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Principles of Neo-Schumpeterian Economics


  • Horst Hanusch
  • Andreas Pyka


Within the last 25 years great progress has been made in Neo-Schumpeterian Economics, this branch of economic literature which deals with dynamic processes causing qualitative transformation of economies basically driven by the introduction of novelties in their various and multifaceted forms. By its very nature, innovation and, in particular, technological innovation is the most exponent and most visible form of novelty. However, Neo-Schumpeterian Economics should be concerned with all facets of open and uncertain developments in socio-economic systems. A comprehensive Neo-Schumpeterian approach therefore has to consider not only transformation processes going on, e.g., on the industry level of an economy, but also on the public and monetary side of an economic system. Our contribution introduces those extensions and complements to a comprehensive Neo-Schumpeterian economic theory, and develops some signposts in the sense of a roadmap for necessary strands of analysis in the future. Copyright 2007, Oxford University Press.

Suggested Citation

  • Horst Hanusch & Andreas Pyka, 2007. "Principles of Neo-Schumpeterian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 31(2), pages 275-289, March.
  • Handle: RePEc:oup:cambje:v:31:y:2007:i:2:p:275-289

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    References listed on IDEAS

    1. Malerba, Franco, 2002. "Sectoral systems of innovation and production," Research Policy, Elsevier, vol. 31(2), pages 247-264, February.
    2. Horst Hanusch (ed.), 1999. "The Legacy of Joseph A. Schumpeter," Books, Edward Elgar Publishing, volume 0, number 1182.
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    5. Thomas Grebel & Andreas Pyka & Horst Hanusch, 2004. "An evolutionary approach to the theory of entrepreneurship," Chapters,in: Applied Evolutionary Economics and Complex Systems, chapter 7 Edward Elgar Publishing.
    6. Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-181.
    7. Franco Malerba, 2005. "Sectoral systems of innovation: a framework for linking innovation to the knowledge base, structure and dynamics of sectors," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 14(1-2), pages 63-82.
    8. Amendola, Mario & Gaffard, Jean-Luc, 1998. "Out of Equilibrium," OUP Catalogue, Oxford University Press, number 9780198293804, June.
    9. Andreas Pyka & Horst Hanusch (ed.), 2006. "Applied Evolutionary Economics and the Knowledge-based Economy," Books, Edward Elgar Publishing, number 3486.
    10. Kurt Dopfer & John Foster & Jason Potts, 2004. "Micro-meso-macro," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 263-279, July.
    11. Utterback, James M & Abernathy, William J, 1975. "A dynamic model of process and product innovation," Omega, Elsevier, vol. 3(6), pages 639-656, December.
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    13. Koen Frenken, 2006. "Technological innovation and complexity theory," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(2), pages 137-155.
    14. Pier Saviotti & Andreas Pyka, 2004. "Economic development by the creation of new sectors," Journal of Evolutionary Economics, Springer, vol. 14(1), pages 1-35, January.
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    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • P0 - Economic Systems - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary


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