Innovation Economy, Productive Public Expenditures and Economic Growth
AbstractInnovation is the main engine of growth in an increasing number of economies. Innovation economies are, according to the Quadruple Helix (QH) Innovation Theory, sustained by four pilars – Firms, Academia, Government and Consumers –, all operating in a systemic, interactive environment. We provide a model that gives analytical body to the QH theory and links formally innovation to economic growth. We aim to emphasise the equally important roles of the four helices sustaining an innovation economy and its long run growth. In particular, given the downwards pressure on Government expenditures, we analyse the effects of an increase in public expenditures on economic growth, which we find positive in the short, medium and long-run.
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Bibliographic InfoPaper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 13/2012.
Date of creation: 2012
Date of revision:
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Postal: Núcleo de Investigação em Políticas Económicas, Escola de Economia e Gestão, Universidade do Minho, P-4710-057 Braga, Portugal
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Find related papers by JEL classification:
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-07 (All new papers)
- NEP-FDG-2013-01-07 (Financial Development & Growth)
- NEP-INO-2013-01-07 (Innovation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jan-Egbert Sturm & Gerard H. Kuper & Jakob de Haan,, 1996. "Modelling government investment and economic growth at the macro level: A review," Working Papers 29, Centre for Economic Research, University of Groningen and University of Twente.
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