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| Tekijä: | Pol, E. Carroll, P. |
| Otsikko: | Reviving and assessing the Kuznets law on innovation |
| Lehti: | Economics of innovation and new technology
2004 : MAR, VOL. 13:2, p. 127-140 |
| Asiasana: | Innovation R&D Growth Models |
| Kieli: | eng |
| Tiivistelmä: | During the 20th century economists have begun to gain a deeper understanding (hereafter as: u-g.) of the nature of the economic change (here as: econ-chg.). E.g. Joseph A. Schumpeter argued that the first key step in u-g. econ-chg. is to think carefully about innovation. In particular, Kuznets (here as: K.) discovered what he argued was a second key step in u-g. econ-chg., namely: the analysis of sectors where innovation (here as: inn.) actually takes place. It is the contention of this paper that K.s' early empirical work on sectoral growth enables us to formulate an empirical law on inn. The paper is organized around a number of questions: What is the K. law on inn.? Has this law been ignored? What is the relationship btw. the K. law on inn. and the law of diminishing returns to innovative effort? What are the intrinsic limitations regarding the applicability of the K.s' law? The last part of the paper provides a summary and notes some limitations of the law. |
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