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Knowledge creation, entrepreneurship, and economic growth: a historical review

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  • Bo Carlsson
  • Zoltan J. Acs
  • David B. Audretsch
  • Pontus Braunerhjelm

Abstract

This article explores the relationship between knowledge creation, entrepreneurship, and economic growth in the United States over the last 150 years. Distinguishing between general knowledge and economically useful knowledge, we examine the changes over time in the locus and content of new knowledge creation: the role of universities, particularly engineering schools and land-grant universities, industrial laboratories, and corporate research and development (R&D) laboratories prior to World War II. The practical orientation of US academic R&D and the close research interaction between academia and industry are noted. We study the unprecedented increase in R&D spending in the United States during and after World War II and how it was converted into economic activity via incumbent firms in the early postwar period and increasingly via new ventures in the last few decades. Copyright 2009 The Author 2009. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Industrial and Corporate Change.

Volume (Year): 18 (2009)
Issue (Month): 6 (December)
Pages: 1193-1229

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Handle: RePEc:oup:indcch:v:18:y:2009:i:6:p:1193-1229

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Cited by:
  1. Block, J.H. & Thurik, A.R. & Zhou, H., 2009. "What Turns Knowledge into Innovative Products? The Role of Entrepreneurship and Knowledge Spillovers," ERIM Report Series Research in Management ERS-2009-049-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
  2. Pontus Braunerhjelm & Zoltan Acs & David Audretsch & Bo Carlsson, 2010. "The missing link: knowledge diffusion and entrepreneurship in endogenous growth," Small Business Economics, Springer, vol. 34(2), pages 105-125, February.
  3. Carlsson, Bo & Braunerhjelm, Pontus & McKelvey, Maureen & Olofsson , Christer & Persson , Lars & Ylinenpää, Håkan, 2012. "The Evolving Domain of Entrepreneurship Research," Working Paper Series in Economics and Institutions of Innovation 284, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  4. Henrekson, Magnus, 2014. "Entrepreneurship, Innovation and Human Flourishing," Working Paper Series 999, Research Institute of Industrial Economics, revised 15 Jan 2014.
  5. Marchese, Carla & Marsiglio, Simone & Privileggi, Fabio & Ramello, Giovanni, 2014. "Endogenous Recombinant Growth through Market Production of Knowledge and Intellectual Property Rights," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201413, University of Turin.
  6. Braunerhjelm, Pontus, 2010. "Entrepreneurship, Innovation and Economic Growth – Past experiences, current knowledge and policy implications," Working Papers 2010:2, Swedish Entrepreneurship Forum.
  7. Frank Lasch & Frank Robert & Frédéric Roy, 2013. "Regional determinants of ICT new firm formation," Small Business Economics, Springer, vol. 40(3), pages 671-686, April.
  8. Marco Vivarelli, 2013. "Is entrepreneurship necessarily good? Microeconomic evidence from developed and developing countries," Industrial and Corporate Change, Oxford University Press, vol. 22(6), pages 1453-1495, December.

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