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Macro innovation dynamics and the go...

Welfens, Paul J. J.

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Macro innovation dynamics and the golden age = new insights into Schumpeterian dynamics, inequality and economic growth /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Macro innovation dynamics and the golden age/ by Paul J. J. Welfens.
Reminder of title:	new insights into Schumpeterian dynamics, inequality and economic growth /
Author:	Welfens, Paul J. J.
Published:	Cham :Springer International Publishing : : 2017.,
Description:	xvii, 148 p. :ill., digital ;24 cm.
[NT 15003449]:	Green Innovations and CO2 in a Growth Perspective: A Neoclassical Model -- Innovation, Inequality and a Golden Rule for Growth in an Economy with R&D -- Technological Progress, Output Elasticity, FDI and Growth Cycles -- Product Innovations in a Schumpeterian Mundell-Fleming Model -- Schumpeterian Macroeconomic Production Function for Open Economies.
Contained By:	Springer eBooks
Subject:	Technological innovations. -
Online resource:	http://dx.doi.org/10.1007/978-3-319-50367-7
ISBN:	9783319503677

Macro innovation dynamics and the golden age = new insights into Schumpeterian dynamics, inequality and economic growth /
Welfens, Paul J. J.

Macro innovation dynamics and the golden agenew insights into Schumpeterian dynamics, inequality and economic growth /[electronic resource] :by Paul J. J. Welfens. - Cham :Springer International Publishing :2017. - xvii, 148 p. :ill., digital ;24 cm.

Green Innovations and CO2 in a Growth Perspective: A Neoclassical Model -- Innovation, Inequality and a Golden Rule for Growth in an Economy with R&D -- Technological Progress, Output Elasticity, FDI and Growth Cycles -- Product Innovations in a Schumpeterian Mundell-Fleming Model -- Schumpeterian Macroeconomic Production Function for Open Economies.

This book takes a new look at the golden age in neoclassical growth theory and explores in detail sustainability and optimum growth in China, the US and Europe. Innovation, foreign direct investment, trade and growth dynamics are key elements in modern economies - including perspectives on green growth and aspects of the knowledge production function in the context of multinational companies. As such the book considers the role of foreign direct investment in a modified growth model and discusses innovation in an enhanced Mundell-Fleming macro model. Moreover, for the first time it directly links a knowledge production function to the macro production function in a broader context, including real money balances in the production function. It shows - also with empirical relevance - that FDI inward stocks relative to the GDP of host countries, the number of researchers and per capita income are relevant drivers of new knowledge and the stock of knowledge, respectively. This new Schumpeterian theoretical approach lends itself to important policy conclusions for both OECD members and newly industrialized countries.

ISBN: 9783319503677

Standard No.: 10.1007/978-3-319-50367-7doiSubjects--Topical Terms:

544774
Technological innovations.

LC Class. No.: HC79.T4 / W45 2017

Dewey Class. No.: 338.064

Macro innovation dynamics and the golden age = new insights into Schumpeterian dynamics, inequality and economic growth /
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245 1 0 $a Macro innovation dynamics and the golden age $h [electronic resource] : $b new insights into Schumpeterian dynamics, inequality and economic growth / $c by Paul J. J. Welfens.
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505 0 $a Green Innovations and CO2 in a Growth Perspective: A Neoclassical Model -- Innovation, Inequality and a Golden Rule for Growth in an Economy with R&D -- Technological Progress, Output Elasticity, FDI and Growth Cycles -- Product Innovations in a Schumpeterian Mundell-Fleming Model -- Schumpeterian Macroeconomic Production Function for Open Economies.
520 $a This book takes a new look at the golden age in neoclassical growth theory and explores in detail sustainability and optimum growth in China, the US and Europe. Innovation, foreign direct investment, trade and growth dynamics are key elements in modern economies - including perspectives on green growth and aspects of the knowledge production function in the context of multinational companies. As such the book considers the role of foreign direct investment in a modified growth model and discusses innovation in an enhanced Mundell-Fleming macro model. Moreover, for the first time it directly links a knowledge production function to the macro production function in a broader context, including real money balances in the production function. It shows - also with empirical relevance - that FDI inward stocks relative to the GDP of host countries, the number of researchers and per capita income are relevant drivers of new knowledge and the stock of knowledge, respectively. This new Schumpeterian theoretical approach lends itself to important policy conclusions for both OECD members and newly industrialized countries.
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