The Experts below are selected from a list of 2205 Experts worldwide ranked by ideXlab platform
Theofanis Papageorgiou - One of the best experts on this subject based on the ideXlab platform.
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Sector size, technical change and stability in the USA (1957-2006): a Schumpeterian Approach
International Journal of Social Economics, 2014Co-Authors: Konstantinos N. Konstantakis, Panayotis G. Michaelides, Theofanis PapageorgiouAbstract:Purpose - – The purpose of this paper is to investigate two famous postulates of the Schumpeterian doctrine and its implications for the US economy. Design/methodology/Approach - – Analytically, the authors investigate whether sector size matters for sectoral: technological change and stability, as expressed through the relevant quantitative measures and variables. To this end, the authors test a number of relevant models that express the various forms of this relationship. More precisely, the authors use panel data for the 14 main sectors of economic activity in the USA over the period 1957-2006, just before the first signs of the US and global recession made their appearance. Findings - – The results seem to be in line with the Schumpeterian postulate that market size matters for technological change and economic stability, for the US economy (1957-2006). Clearly, further research would be of great interest. Originality/value - – This work contributes to the literature in the following ways: first, it provides an extensive review of the literature on the subject and adopts two relevant methodological Approaches. Second, based on these quantitative Approaches, the paper offers a complete investigation of two famous postulates of the Schumpeterian theory for the US economy, and it is the first, to the best of the authors’ knowledge, to do so by sector of economic activity, in a panel data framework. Third, the paper uses a wide data set (1957-2006) to examine the US economy up until the first signs of the US and global economic recession made their appearance.
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Sector size, technical change and stability in the USA (1957-2006): a Schumpeterian Approach
2014Co-Authors: Konstantinos N. Konstantakis, Panayotis G. Michaelides, Theofanis PapageorgiouAbstract:The main purpose of this paper is to investigate two famous postulates of the Schumpeter hypothesis and its implications for the U.S. economy. Analytically, we investigate whether sector size matters for sectoral (i) technological change and (ii) stability, as expressed through the relevant quantitative measures and variables. To this end, we test a number of relevant models that express the various forms of this relationship. More precisely, we use panel data for the fourteen main sectors of economic activity in the U.S.A. over the period 1957-2006, just before the first signs of the US and global recession made their appearance. The results seem to be in line with the Schumpeterian postulate that market size matters for technological change and economic stability, for the US economy (1957-2006). Clearly, further research would be of great interest.
Michael Nusser - One of the best experts on this subject based on the ideXlab platform.
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The implications of wage structure rigidity on human capital accumulation, economic growth and unemployment: A Schumpeterian Approach to endogenous growth theory
1999Co-Authors: Michael NusserAbstract:The Approach put forward in this article is based on Schumpeter`s idea of creative destruction, the competitive process by which entrepreneurs are always looking for new ideas that will render their rivals` ideas obsolete. I present a model in which the rate of economic growth is sensitive to the interactions between relative wage and human capital accumulation. Human capital is an important source of sustained growth. By focusing explicity on innovation as an economic activity with different economic causes and effects, this article tries to open the door to a deeper understanding of how labor market rigidity in the form of wage structure rigidity affects human capital accumulation, and thereby the long-run growth through their effects on economic agent`s incentives to engage in knowledge-producing (education) activities. New technological vintages make it necessary that workers must become reeducated in order to qualify as skilled workers with the new generation of technology. Wage structure rigidity limits the incentives of agents to accumulate and adjust their human capital. This will be harmful to growth and employment.
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The implications of innovations and wage structure rigidity on economic growth and unemployment: A Schumpeterian Approach to endogenous growth theory
1998Co-Authors: Michael NusserAbstract:The Approach put forward in this article is based on Schumpeter`s idea of creative destruction, the competitive process by which entrepreneurs are always looking for new ideas that will render their rivals` ideas obsolete. By focusing explicity on innovation as an economic activity with different economic causes and effects, this article tries to open the door to a deeper understanding of how labor market rigidities in form of wage structure rigidities affect longrun growth through their effects on economic agent`s incentives to engage in innovative or more generally knowledge-producing activities. That is, to the extent that wage structure rigidities limits the ability of a successful innovator to capture monopoly rents from his or her innovations, it will be harmful to growth and employment.
Andreas Pyka - One of the best experts on this subject based on the ideXlab platform.
