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Nonlinear dynamism of innovation and business cycles

In: Entrepreneurships, the New Economy and Public Policy


  • Masaaki Hirooka

    (Institute of Technoeconomics)


The aim of this paper is to describe the nonlinear dynamism of innovation and to clarify the role of innovation for economic development in terms of Kondratiev business cycles, especially the causal relation of the bubble economy and depressions with innovations. Any paradigm of technological innovation develops within a definite time span reaching maturity. This nonlinear nature clarifies many characteristic features of innovation. Schumpeter’s innovation theory on business cycles is examined through this dynamism. Trunk innovation is defined as that which plays a decisive role in building infrastructures and inducing subsequent innovations. Every innovation has its own technological development period just before the innovation diffusion. The emergence of new markets can be estimated by chasing the ongoing technologies.

Suggested Citation

  • Masaaki Hirooka, 2005. "Nonlinear dynamism of innovation and business cycles," Springer Books, in: Uwe Cantner & Elias Dinopoulos & Robert F. Lanzillotti (ed.), Entrepreneurships, the New Economy and Public Policy, pages 289-316, Springer.
  • Handle: RePEc:spr:sprchp:978-3-540-26994-6_16
    DOI: 10.1007/3-540-26994-0_16

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    Cited by:

    1. de Groot, E.A. & Segers, R. & Prins, D., 2021. "Disentangling the enigma of multi-structured economic cycles - A new appearance of the golden ratio," Technological Forecasting and Social Change, Elsevier, vol. 169(C).


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