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Innovation Economy, Productive Public Expenditures and Economic Growth

Listed author(s):
  • Oscar Afonso

    ()

    (Universidade do Porto - CEFUP)

  • Sara Monteiro

    (Nice Sophia Antipolis University - CEMAFI)

  • Maria Thompson

    ()

    (University of Minho - NIPE)

Innovation is the main engine of growth in an increasing number of economies. Innovation economies are, according to the Quadruple Helix (QH) Innovation Theory, sustained by four pilars – Firms, Academia, Government and Consumers –, all operating in a systemic, interactive environment. We provide a model that gives analytical body to the QH theory and links formally innovation to economic growth. We aim to emphasise the equally important roles of the four helices sustaining an innovation economy and its long run growth. In particular, given the downwards pressure on Government expenditures, we analyse the effects of an increase in public expenditures on economic growth, which we find positive in the short, medium and long-run.

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File URL: http://www3.eeg.uminho.pt/economia/nipe/docs/2012/NIPE_WP_13_2012.pdf
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Paper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 13/2012.

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Date of creation: 2012
Handle: RePEc:nip:nipewp:13/2012
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Núcleo de Investigação em Políticas Económicas, Escola de Economia e Gestão, Universidade do Minho, P-4710-057 Braga, Portugal

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