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A Schumpeterian Model of Endogenous Innovation and Growth

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  • Englmann, F C

Abstract

A disequilibrium model of endogenous innovation and growth is presented. The behaviour of the agents is supposed to be governed by routines, not by maximization. The entrepreneurs are assumed to invest a fraction of their operating profits in real capital accumulation, and another fraction in R&D. The latter leads to an increase in labour productivity via a R&D production function. In this "Schumpeterian" model, not only the R&D processes of innovations are considered, but the diffusion processes as well. As in Schumpeter's theory of economic development, the economic impact of technical change is considered a disequilibrium phenomenon. Thus, in a capitalist economy characterized by ongoing diffusion processes of innovations, time averages are more important than steady state values even in a long run perspective.

Suggested Citation

  • Englmann, F C, 1994. "A Schumpeterian Model of Endogenous Innovation and Growth," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 227-241, September.
    • Handle: RePEc:spr:joevec:v:4:y:1994:i:3:p:227-41
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    Citations

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    Cited by:

    1. Agnieszka Gehringer, 2011. "Pecuniary knowledge externalities and innovation: intersectoral linkages and their effects beyond technological spillovers," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 20(5), pages 495-515.
    2. Danilo Spinola, 2021. "The La Marca model revisited: Structuralist goodwin cycles with evolutionary supply side and balance of payments constraints," Metroeconomica, Wiley Blackwell, vol. 72(1), pages 189-212, February.
    3. Donato Masciandaro & Raffaella Barone, 2023. "Environmental Crime Revenues, Corruption And Money Laundering: The Role Of The Real-Estate," BAFFI CAREFIN Working Papers 23211, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Spinola, Danilo, 2020. "Uneven development and the balance of payments constrained model: Terms of trade, economic cycles, and productivity catching-up," Structural Change and Economic Dynamics, Elsevier, vol. 54(C), pages 220-232.
    5. Raffaella Barone & Donato Masciandaro & Friedrich Schneider, 2022. "Corruption and money laundering: You scratch my back, i’ll scratch yours," Metroeconomica, Wiley Blackwell, vol. 73(1), pages 318-342, February.
    6. repec:got:cegedp:100 is not listed on IDEAS
    7. Silverberg, Gerald, 1997. "Evolutionary modeling in economics : recent history and immediate prospects," Research Memorandum 008, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    8. Witold Kwasnicki, 2002. "Evolutionary models’ comparative analysis. Methodology proposition based on selected neo-schumpeterian models of industrial dynamics," Microeconomics 0203002, University Library of Munich, Germany.
    9. Marwil J. Dávila-Fernández, 2020. "Alternative approaches to technological change in a small open economy," Journal of Evolutionary Economics, Springer, vol. 30(2), pages 279-317, April.
    10. Mantas Markauskas & Asta Baliute, 2021. "Technological progress spillover effect in Lithuanian manufacturing industry," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(4), pages 783-806, December.

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