nep-ino New Economics Papers
on Innovation
Issue of 2021‒10‒18
three papers chosen by
Uwe Cantner
University of Jena
  1. The Interaction of Schumpeterian Institutional Entrepreneurship and Hayekian Institutional Change in Innovative Industries By Henrekson, Magnus; Lakomaa, Erik; Sanandaji, Tino
  2. Institutions and the productivity challenge for European regions By Rodríguez-Pose, Andrés
  3. Productivity Growth and Capital Deepening in the Fourth Industrial Revolution By Martin Fleming
  1. By: Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Lakomaa, Erik (Institute for Economic and Business History Research (EHFF)); Sanandaji, Tino (Institute for Economic and Business History Research (EHFF))
    Abstract: Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital model and the Hollywood motion picture industry to illustrate how specialized institutions that regulate these entrepreneurial ecosystems emerged through actions by business entrepreneurs, rather than being designed by policymakers. Schumpeterian entrepreneurs not only create new companies; they also create new institutions as an integral part of the restructuring process. At times, efforts of identifiable entrepreneurs are crucial, while in other instances institutional change results from a Hayekian process of emergence fueled by business entrepreneurs’ efforts. Some institutions remain informal, whereas others become formalized. The greater room to forge institutions through business practices may in part account for the higher rates of entrepreneurship observed in common law countries.
    Keywords: Entrepreneurship policy; High-impact entrepreneurship; Innovation; Institutional entrepreneurship; Schumpeterian entrepreneurship
    JEL: L26 M13 O31 P14
    Date: 2021–10–12
    URL: http://d.repec.org/n?u=RePEc:hhs:iuiwop:1409&r=
  2. By: Rodríguez-Pose, Andrés
    Abstract: Europe has witnessed a considerable labour productivity slowdown in recent decades. Many potential explanations have been proposed to address this productivity ‘puzzle’. However, how the quality of local institutions influences labour productivity has been overlooked by the literature. This article addresses this gap by evaluating how institutional quality affects labour productivity growth and, particularly, its determinants at the regional level during the period 2003–2015. The results indicate that institutional quality influences regions’ labour productivity growth both directly—as improvements in institutional quality drive productivity growth—and indirectly—as the short- and long-run returns of human capital and innovation on labour productivity growth are affected by regional variations in institutional quality.
    Keywords: Labour productivity; institutional quality; physical capital; human capital; innovation; regions; Europe; OUP deal
    JEL: R14 J01 N0
    Date: 2021–06–10
    URL: http://d.repec.org/n?u=RePEc:ehl:lserod:108915&r=
  3. By: Martin Fleming (The Productivity Institute, The University of Manchester)
    Keywords: industrial revolution, productivity, industry 4.0, capital deepening, technological innovation, creative destruction
    Date: 2021–09
    URL: http://d.repec.org/n?u=RePEc:anj:wpaper:010&r=
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