Innovation, Organization and Economic Dynamics


Book Description

Conventional economic analysis of property rights in natural resources is too narrow and restrictive to allow for effective comparisons between alternative institutional structures. In this book, a conceptual framework is developed for the analysis of the




The Theory of Money and Financial Institutions


Book Description

This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.




Innovation, Reallocation, and Growth


Book Description

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between highand low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using US Census micro data on firm-level output, R&D and patenting. The model provides a good fit to the dynamics of firm entry and exit, output and R&D. Taxing the continued operation of incumbents can lead to sizable gains (of the order of 1.4% improvement in welfare) by encouraging exit of less productive firms and freeing up skilled labor to be used for R&D by high-type incumbents. Subsidies to the R&D of incumbents do not achieve this objective because they encourage the survival and expansion of low-type firms.




Firm Innovation and Productivity in Latin America and the Caribbean


Book Description

This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.







Essays in Honor of Edwin Mansfield


Book Description

Edwin Mansfield was a research pioneer into the economics of R and D and technological change. As appreciation and remembrance for his scholarly contributions, eminent scholars have contributed original papers for this edited volume. The authors have followed the "Mansfieldian” approach of emphasizing economic insight and intuition over mathematical rigor and as a result are very accessable. Essays in Honor of Edwin Mansfield has the potential to serve as a reader in all advanced undergraduate and graduate classes/seminars in the economics of R and D and technological change. This edited volume will be the definitive work in the field.




Finance and Growth


Book Description

"This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--NBER website







Microsoft, Antitrust and the New Economy: Selected Essays


Book Description

No antitrust case in recent history has attracted as much public attention as U.S v. Microsoft Corp. Nor has any antitrust case in memory raised as many complex, substantive issues of law, economics and public policy. Microsoft, Antitrust and the New Economy: Selected Essays constitutes an early effort to analyze some of the central issues and to put the case in the context of the ongoing debate over the role of government in managing markets - especially in technology driven New Economy industries. All of these essays, it should be noted, are written by critics of the government's efforts to regulate Microsoft. Indeed, many are by individuals who were closely involved in the company's legal defense and served as consultants to Microsoft. But their work should be judged on the merits rather than their provenance. For all represent serious scholarship by researchers committed to advancing the debate over government regulatory policies.




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.