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Political aspects of innovation

  • Courvisanos, Jerry
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    "Political aspects" that enhance, but also undermine, the positive transformational power of public innovation policies are examined. As such, this paper follows Michal Kalecki in his 1943 paper that identifies the "political aspects" which enhance and undermine the positive transformational power of Keynesian full employment policies. Similarly, this paper provides a policy framework that identifies what government and business support as innovation policies. The role of innovation stems from Schumpeter's long-run perspective, but incorporates the more dynamic cyclical short-term and trend perspectives of Kalecki. This paper critiques the strategy of public innovation policy in general and derives policy implications.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0048-7333(09)00090-0
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    Article provided by Elsevier in its journal Research Policy.

    Volume (Year): 38 (2009)
    Issue (Month): 7 (September)
    Pages: 1117-1124

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    Handle: RePEc:eee:respol:v:38:y:2009:i:7:p:1117-1124
    Contact details of provider: Web page: http://www.elsevier.com/locate/respol

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    1. Roberto Fontana & Marco Guerzoni, 2008. "Incentives and uncertainty: an empirical analysis of the impact of demand on innovation," Cambridge Journal of Economics, Oxford University Press, vol. 32(6), pages 927-946, November.
    2. Victor Zarnowitz, 1984. "Recent Work on Business Cycles in Historical Perspective: Review of Theories and Evidence," NBER Working Papers 1503, National Bureau of Economic Research, Inc.
    3. Steven J. Davis & John Haltiwanger & Scott Schuh, 1993. "Small Business and Job Creation: Dissecting the Myth and Reassessing theFacts," NBER Working Papers 4492, National Bureau of Economic Research, Inc.
    4. Mariacristina Piva & Marco Vivarelli, 2007. "Is demand-pulled innovation equally important in different groups of firms?," Cambridge Journal of Economics, Oxford University Press, vol. 31(5), pages 691-710, September.
    5. Jan Kregel, 2008. "Using Minsky's Cushions of Safety to Analyze the Crisis in the U. S. Subprime Mortgage Market," International Journal of Political Economy, M.E. Sharpe, Inc., vol. 37(1), pages 3-23, April.
    6. Frey, Bruno S., 1978. "Politico-economic models and cycles," Journal of Public Economics, Elsevier, vol. 9(2), pages 203-220, April.
    7. Douglas Mair & Anthony Laramie, 2002. "Full Employment: Gift Horse or Trojan Horse?," Review of Social Economy, Taylor & Francis Journals, vol. 60(4), pages 567-593.
    8. Graham White, 1999. "Rethinking Kalecki on the Trend and Cycle," Review of Political Economy, Taylor & Francis Journals, vol. 11(3), pages 341-353.
    9. Gerald Silverberg & Bart Verspagen, 2003. "Breaking the waves: a Poisson regression approach to Schumpeterian clustering of basic innovations," Cambridge Journal of Economics, Oxford University Press, vol. 27(5), pages 671-693, September.
    10. Steindl, Josef, 1979. "Stagnation Theory and Stagnation Policy," Cambridge Journal of Economics, Oxford University Press, vol. 3(1), pages 1-14, March.
    11. Otto, Glenn & Voss, Graham M, 1994. "Public Capital and Private Sector Productivity," The Economic Record, The Economic Society of Australia, vol. 70(209), pages 121-32, June.
    12. repec:sae:ecolab:v:8:y:1997:i:1:p:78-89 is not listed on IDEAS
    13. Arora, Ashish & Arunachalam, V. S. & Asundi, Jai & Fernandes, Ronald, 2001. "The Indian software services industry," Research Policy, Elsevier, vol. 30(8), pages 1267-1287, October.
    14. David Alan Aschauer, 2000. "Do states optimize? Public capital and economic growth," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 34(3), pages 343-363.
    15. Zarnowitz, Victor, 1985. "Recent Work on Business Cycles in Historical Perspective: A Review of Theories and Evidence," Journal of Economic Literature, American Economic Association, vol. 23(2), pages 523-80, June.
    16. Kleinknecht, Alfred & Verspagen, Bart, 1990. "Demand and innovation: Schmookler re-examined," Research Policy, Elsevier, vol. 19(4), pages 387-394, August.
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