Paul J J Welfens

(Author)

Macro Innovation Dynamics and the Golden Age: New Insights Into Schumpeterian Dynamics, Inequality and Economic Growth (2017)Hardcover - 2017, 23 February 2017

Macro Innovation Dynamics and the Golden Age: New Insights Into Schumpeterian Dynamics, Inequality and Economic Growth (2017)
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Print Length
148 pages
Language
English
Publisher
Springer
Date Published
23 Feb 2017
ISBN-10
3319503669
ISBN-13
9783319503660

Description

This book takes a new look at the golden age in neoclassical growth theory and explores in detail sustainability and optimum growth in China, the US and Europe. Innovation, foreign direct investment, trade and growth dynamics are key elements in modern economies - including perspectives on green growth and aspects of the knowledge production function in the context of multinational companies. As such the book considers the role of foreign direct investment in a modified growth model and discusses innovation in an enhanced Mundell-Fleming macro model. Moreover, for the first time it directly links a knowledge production function to the macro production function in a broader context, including real money balances in the production function. It shows - also with empirical relevance - that FDI inward stocks relative to the GDP of host countries, the number of researchers and per capita income are relevant drivers of new knowledge and the stock of knowledge, respectively. This new Schumpeterian theoretical approach lends itself to important policy conclusions for both OECD members and newly industrialized countries.

Product Details

Author:
Paul J J Welfens
Book Edition:
2017
Book Format:
Hardcover
Country of Origin:
NL
Date Published:
23 February 2017
Dimensions:
23.39 x 15.6 x 1.12 cm
ISBN-10:
3319503669
ISBN-13:
9783319503660
Language:
English
Location:
Cham
Pages:
148
Publisher:
Weight:
412.77 gm

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