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A Note On Schumpeterian Competition In The Creative Class And Innovation Policy

Author

Listed:
  • Amitrajeet A. BATABYAL

    (Department of Economics, Rochester Institute of Technology, 92 Lomb Memorial Drive, Rochester, NY 14623-5604, USA.)

  • Seung JICK YOO

    (Corresponding Author. Graduate School of International Service, Sookmyung Women's University, 100 Cheongpa-ro 47-gil, Yongsan-gu, Seoul, Republic of Korea.)

Abstract

We study innovation policy in a region in which the members of the creative class engage in Schumpeterian competition and thereby extend aspects of the recent analysis in Batabyal and Yoo (2017). Using the language of these researchers, the creative class is broadly composed of existing and candidate entrepreneurs. In contrast to these researchers, we suppose that R&D by candidate entrepreneurs does not generate any negative externalities. In this setting, we analyze the impact that taxes and subsidies on R&D by existing and candidate entrepreneurs have on R&D expenditures and regional economic growth.

Suggested Citation

  • Amitrajeet A. BATABYAL & Seung JICK YOO, 2018. "A Note On Schumpeterian Competition In The Creative Class And Innovation Policy," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(3), pages 119-125, December.
    • Handle: RePEc:hrs:journl:v:x:y:2018:i:3:p:119-125
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    References listed on IDEAS

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    1. Batabyal, Amitrajeet A. & Yoo, Seung Jick, 2018. "Schumpeterian creative class competition, innovation policy, and regional economic growth," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 86-97.
    2. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
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    Cited by:

    1. Luca VOTA, 2022. "Employment Impact Of Firms' Innovation: What Is The Role Of Regional Institutions? Evidence From Italy," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 11-24, June.
    2. Vita HAVRYLIUK & Andrii HROMYK & Ivan SEMENETS & Tetiana PYLYPIUK & Rostislav MOTSYK & Anna KOSTYAKOVA, 2021. "Digitalization Of Territorial And Economic Systems At The Regional Level," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 209-226, June.

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    More about this item

    Keywords

    Creative Class; Creative Destruction; Economic Growth; Innovation Policy; R&D;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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