Liberal economists have developed a framework of good governance as market-enhancing governance, focusing on governance capabilities that reduce transaction costs and enable markets to work more efficiently. In contrast, heterodox economists have stressed the role of growth-enhancing governance, which focuses on governance capacities to overcome entrenched market failures in allocating assets, ...

This paper explores the way in which academics address role of innovation spaces development circular economy. Considering their characteristics, objectives, and functioning, we assume that can be favorable environments for eco-innovations facilitating implementation economy strategies. To examine this hypothesis, mobilizes a mixed research method based on bibliometric analysis keywords content...

In this paper a formal model of the productivity dynamics of manufacturing industries is developed with key features being the absence of optimal decisions and equilibrium coordination, heterogeneity of industries with respect to their innovative ability and cumulativeness of innovations together with the working of spillover effects. From that model the law of motion of the productivity distri...

Leapfrogging innovation competition through the process of creative destruction encourages the innovation in product and process that lengthens and improves lives. Schumpeter’s process of creative destruction emphasizes dynamic innovation competition, as contrasted with the standard model of static price competition. The ‘big-is-better’ account of creative destruction claimed, in addition, that...

This paper provides data on the output and factor payments of new goods for every 4-digit industry in the U.S. manufacturing sector in the late 1970s and 1980s. For the entire manufacturing sector, the new goods’ average skilled-labor intensity exceeds the old goods’ by over 40%, and new goods can account for about 30% of the increase in the relative demand for skilled labor. Since new goods pr...

This paper revisits the important ideas proposed by Atkinson and Stiglitz’s seminal 1969 paper on technological change. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological change literature, it explains how these three complementary but different approaches are useful in the study of a range of current research areas– though the...

The budgetary implications of an aging population in the OECD are often considered dire. This study argues that this need not be the case provided that older educated workers are more innovative than their younger counterparts, and that workers with tertiary education stay in the labor force until their 60s. Using a panel of 21 OECD countries over the period 1870-2009, this paper estimates the ...

This paper analyses the dynamics of return to knowledge where knowledge is acquired through the combination of interactive and individual learning. We suggest that in light of this new definition of knowledge, choosing the optimal level of education is no longer an individual exercise of present and future utility maximisation as suggested by more formal human capital theory (Becker, 1964). In ...

Choosing the right mentor is one of most important decisions in life any creative mind. This decision often paves way to several aspects an individual professional career and intellectual development. However, choice made unawares involuntarily, also because it taken by individuals initial stages their profession with still limited information. The fact that dictated available opportunities (e....