Andreas Pyka

Horst Hanusch

The Elgar Companion to Neo-Schumpeterian Economics is a cutting-edge collection of specially commissioned contributions highlighting not only the broad scope but also the common ground between all branches of this prolific and fast developing field of economics. For 25 years economists have been investigating industrial dynamics under the heading of neo-Schumpeterian economics, which has itself become a mature and widely acknowledged discipline in the fields of innovation, knowledge, growth and development economics. The Elgar Companion to Neo-Schumpeterian Economics surveys the achievements of the most visible scholars in this area. The contributions to the Companion give both a brief survey on the various fields of neo-Schumpeterian economics as well as insights into recent research at the scientific frontiers. The book also illustrates the potential of neo-Schumpeterian economics to overcome its so far self-imposed restriction to the domains of technology driven industry dynamics, and to become a comprehensive approach in economics suited for the analysis of development processes in all economic domains. Integrating both the public sector and financial markets, the book focusses on the co-evolutionary processes between the different domains. As a roadmap for the development of a comprehensive neo-Schumpeterian theory, the Companion will be an invaluable source of reference for researchers in the fields of industrial dynamics and economic growth, and academics and scholars of economics generally. PhD students will find the Companion an indispensable general introduction to the field of neo-Schumpeterian economics. It will also appeal to politicians and consultants engaged in national and international policy as the Companion deals with the highly important and ever topical phenomena of economic development.

Elgar Companion to Neo-Schumpeterian Economics

Jung-In Yeon

Tae yu Gim

Tai-Yoo Kim

Empirical Evidence of the Economic Development Model by the Creation of New Sectors

Structural Shift and Increasing Variety in Korea, 1960–-2010

This judicious selection of recent essays demonstrates the applicability of the fundamental principles of neo-Schumpeterian economics, namely, innovation and uncertainty. The authors demonstrate how neo-Schumpeterian economics is developing into a comprehensive economic theory encompassing industry, the public sector and financial markets. Neo-Schumpeterian economics has become a prolific field with a major orientation towards innovation-driven industrial dynamics. However, a truly comprehensive neo-Schumpeterian approach argues that innovation is also an important element in both the public and financial sectors. For example, a lack of public infrastructure or speculative bubbles in financial markets can hinder or even prevent economic development. The expert contributions to this book deal with the future orientation of the subject in terms of innovative performance in the industrial, financial and public sectors. Recent Advances in Neo-Schumpeterian Economics can be considered a first attempt to substantiate the comprehensive neo-Schumpeterian approach, of which Horst Hanusch has been a leading proponent. This unique and path-breaking book will be of great interest and value to researchers in the fields of innovation, industrial economics, financial markets and the public sector.

Essays in Honour of Horst Hanusch

Recent Advances in Neo-Schumpeterian Economics

Iris Lewandowski

Jochen Weiss

Stephan Dabbert

This book is at the cutting edge of the ongoing research in bioeconomy and encompasses both technological and economic strategies to master the transformation towards a knowledge- and bio-based production system. The volume combines different international perspectives with approaches of the various fields of research. Bioeconomy is one of the future concepts of an economy which, while based on renewable biological resources, also predicts economic growth. Starting from a growth-economic as well as knowledge- and innovation-economic perspective the contributions give an overview of different existing patterns and cases and describe the basic prerequisites for the bioeconomy transformation. Therewith, the volume is a resource for experts and newcomers in the field of bioeconomy giving insight into the life cycle of bio-based products, detailing the latest advancements and how to turn them into economic growth.

Technological and Economic Perspectives

Knowledge-Driven Developments in the Bioeconomy

This book focuses on knowledge-based economies and attempts to analyze dynamic innovation driven processes within those economies. It shows that evolutionary economics, and in particular the strand of applied industry and innovation studies often called Neo-Schumpeterian economics, has left the nursery of new academic approaches and is able to offer important insights for the understanding of socio-economic processes of change and development having a strong impact on economic reality all over the world. The contributions are summarized under four major sections knowledge and cognition, studies of knowledge-based industries, the geographical dimension of knowledge-based economies and measuring and modelling for knowledge-based economies and give a broad overview of the prolific research being undertaken in applied evolutionary economics. Students will find this book an invaluable resource for future research, as will researchers seeking an introduction to new methods and perspectives of analysis.

