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Necessity of Openness to Stimulate Innovation: An Investigation into Causes of Slow Innovation

In: Education, Human Capital Investment, and Innovation in the Contemporary Japanese Economy

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  • Tokuji Saita

    (Kobe University)

Abstract

This chapter discusses the role of innovation in economic growth, focusing on the type and content of innovation and the creation process. Innovations are essential for economic development, and can be classified as “sustainable” and “disruptive” based on the important features of the type and content or as “open” and “closed” based on its creation process. In the research of innovation, many microeconomic studies have focused on this classification, which has led to significant progress in the analysis of firms’ innovation activities. In contrast, analyzing innovation from the perspective of macroeconomics has been rather overlooked. Thus, it is very important to analyze the relationship between the openness (or closedness) of the creation process and the sustainability (or disruptiveness) of innovation from a macroeconomic perspective. Therefore, this chapter analyzes the desirable nature of innovation from the perspective of overall economic growth, and establishes the low “openness” of innovation brought about by low labor mobility as one of the primary reasons for the Japanese economy’s long-term stagnation after the burst of the bubble economy.

Suggested Citation

  • Tokuji Saita, 2023. "Necessity of Openness to Stimulate Innovation: An Investigation into Causes of Slow Innovation," SpringerBriefs in Economics, in: Education, Human Capital Investment, and Innovation in the Contemporary Japanese Economy, chapter 0, pages 37-52, Springer.
    • Handle: RePEc:spr:spbchp:978-981-19-8700-7_3
    DOI: 10.1007/978-981-19-8700-7_3
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