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Development of Innovation in Economics

Author

Listed:
  • Kouam, H
  • Mua, K

Abstract

This theory presents the theory of innovation in the attainment of economic sciences. It equally reviews economic literature and investigates innovation from different economic models. It first begins with the analysis of views on classical economics, including Adam Smith and David Ricardo. This is followed by discussions on theory in innovation today, as handled in the knowledge-based economy. Analyzing the achievements in economic thought outlines that innovation's importance and relevance has grown over the last decade.

Suggested Citation

  • Kouam, H & Mua, K, 2023. "Development of Innovation in Economics," MPRA Paper 118020, University Library of Munich, Germany, revised 08 Jun 2023.
    • Handle: RePEc:pra:mprapa:118020
    as

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    File URL: https://mpra.ub.uni-muenchen.de/118020/1/MPRA_paper_118020.pdf
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    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Lawrence A. Boland, 1979. "Knowledge and the Role of Institutions in Economic Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 13(4), pages 957-972, December.
    3. Freeman, Chris, 1994. "The Economics of Technical Change," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 18(5), pages 463-514, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Innovation; Economic Growth; Progress; Economic Models;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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