Microfoundations of Economic Growth: A Schumpeterian Perspective

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The contributors to this volume seek further understanding of the microfoundations of economic growth. It focuses on three subjects that interested the great Austrian and Harvard economist, Joseph A. Schumpeter: innovation, technological change, and economic growth.

The first part of the volume treats institutions, markets, and entrepreneurs, without which analysis of the firm makes little or no sense. The second part focuses on the firm as innovator, placing heavy emphasis on ...

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Ann Arbor, MI 1998 Hard cover Printed in the United States. DJ torn at top of spine. Otherwise almost as issued, with square corners, tight binding, clean text and minimal shelf ... wear. Sewn binding. Cloth over boards. 443 p. Contains: Illustrations. International Schumpeter Society Series. Includes bibliographical references and index. Audience: General/trade. Selected papers from the sixth biennial conference of the International Schumpeter Society, held in Stockholm, June 3-5, 1996. Read more Show Less

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Ann Arbor, MI 1998 Hard cover Printed in the United States. Fine in fine dust jacket. Almost as issued, with square corners, tight binding, clean text and minimal shelf wear. ... Sewn binding. Cloth over boards. 443 p. Contains: Illustrations. International Schumpeter Society Series. Includes bibliographical references and index. Audience: General/trade. Selected papers from the sixth biennial conference of the International Schumpeter Society, held in Stockholm, June 3-5, 1996. Read more Show Less

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Overview


The contributors to this volume seek further understanding of the microfoundations of economic growth. It focuses on three subjects that interested the great Austrian and Harvard economist, Joseph A. Schumpeter: innovation, technological change, and economic growth.

The first part of the volume treats institutions, markets, and entrepreneurs, without which analysis of the firm makes little or no sense. The second part focuses on the firm as innovator, placing heavy emphasis on the role of knowledge formation. The subjects of innovation and knowledge formation are approached from three perspectives: theoretical; industry (case) studies; and empirical (cross section and panel data) analysis. In the third part of the book the action moves from the firm to the "macro" or economy-wide level.

The volume's unique feature is combining institutions, the innovative behavior of firms, and an intuitively dynamic, macroeconomic analysis, all from a Schumpeterian perspective. It is argued that the study of micro-institutions such as firms and the evolving nature of markets are necessary ingredients to understanding macro-oriented phenomena such as economic growth. It is in this sense, then, that the book is concerned with microfoundations.

Contributors are Daniele Archibugi, Spyros Arvanitis, David B. Audretsch, John R. Baldwin, Gerard Ballot, Pontus Braunerhjelm, Dagobert L. Brito, Uwe Cantner, Bo Carlsson, Robert W. Clower, Richard Day, Rinaldo Evangelista, Jan Glete, Horst Hanusch, Heinz Hollenstein, Michael D. Intrilgator, George Johnson, Joanne Johnson, Aija Leiponen, Staffan Laestadius, Richard N. Langlois, Frank M. Machovec, Maureen McKelvey, Valentina Meiciani, Douglass C. North, Giulio Perani, Andreas Pyka, Fabio Rapiti, Roberto Simonetti, Frank Stafford, Paula E. Stephan, Erol Taymaz, Clas Wihlborg, Erica R. Worth, and S. Y. Wu.

Gunnar K. Eliasson is Professor of Industrial Economics, Royal Technical Institute (KTH), Stockholm. Christopher Green is Professor of Economics, McGill University. Charles R. McCann, Jr., is Research Associate, Department of Economics, University of Pittsburgh.

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Table of Contents

Acknowledgments
Introduction 1
Institutions, Organizations, and Market Competition 15
Paradigm Lost: The Walrasian Destruction of the Classical Conception of the Market 29
Schumpeter and Personal Capitalism 57
Entrepreneurs and Social Elites: Some Reflections on the Case of Sweden 83
A Discourse on a Model of the Entrepreneur-Centered Economy 94
Economic Efficiency with Enabling and Mandatory Law 109
Bounded Rationality and Firm Performance in the Experimental Economy 119
Routinized Innovations: Dynamic Capabilities in a Simulation Study 131
Innovation and Knowledge Spillovers: A Systems cum Evolutionary Perspective 156
Knowledge Sources in Biotechnology through the Schumpeterian Lens 169
R&D as Premarket Selection: Managing Uncertainty in Genetic Engineering and Broadband 188
Technology Level, Knowledge Formation, and Industrial Competence in Paper Manufacturing 212
Innovator Typologies, Related Competencies, and Performance 227
Competencies, Innovation, and Profitability of Firms 254
Firm Performance, Innovation, and Technological Spillovers: A Cross-Section Analysis with Swiss Firm Data 271
Relevance, Nature, and the Outcome of Innovation Activities: Evidence from the Italian Innovation Survey 285
Human Capital, Technological Lock-in, and Evolutionary Dynamics 301
Specialization in Areas of Strong Technological Opportunity and Economic Growth 331
Technology Regimes and the Distribution of Real Wages 348
Corporate Restructuring, Technological Change, and the Distribution of Labor Income 369
Intangible, Human-Embodied Capital and Firm Performance 389
New Microfoundations for the Theory of Economic Growth? 409
Contributors 425
Index 427
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