the United Kingdom, and the Nordic states. Nine industry studies examine the Internet, computers and semiconductors, banking, securities trading, venture capital, energy, agricultural biotechnology, pharmaceutical biotechnology, and automobiles. Commissioned and brought together for the research project by the world-renowned Council on Foreign Relations, the authors have produced one of the most important compendia in applied economics to be published in recent times. The contributors are Charles Calomiris, Ian Domowitz, Robert Evenson, Charles Fine, Robert Gordon, Richard Langlois, Josh Lerner, Markku Malkamäki, Patrick Messerlin, Joel Mokyr, David Mowery, Richard R. Nelson, Stephen Nickell, Gary Pisano, Adam Posen, Daniel Raff, Horst Siebert, Timothy Simcoe, Benn Steil, Michael Stolpe, John Van Reenen, David Victor, and Matti Virén.




The Changing Economics of Medical Technology


Book Description

Americans praise medical technology for saving lives and improving health. Yet, new technology is often cited as a key factor in skyrocketing medical costs. This volume, second in the Medical Innovation at the Crossroads series, examines how economic incentives for innovation are changing and what that means for the future of health care. Up-to-date with a wide variety of examples and case studies, this book explores how payment, patent, and regulatory policiesâ€"as well as the involvement of numerous government agenciesâ€"affect the introduction and use of new pharmaceuticals, medical devices, and surgical procedures. The volume also includes detailed comparisons of policies and patterns of technological innovation in Western Europe and Japan. This fact-filled and practical book will be of interest to economists, policymakers, health administrators, health care practitioners, and the concerned public.




R&D, Innovation, and Economic Growth


Book Description

This paper investigates the main postulations of the R&D based growth models that innovation is created in the R&D sectors and it enables sustainable economic growth, provided that there are constant returns to innovation in terms of R&D. The analysis employs various panel data techniques and uses patent and R&D data for 20 OECD and 10 Non-OECD countries for the period 1981-97. The results suggest a positive relationship between per capita GDP and innovation in both OECD and non-OECD countries, while the effect of R&D stock on innovation is significant only in the OECD countries with large markets. Although these results provide support for endogenous growth models, there is no evidence for constant returns to innovation in terms of R&D, implying that innovation does not lead to permanent increases in economic growth. However, these results do not necessarily suggest a rejection of R&D based growth models, given that neither patent nor R&D data capture the full range of innovation and R&D activities.




Growth in a Time of Change


Book Description

Growth in a Time of Change: Global and Country Perspectives on a New Agenda is the first of a two-book research project that addresses new issues and challenges for economic growth arising from ongoing significant change in the world economy, focusing especially on technological transformation. The project is a collaboration between the Brookings Institution and the Korea Development Institute. Part I of the book looks at key elements of change from a global perspective. It analyzes how technological change, shifts in investment, and demographic transition are affecting potential economic growth globally and across major groups of economies. The contributors explore possible scenarios for the global economy as the digital revolution drives rapid technological change, including impacts on growth, jobs, income distribution, trade balances, and capital flows. Technology is changing the global configuration of comparative advantage and globalization increasingly has a digital dimension. The implications of these developments for the future of sectors such as manufacturing and for international trade are assessed. Part II of the book addresses new issues in the growth agenda from the perspective of an individual major economy: South Korea. The chapters in this section analyze how macroeconomic developments and technological change are influencing the behavior of households and firms in terms of their decisions to consume, save, and invest. Rising income and wealth inequalities are a major concern globally. Against this backdrop, trends in the labor income share and wage inequalities in South Korea are analyzed in terms of the role played by technology, industrial concentration, shifts in labor demand and supply, and other factors. Throughout the book, the contributors, in their analysis of both global and Korea-specific trends and prospects, place emphasis on drawing implications for policy.