Description
Book SynopsisThis judicious selection of recent essays demonstrates the applicability of the fundamental principles of neo-Schumpeterian economics, namely, innovation and uncertainty. The authors demonstrate how neo-Schumpeterian economics is developing into a comprehensive economic theory encompassing industry, the public sector and financial markets.
Neo-Schumpeterian economics has become a prolific field with a major orientation towards innovation-driven industrial dynamics. However, a truly comprehensive neo-Schumpeterian approach argues that innovation is also an important element in both the public and financial sectors. For example, a lack of public infrastructure or speculative bubbles in financial markets can hinder or even prevent economic development. The expert contributions to this book deal with the future orientation of the subject in terms of innovative performance in the industrial, financial and public sectors. Recent Advances in Neo-Schumpeterian Economics can be considered a first attempt to substantiate the comprehensive neo-Schumpeterian approach, of which Horst Hanusch has been a leading proponent.
This unique and path-breaking book will be of great interest and value to researchers in the fields of innovation, industrial economics, financial markets and the public sector.
Table of ContentsContents: Introduction Uwe Cantner, Alfred Greiner, Thomas Kuhn and Andreas Pyka PART I: INDUSTRY AND INNOVATION 1. Competition in Innovation Uwe Cantner 2. Energy, Development and the Environment: An Appraisal Three Decades After the ‘Limits to Growth’ Debate Giovanni Dosi and Marco Grazzi 3. Marshall and Schumpeter: Evolution and the Institutions of Capitalism Stanley Metcalfe PART II: FINANCE IN MODERN ECONOMICS 4. The Co-evolution of Technologies and Financial Institutions Pier Paolo Saviotti and Andreas Pyka 5. The Role of Information and Risk Sharing for R&D Investment, Technological Change and Economic Welfare Burkhard Drees and Bernhard Eckwert 6. Bubbles, Crashes and the Psycho-Economic Forces Behind Them Friedrich Kugler 7. Corporate Currency Hedging and Currency Crises Andreas Röthig, Willi Semmler and Peter Flaschel PART III: THE PUBLIC SECTOR AND THE FUTURE OF THE WELFATE STATE 8. Public Debt and Public Spending in Germany: The Last 40 Years Alfred Greiner and Norbert Schütt 9. Biofuels, Innovations and Endogenous Growth Thomas Kuhn and Michael Pickhardt 10. Paretian Welfare Theory and European Competition Policy Arnold Heertje 11. French Industrial Policy Alain Alcouffe and Christiane Alcouffe Index
