Schumpeterian growth theory has “operationalized” Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process which could not be properly addressed by alternative theories. In this survey, we focus...

Recent empirical evidence strongly supports Jacobs’ (1969) externality hypothesis, that urban diversity provides a more favorable environment for economic development. In order to correctly gauge Jacobs’ hypothesis, economic development should be understood as a result of innovations....

An empirical method to identify the existence of a spatial cluster is proposed. The method, based upon regression analysis, offers researchers to categorise regions, municipalities, or cities with respect to their over- or under-representation in number of establishments and employment for any...

In recent decades the world has witnessed the emergence of a global knowledge economy. For example, the evolution in recent decades of the developed economies has been accompanied by a regional shift in economic activity away from traditional industrial regions to new agglomerations of high...

The entrepreneur is an elusive character in economic theory due to the difficulty of providing an accurate description. It appears impossible to produce a single definition of entrepreneurship and most theoretical approaches yield operational difficulties. By the same token, most operational...

This paper rigorously explores the impact of firm’s collaboration with universities on innovation. Specifically, using a representative dataset of manufacturing and service firms we have applied recent matching techniques to examine the hypotheses that whether academic knowledge has a positive...

This paper investigates the effectiveness of a public innovation policy aimed at stimulating private R&D investment. The research will examine whether public funding increases the total spending on research or merely displaces funding from private sources. The empirical analysis is based on the...

One of the claims of this paper is that three Austro-Swedish schools of economics provided much of the foundations for almost all of economic analysis developed after the second world war. Important representatives of the first school are Böhm-Bawerk and Wicksell, Schumpeter and Hayek of the...

Knowledge is maintained as a core variable for growth in a large set of contemporary theories. In this paper, we analyze the relationship between knowledge accessibility and regional growth. The knowledge resource used in our model R&D conducted at universities and in companies. A precise...

This paper discusses and models the potential of FDI inflows to affect host country economic growth. The paper argues that FDI should have a positive effect on economic growth as a result of technology spillovers and physical capital inflows. Performing both cross-section and panel data analysis...