Macro innovation dynamics and the golden age : new insights into Schumpeterian dynamics, inequality and economic growth / Paul J.J. Welfens.
Welfens, Paul J. J., author.
2017
HC79.T4
Available Online

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Title Macro innovation dynamics and the golden age : new insights into Schumpeterian dynamics, inequality and economic growth / Paul J.J. Welfens.
Author Welfens, Paul J. J., author.
ISBN 9783319503677 (electronic book)
3319503677 (electronic book)
9783319503660
DOI https://doi.org/10.1007/978-3-319-50367-7
Published Cham, Switzerland : Springer Science and Business Media : Springer, [2017]
Language English
Description 1 online resource (xvii, 148 pages) : illustrations.
Other Standard Identifiers 10.1007/978-3-319-50367-7 doi
Call Number HC79.T4
Dewey Decimal Classification 338.064
Summary 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.
Bibliography, etc. Note Includes bibliographical references.
Access Note Access limited to authorized users.
Digital File Characteristics text file PDF
Source of Description Online resource; title from PDF title page (viewed February 24, 2017).
Available in Other Form Print version: 9783319503660
Linked Resources Online Access
Record Appears in Online Resources > Ebooks
All Resources
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.

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