Applied Evolutionary Economics and the Knowledge-based Economy

Hans-Peter Burghof

Innovation and finance are in a symbiotic and twin-track relationship: a well-functioning financial system spurs innovation by identifying and funding stimulating entrepreneurial activities which trigger economic growth. Innovations also open up profitable opportunities for the financial system. These mutual dynamics cause and need innovative adaptations in the financial system in order to better deal with the changing requirements of a knowledge-based economy. The volume comprises different contributions which focus on the central imperative of this evident connection between financial markets and innovation which, despite its importance, is only barely considered in academia, as well in practice so far. The book is about the mutual interdependence of innovation processes and finance. This interdependent relationship is characterized by a high degree of complexity which stems, on the one hand, from the truly uncertain character of innovation and, on the other hand, from the different time scales in both domains. Whereas innovation processes are long-term and experimental, financial markets are interested in shortening time horizons in order to optimize financial investments. Economies which do not manage to align the two realms of their economic system are in danger of ending up in either financial bubbles or economic stagnation. The chapters of this book deal with different aspects of this complex interrelationship between innovation and finance, highlighting, for example the role of stock markets, venture capital and international financial transactions, as well as the historical co-development of the financial and industrial domains. Thus far, the communities in economics dealing with both issues are almost completely disconnected. The book brings together economic research dealing with the interface between innovation and finance and highlights the importance of the Neo-Schumpeterian perspective. This topic is of particular interest in the current economic crisis affecting the Eurozone and its currency. Most of the policy instruments discussed and implemented so far are focused on short-run targets. This discussion of the relationship between innovation and finance suggests a long-run perspective to create new potentials for economic growth and a sustainable way out of the economic crisis.

Innovation and Finance

Nigel Gilbert

Petra Ahrweiler

This book explores how complexity science and social simulation can be used to improve and inform policy-making in both research and innovation. Beginning with an introduction to conceptual definitions of complexity science and social simulation, the book demonstrates the validity of the underlying integrated research framework used throughout. It is then divided into two parts, with the first investigating the effects and impacts of policy making on the structure, composition and outputs of research and innovation networks using the agent-based SKIN platform (Simulating Knowledge Dynamics in Innovation Networks, http://cress.soc.surrey.ac.uk/SKIN/). The second half of the book discusses a research initiative funded by the Irish government focusing on innovation policy simulation for economic recovery. This consists of empirical research on Irish research and innovation networks, and SKIN-based simulations of technology transfer issues and the commercialization of research in areas with high potential for innovation and economic growth. The book concludes with reflections on the maturity and utility of an approach combining complexity science and social simulation for research and innovation policy. Joining Complexity Science and Social Simulation for Innovation Policy will be of particular interest to scientists concerned with innovation and complex systems, including economists, sociologists, and complexity researchers, as well as students and practitioners, such as innovation policymakers and innovation business managers.

Agent-based Modelling using the SKIN Platform

Joining Complexity Science and Social Simulation for Innovation Policy

Esben Sloth Andersen

The book gives an overview of important research topics recently addressed in evolutionary Neo-Schumpeterian Economics. The list of research questions and applications of Neo-Schumpeterian reasoning impressively demonstrates the rich possibilities ranging from theoretical issues addressing human behaviour to applied areas like the emergence of biotechnology in developing countries, the role of innovation on financial markets and the R&D strategies of multinational enterprises. The chapters in this book bring together a rich set of new analytical and empirical methodologies which allow for new relevant and rigorous insights in innovation processes which are responsible for economic development and structural change.​

Demand, Finance, Organization, Policy and Innovation in a Schumpeterian Perspective

Long Term Economic Development

Franco Malerba

Kurt Dopfer

Richard R. Nelson

Giovanni Dosi

Keun Lee

Constance E. Helfat

Pier Paolo Saviotti

Presents the evolutionary perspective of the economy as perpetually moving, driven by innovation, and the empirical research this has guided.

An Overview

Modern Evolutionary Economics

Yeşim Kuştepeli

Dominik Hartmann

Migration is conceived differently in Europe compared with countries like the US, Canada or Australia. International Innovation Networks and Knowledge Migration confronts traditional views on migration with modern theories of brain circulation and innovation networks, showing that migration leads to mutual benefits for both the home and host countries This new volume brings together several case studies and empirical in-depth analyses which are constructed from the strong migration relationship between Turkey and Germany that has existed for more than 50 years. Bringing together over 20 international contributors, this book highlights that knowledge migration and cultural diversity can strongly stimulate entrepreneurial activities, competence acquisition and economic development of countries and regions. The authors highlight the considerable scope for improvement of European migration policies in order to be better prepared to successfully process structural changes stemming from an aging society in Europe, and an increasing international division of labour. This volume is suitable for those who study industrial economics, international economics and European economics. It is also of interest to those who want to delve deeper into the Turkish-German migration nexus.

The German–Turkish nexus

International Innovation Networks and Knowledge Migration

Andreas Pyka

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