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A Note on Schumpeterian Competition in the Creative Class and Innovation Policy

Author

Listed:
  • Batabyal, Amitrajeet
  • Yoo, Seung Jick

Abstract

We study innovation policy in a region in which the members of the creative class engage in Schumpeterian competition and thereby extend aspects of the recent analysis in Batabyal and Yoo (2017). Using the language of these researchers, the creative class is broadly composed of existing and candidate entrepreneurs. In contrast to these researchers, we suppose that R&D by candidate entrepreneurs does not generate any negative externalities. In this setting, we analyze the impact that taxes and subsidies on R&D by existing and candidate entrepreneurs have on R&D expenditures and regional economic growth.

Suggested Citation

  • Batabyal, Amitrajeet & Yoo, Seung Jick, 2017. "A Note on Schumpeterian Competition in the Creative Class and Innovation Policy," MPRA Paper 80127, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:80127
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    File URL: https://mpra.ub.uni-muenchen.de/80127/1/MPRA_paper_80127.pdf
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    References listed on IDEAS

    as
    1. Batabyal, Amitrajeet A. & Yoo, Seung Jick, 2018. "Schumpeterian creative class competition, innovation policy, and regional economic growth," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 86-97.
    2. Kenneth J. Arrow, 1962. "The Economic Implications of Learning by Doing," Review of Economic Studies, Oxford University Press, vol. 29(3), pages 155-173.
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    More about this item

    Keywords

    Creative Class; Creative Destruction; Economic Growth; Innovation Policy; R&D;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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