Innovation and Economic Growth

Abstract

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Ecological Innovations in Agricultural Production as a Pro-Development Factor of the Economy

“…This situation required a better explanation of this factor. As a result, economists proposed a whole group of endogenous models, in which the assumptions about the occurrence of permanent economies of scale were revoked and the importance of knowledge in the form of human, financial, technological or public capital was included (Uppenberg, 2009;Agenor and Neanidis, 2015). In these processes, the effect of diffusion was taken into account, undermining the possibility of rapid convergence of economic systems, pointing to rather clear difficulties in the process of "catching up" and overcoming structural weaknesses.…”

A multivariate approach in measuring innovation performance

“…The shortcomings of the neoclassical growth model encouraged economists to approach the issue of economic growth from a different perspective. In particular, the limitation of neoclassical growth model is that it cannot theoretically explain the essential driving-force of economic growth, the growth which is accelerated by an exogenous expansion of the knowledge stock (Uppenberg, 2009). The response to this comes with the endogenous growth model called the "AK-models".…”

Business R&D Expenditure and Capital in Europe

“…The growth-accounting literature documents that the contribution to labour productivity growth of total factor productivity (TFP) is indeed large (see Uppenberg 2009a). TFP is a summary index of the overall efficiency with which capital and labour are combined in producing output and, hence TFP growth measures the gains in this efficiency.…”

“…The economic literature has long recognized the importance of innovation and its organized production in the form of research and development (R&D) in fostering productivity (Arrow 1962;Griliches 1979;Romer 1990;Grossman and Helpman 1991; for an overview see Uppenberg 2009a, in this issue). One specific feature of knowledge is that it has public-good characteristics: non-excludability and nonexhaustibility.…”