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  • Series: New Horizons in Institutional and Evolutionary Economics series x
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Åke E. Andersson and David Emanuel Andersson

In this chapter knowledge capital is seen as a specific combination of subsets of human and social capital, much as real estate capital combines physical and social capital. Knowledge capital is a key factor that drives economic growth and development. Knowledge is different from information; it is more complex and multifaceted, as it can be private or public. It can be embodied in machinery or tacit knowledge in humans, but dissemination processes cause its disembodiment. Scientific knowledge has become an increasingly important precondition for the emergence of investments in industrial research and development. The broad spectrum of new technologies in the pharmaceutical, biotechnological, information and transportation industries would have been unthinkable without earlier fundamental creativity in mathematics, physics, chemistry and biology. Scientific breakthroughs almost always occur many decades before being exploited by entrepreneurial innovators. Rogers Hollingsworth has shown that the increasing complexity of many products and production systems requires a reorganization of scientific research with a greater emphasis on multidisciplinary departments and laboratories. The possibility of exploiting advantages of a diversified scientific knowledge base also points toward increasing dynamic comparative advantages of locating universities and research institutes in large cities. Quantitative analyses of science networks show that the San Francisco Bay Area, Boston, London, Tokyo, Paris and Randstad (Amsterdam) are the most important nodes in the world of science, with Beijing, Seoul and Shanghai exhibiting the highest growth rates in science output among large cities. The advantages of dynamic interactions between scientific creativity and industrial development will reinforce the long-term sustainable growth in regions that host large-scale agglomerations of scientific research.

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Åke E. Andersson and David Emanuel Andersson

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Åke E. Andersson and David Emanuel Andersson

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National Competitiveness and Economic Growth

The Changing Determinants of Economic Performance in the World Economy

Timo J. Hämäläinen

The current paradigm shift in the world economy is challenging the traditional competitiveness and growth theories with their few explanatory variables. This book offers a more holistic framework to synthesise the key findings of the various branches of competitiveness and growth research. The author illustrates this framework with a new long wave theory of socio-economic development. This theory emphasises the competitiveness and growth benefits of rapid structural adjustment in the rapidly changing techno-economic environment. Based on thorough analysis the author argues that both markets and governments have become less efficient due to the current transformation of the world economy. His empirical data from 22 OECD countries in the 1980s and 1990s illustrates that efficiency and growth-oriented governments have significantly contributed to their countries’ economic success.
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Introduction

Markets, Networks and Hierarchies

Emmanuel Lazega and Olivier Favereau

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Conventionalist approaches to enterprise

Markets, Networks and Hierarchies

François Eymard-Duvernay

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Didier Chabaud and Stéphane Saussier

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Organizational ecology

Markets, Networks and Hierarchies

David N. Barron