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Economic Growth, Development, and Innovation: The Transformation Towards a Knowledge-Based Bioeconomy
Bioeconomy, 2017Co-Authors: Andreas Pyka, Klaus PrettnerAbstract:To improve sustainability, the global economic system has to undergo severe transformation processes. This chapter deals with the possibility of an innovation-triggered transformation towards a knowledge-based bioeconomy, which is supposed to overcome the current lock-in into a fossil fuel-based CO2-intensive production. To do this, a neo-Schumpeterian view is applied that highlights the complex interplay in knowledge generation and knowledge diffusion processes between firms, consumers, and government institutions. By applying the neo-Schumpeterian Approach, it becomes obvious that innovation and economic growth are part of the solution and not part of the sustainability problem. The shift from quantitative growth to qualitative development makes the difference and affects all agents and institutions in an economic system, which needs to be designed as a dedicated innovation system supporting the transformation towards a knowledge-based bioeconomy.
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Transformation of Economic Systems: The Bio-Economy Case
Knowledge-Driven Developments in the Bioeconomy, 2017Co-Authors: Andreas PykaAbstract:To improve sustainability, the global economic system has to undergo severe transformation processes. This chapter deals with the possibility of an innovation-triggered transformation towards a knowledge-based bioeconomy, which is supposed to overcome the current lock-in into a fossil fuel-based CO2-intensive production. To do this, a Neo-Schumpeterian view is applied that highlights the complex interplay in knowledge-generation and -diffusion processes between firms, consumers and government institutions. By applying the Neo-Schumpeterian Approach it becomes obvious that innovation and economic growth are part of the solution and not part of the sustainability problem. The shift from quantitative growth—prevailing in textbook economics—to qualitative development—prevailing in Neo-Schumpeterian economics—makes the difference and affects all agents and institutions in an economic system, which needs to be designed as a dedicated innovation system supporting the transformation towards a knowledge-based bioeconomy.
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A Neo-Schumpeterian Approach towards Public Sector Economics
2009Co-Authors: Horst Hanusch, Andreas Pyka, Florian WackermannAbstract:Innovation is the major driver of economic growth and development. To analyze innovation processes the restriction of a framework suited to the analysis of innovation towards the industrial sphere of an economy is not sufficient because of the important co-evolutionary dimensions of innovation. Instead, a comprehensive economic theoretical Approach is needed which encompasses all spheres of economic life. This paper is filling this gap by introducing Comprehensive Neo-Schumpeterian Economics and the Neo-Schumpeterian Approach towards public sector economics.
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A NEO-Schumpeterian MODEL OF ENERGY MARKETS
Cybernetics and Systems, 2009Co-Authors: Ramon Scholz, Andreas PykaAbstract:The article deals with a Neo-Schumpeterian growth model which in addition to the traditional production factors labor and capital, also includes energy. Contrary to mainstream neoclassical Approaches, which assume a representative optimizing actor, the heterogeneous actors in our model behave experimentally and in their interactions path dependencies might appear. In particular, the experimental behavior focuses on product innovations in the preliminary product industries which we conceive as the energy industries. In line with the standard literature, the following questions are addressed: What are the effects of energy-saving, and what are the effects of a singular reduction of energy consumption on the economy, both in the short-and long-term? Our Neo-Schumpeterian Approach allows us to generate results that are directly comparable with mainstream neoclassical models. The model is designed in a way that by switching off the Neo-Schumpeterian innovation process allows the reproduction of traditional results. Considering, however, uncertain product innovations and path dependencies alters these results and generates new insights.
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"Manifesto" for Comprehension Neo-Schumpertian Economics.
History of Economic Ideas, 2007Co-Authors: Andreas Pyka, Horst HanuschAbstract:Within the last 25 years large progress has been made in Neo-Schumpeterian Economics, that branch of economic science which deals with dynamic processes causing qualitative transformation of economies basically driven by the introduction of novelties. By its very nature, technological innovation is the most exponent and visible form of novelty. However, Neo-Schumpeterian Economics should be concerned with all facets of open and uncertain developments. A Comprehensive Neo-Schumpeterian Approach has to consider not only transformation processes going on on the industry level of an economy, but also those on the public and monetary realms. Our manifesto introduces these extensions and complements towards a Comprehensive Neo-Schumpeterian Economic Theory, and develops some guideposts in the sense of a roadmap for necessary strands of analysis in the future.
