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Development of Innovation in Economic

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  • Kouam, Henri
  • Mua, kingsley

Abstract

This paper presents the theory of innovation in attaining economic sciences. It equally reviews economic literature and investigates creation from different economic models. It begins with analyzing 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 have grown over the last decade.

Suggested Citation

  • Kouam, Henri & Mua, kingsley, 2023. "Development of Innovation in Economic," MPRA Paper 119162, University Library of Munich, Germany, revised 13 May 2023.
    • Handle: RePEc:pra:mprapa:119162
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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. Boland, Lawrence A & Newman, Geoffrey, 1979. "On the Role of Knowledge in Economic Theory," Australian Economic Papers, Wiley Blackwell, vol. 18(32), pages 71-80, June.
    4. Freeman, Chris, 1994. "The Economics of Technical Change," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 18(5), pages 463-514, October.
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    More about this item

    Keywords

    Innovation; Economics; Development; Theory; Economic Growth;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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