The notion of endogenous innovation as the outcome of the creative response of firms to out-of-equilibrium conditions is the cornerstone of the new evolutionary complexity. This book elaborates and applies the theoretical framework established in the author’s previous work Endogenous Innovation: The Economics of an Emergent System Property. This volume carefully explores the role of the reactivity of firms to out-of-equilibrium conditions. It also examines the quality of knowledge governance mechanisms in assessing the levels of externalities that define the likelihood of creative responses, as an alternative to adaptive responses.
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The Engines of the Creative Response
This authoritative and enlightening book focuses on fundamental questions such as what is innovation, who is it relevant for, what are the effects, and what is the role of (innovation) policy in supporting innovation-diffusion? The first two sections present a comprehensive overview of our current knowledge on the phenomenon and analyse how this knowledge (and the scholarly community underpinning it) has evolved towards its present state. The third part explores the role of innovation for growth and development, while section four is concerned with the national innovation system and the role of (innovation) policy in influencing its dynamics and responding to the important challenges facing contemporary societies.
The Economics of an Emergent System Property
This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the individual actions of firms, accounts for endogenous innovation and the dynamics of the system.
Edited by Richard Hawkins, Knut Blind and Robert Page
Innovation and standardization might seem polar opposites, but over many years various scholars have noted close connections between the two. This Handbook assembles a broad range of thinking on this subject, with contributions from several disciplinary perspectives by over 30 leading scholars and experienced practitioners. Collectively, they summarize and synthesize the existing body of knowledge – theory and evidence – pertaining to standards and innovation, and provide insights into how this knowledge can be useful to scholars, industrial strategists, policy-makers and standards practitioners.
New Leading Firms from Emerging Countries
Edited by Franco Malerba, Sunil Mani and Pamela Adams
In recent years many new international market leaders from the BRICS countries have emerged in several manufacturing and service industries. This important study answers a number of crucial questions including, how did these companies rise up to become important players in their respective industries? What is the contribution of systemic and country specific factors? What is the role of internal firm factors in enabling these companies to become market leaders? The book presents evidence from companies in the automotive, pharmaceutical and ICT industries of China, India and Brazil.
Technology Displaced by Financial Innovation
Capitalism has been sustained by inherited moral values that are now all but exhausted. A unique combination of a new belief in individualism and a long tradition of property rights had traditionally ensured that self-interested action also produced public benefit. However, these rights, including the laws underwriting economic and financial innovation and parliamentary democracy, were gradually captured and shaped by those who could benefit most from them. This fascinating book shows that the outcome is a reduced ability to generate real wealth combined with exceptional inequality, as well as a worldwide breach of the vital trust between voters and their representatives. Capitalism’s injuries are both self-inflicted and fatal.
Uber as Disruptive Innovation
While creative destruction and disruptive innovation change the entrepreneurial landscape; regulation – especially regulation of sectorial markets and competition regulation – can delay this change or even bring it to a halt. Uber plays an active role between these two forces: first as an agent of creative destruction and then possibly in championing regulation on its own terms. Grounded in a particular understanding of the economic concept of the market as a series of processes, this book explores the implications of creative destruction, competition regulation and the role that businesses play. Instead of discussing these relations in a purely abstract manner, this book uses Uber as a case study.
The Path to Development and Macroeconomic Stability in Korea
This book elaborates upon the dynamic changes to Korean firms and the economy from the perspective of catch-up theory. The central premise of the book is that a latecomer’s sustained catch-up is not possible by simply following the path of the forerunners but by creating a new path or ‘leapfrogging’. In this sense, the idea of catch-up distinguishes itself from traditional views that focus on the role of the market or the state in development.
University–Industry Interactions in the Global South
Edited by Eduardo Albuquerque, Wilson Suzigan, Glenda Kruss and Keun Lee
Interactions between firms and universities are key building blocks of innovation systems. This book focuses on those interactions in developing countries, presenting studies based on fresh empirical material prepared by research teams in 12 countries from three continents. The result is a more universal and dynamic view of the shaping and reshaping of interactions between firms and universities throughout different countries and phases of development. There are dimensions of those interactions that cannot be seen in the US, Europe or Japan. There are aspects and features of interactions that cannot be seen when we investigate Uganda, China or Mexico alone. In a time of increasing internationalization, interactions between firms and universities must be investigated tracking their international linkages. Professor Richard Nelson (Columbia University) writes in his preface: "The studies reported in this book are among the first to be directed to what is going on in developing countries".
Stan J. Liebowitz and Stephen E. Margolis
Since their first emergence in the work of Paul David thirty years ago, the dual issues of Path Dependence and Lock-In have become critically important subjects in the fields of economics, sociology, and business strategy. Theoretical and public policy debates on these issues have arisen, addressing whether markets consistently choose the best products. This research review presents each side of the debate, bringing together key publications that initiated this literature with the later works that criticize or defend many of the early claims. Both the theoretical and empirical foundations of Path Dependence and Lock-In are examined along with the role of network effects.