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Innovation Economy, Productive Public Expenditures and Economic Growth

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Author Info

  • Oscar Afonso

    ()
    (Universidade do Porto - CEFUP)

  • Sara Monteiro

    (Nice Sophia Antipolis University - CEMAFI)

  • Maria Thompson

    ()
    (University of Minho - NIPE)

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    Abstract

    Innovation 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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    File URL: http://www3.eeg.uminho.pt/economia/nipe/docs/2012/NIPE_WP_13_2012.pdf
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    Bibliographic Info

    Paper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 13/2012.

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    Date of creation: 2012
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    Handle: RePEc:nip:nipewp:13/2012

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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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    Related research

    Keywords: Innovation Economy; Consumers; Quadruple Helix; Productive Public Expenditures; Economic Growth;

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    1. 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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