Found 300 article(s) in category 'Innovation'

Innovation and Business Growth

Innovation and Business Growth. William Kerr, March 22, 2016, Book Chapter. “Innovation and the pursuit of new business opportunities is essential for growth at the firm level; moreover, it provides the foundation for an economy to achieve new levels of technological prowess, productivity and, ultimately, prosperity. This chapter describes recent work in economics and management scholarship on how firms grow. Given the other contributions in this conference volume, we focus specifically on questions surrounding the types of innovations that large and small firms pursue and how it impacts their relative growth rates. Developing evidence suggests that as firms become larger they have trouble maintaining the external innovations that are most powerful for growth, instead focusing increasingly on internal work and enhancements.Link

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Regional Variation in Venture Capital: Causes and Consequences

Regional Variation in Venture Capital: Causes and Consequences. Ramana Nanda, Matthew Rhodes-Kropf, March 22, 2016, Book Chapter. “Entrepreneurship is a central element of the Schumpeterian process of creative destruction (Schumpeter, 1942). Startups have been associated with the birth of important new industries such as semiconductors and computers, the internet and biotechnology, and there is increasing evidence of the important role that startup firms play in driving aggregate productivity growth in the economy (Aghion and Howitt, 1992; King and Levine, 1993; Foster et al., 2008).Link

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Silk-Road Type Projects: Lessons From Some Historical Examples

Silk-Road Type Projects: Lessons From Some Historical Examples. Robert Z. Lawrence, 2016, Book Chapter. “China’s Belt and Road Initiative is a project of truly historic proportions. If successful, it has the potential to deliver significant benefits to China and its neighbors. To realize this potential, both China and the recipient nations must overcome numerous institutional challenges. This chapter draws on a variety of historical experiences to explore the nature of these challenges. It does so not to argue that history will repeat itself or to imply that the project replicates the precise conditions of the examples chosen but to reflect on what history tells us about both the potential and pitfalls that have been associated with such endeavors in the past.Link

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Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China.

Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China. Josh Lerner, March 1, 2015, Paper, “Using a difference-in-difference approach, we study how intellectual property right (IPR) protection affects innovation in China in the years around the privatizations of state-owned enterprises (SOEs). Innovation increases after SOE privatizations, and this increase is larger in cities with strong IPR protection. Our results support theoretical arguments that IPR protection strengthens firms’ incentives to innovate and that private sector firms are more sensitive to IPR protection than SOEs.Link

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Education, Research, and Innovation in Africa

Education, Research, and Innovation in Africa. Calestous Juma, February 2016, Paper. “Africa is a youthful continent: nearly 41% of its population is under the age of 18. To address the unique challenges of this demographic structure, the African Union (AU) has adopted a 50-year Agenda 2063 to help guide the socioeconomic transformation of the continent with particular reference to the youth. One of the objectives of Agenda 2063 is to reposition the continent as a strategic player in the global economy through improved education and application of science and technology in development. The AU’s Science, Technology and Innovation Strategy for Africa, 2024 (STISA-2024) provides an intial 10-year framework for pursuing this goal.Link

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Owning, Using and Renting: Some Simple Economics of the “Sharing Economy”

Owning, Using and Renting: Some Simple Economics of the “Sharing Economy”. Richard Zeckhauser, February 2016, Paper. “New Internet-based markets enable consumer/owners to rent out their durable goods when not using them. Such markets are modeled to determine ownership, rental rates, quantities, and surplus generated. Both the short run, before consumers can revise their ownership decisions, and the long run, in which they can, are examined to assess how these markets change ownership and consumption. The analysis examines bringing-to-market costs, such as labor costs and transaction costs, and considers the operating platform’s pricing problem. A survey of consumers broadly supports the modeling assumptions employed. For example, ownership is determined by individuals’ forward-looking assessments of planned usage.Link

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BUYING TIME: The Science of Happier Spending

BUYING TIME: The Science of Happier Spending. Michael I. Norton, Winter 2016, Paper. “MANY OF US WISH WE HAD MORE FREE TIME to do what we love — whether it be working out, reading or playing guitar. In theory, it is possible to use the money we earn to ‘buy’ more of this kind of time; but research suggests that even when we can afford to do so, we are not spending our time in more enjoyable ways on a regular basis.Link

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The ICT Revolution, World Economic Growth, and Policy Issues

The ICT Revolution, World Economic Growth, and Policy Issues. Dale Jorgenson, February 1, 2016, Paper. “The ICT revolution fueled by the exponential progress of the semiconductor technology and the accelerated pace of globalization has become an important driver of economic growth across nations. In this rapidly changing landscape, the world economy is entering into a New Economic Order, in which developing Asia led by two fast-growing giant economies, China and India, will have much larger impacts on the world economy. This paper provides empirical evidence on these phenomena and highlights policy issues that deem important for a country to seize the ICT revolution for promoting economic growth.Link

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Peer-to-Peer Rental Markets: Some Thoughts on the “Sharing Economy”

Peer-to-Peer Rental Markets: Some Thoughts on the “Sharing Economy.” Richard Zeckhauser, January 21, 2016, Paper. “Recent technological advances and entrepreneurial efforts have created a number of new peer-to-peer rental markets in which owners can rent out their durable goods. We consider the emergence of such a market and determine the market clearing rental rate, the patterns of trade and the surplus unlocked for different types of consumers. Our analysis considers both a short-run, before consumers can revise their ownership decisions and a long-run, in which they can. A survey of consumers finds broad support for the modeling conventions used—namely that ownership is determined by a forward-looking evaluation of planned usage. We also explore the factors that are permitting these new markets to flourish …Link

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The Impact of Information Technology on Postwar US Economic Growth

The Impact of Information Technology on Postwar US Economic Growth. Dale Jorgenson, November 28, 2015, Paper. “We provide detailed information on the crucial role of information technology in the postwar growth of the U.S. economy, from the development of the telecommunications services and the telecommunications equipment industries through the successful commercialization of semiconductor technology and the ongoing shift to cloud-based IT services. Our industry-level data set reveals that productivity gains over the postwar period originated disproportionally in industries that produce IT, but the replication of established technologies through growth of capital and labor inputs explains by far the largest proportion of U.S. economic growth. We find that the substantial growth deceleration during the Great Recession was driven by modestly negative aggregate productivity growth, but that only a minor portion of the drop in the growth rate was due to the IT-producing industries.Link

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