Konstantinos N. Konstantakis - One of the best experts on this subject based on the ideXlab platform.
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Sector size, technical change and stability in the USA (1957-2006): a Schumpeterian Approach
International Journal of Social Economics, 2014Co-Authors: Konstantinos N. Konstantakis, Panayotis G. Michaelides, Theofanis PapageorgiouAbstract:Purpose - – The purpose of this paper is to investigate two famous postulates of the Schumpeterian doctrine and its implications for the US economy. Design/methodology/Approach - – Analytically, the authors investigate whether sector size matters for sectoral: technological change and stability, as expressed through the relevant quantitative measures and variables. To this end, the authors test a number of relevant models that express the various forms of this relationship. More precisely, the authors use panel data for the 14 main sectors of economic activity in the USA over the period 1957-2006, just before the first signs of the US and global recession made their appearance. Findings - – The results seem to be in line with the Schumpeterian postulate that market size matters for technological change and economic stability, for the US economy (1957-2006). Clearly, further research would be of great interest. Originality/value - – This work contributes to the literature in the following ways: first, it provides an extensive review of the literature on the subject and adopts two relevant methodological Approaches. Second, based on these quantitative Approaches, the paper offers a complete investigation of two famous postulates of the Schumpeterian theory for the US economy, and it is the first, to the best of the authors’ knowledge, to do so by sector of economic activity, in a panel data framework. Third, the paper uses a wide data set (1957-2006) to examine the US economy up until the first signs of the US and global economic recession made their appearance.
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Sector size, technical change and stability in the USA (1957-2006): a Schumpeterian Approach
2014Co-Authors: Konstantinos N. Konstantakis, Panayotis G. Michaelides, Theofanis PapageorgiouAbstract:The main purpose of this paper is to investigate two famous postulates of the Schumpeter hypothesis and its implications for the U.S. economy. Analytically, we investigate whether sector size matters for sectoral (i) technological change and (ii) stability, as expressed through the relevant quantitative measures and variables. To this end, we test a number of relevant models that express the various forms of this relationship. More precisely, we use panel data for the fourteen main sectors of economic activity in the U.S.A. over the period 1957-2006, just before the first signs of the US and global recession made their appearance. The results seem to be in line with the Schumpeterian postulate that market size matters for technological change and economic stability, for the US economy (1957-2006). Clearly, further research would be of great interest.
FaÏz Gallouj - One of the best experts on this subject based on the ideXlab platform.
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Neo-Schumpeterian perspectives on Innovation in Services
2000Co-Authors: Camal Gallouj, FaÏz GalloujAbstract:The economics of services is seeking an appropriate theory of innovation. A priori, a neo-Schumpeterian Approach does not seem incompatible with the principal traits of the service economy. This article poses the following question. To what extent do neo-Schumpeterian analyses of innovation account for innovation in services? It offers a critical appraisal of attempts to apply these ideas to services, from simple conceptual and methodological transpositions (transposition of analyses of paradigms, technological trajectories and sectoral taxonomies of forms of technical change) to attempts to create more complete theoretical constructs.
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Towards a Neo-Schumpeterian Theory of Innovation in Services ?
Peace Economics Peace Science and Public Policy, 1997Co-Authors: FaÏz GalloujAbstract:The economics of services is seeking an appropriate theory of innovation. A priori, a neo-Schumpeterian Approach does not seem incompatible with the principal traits of the service economy. This article poses the following question. To what extent do neo-Schumpeterian analyses of innovation account for innovation in services? It offers a critical appraisal of attempts to apply these ideas to services, from simple conceptual and methodological transpositions (transposition of analyses of paradigms, technological trajectories and sectoral taxonomies of forms of technical change) to attempts to create more complete theoretical constructs.
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Towards a neo-Schumpeterian theory of innovation in services?
Science and Public Policy, 1997Co-Authors: FaÏz GalloujAbstract:The economics of services is seeking an appropriate theory of innovation. A priori, a neo-Schumpeterian Approach does not seem incompatible with the principal traits of the service economy. This article poses the question, to what extent do neo-Schumpeterian analyses of innovation account for innovation in services? It offers a critical appraisal of attempts to apply these ideas to services, from simple conceptual and methodological transpositions (transposition of analyses of paradigms, technological trajectories and sectoral taxonomies of forms of technical change) to attempts to create more complete theoretical constructs. Copyright , Beech Tree Publishing.
