کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5053606 1476516 2016 7 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The effects of probabilistic innovations on Schumpeterian economic growth in a creative region
ترجمه فارسی عنوان
اثرات نوآوری احتمالی بر رشد اقتصادی شومپیتر در یک منطقه خلاق
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


- We study the effects of random innovations on Schumpeterian economic growth in a creative region.
- We describe the balanced growth path (BGP) equilibrium and compute the BGP growth rate.
- We solve the social planner's problem and derive the Pareto optimal growth rate.
- We compare the BGP and the Pareto optimal growth rates.
- We discuss when there is either too much or too little innovation.

We analyze the impact that stochastically occurring innovations have on Schumpeterian economic growth in a region that is creative in the sense of Richard Florida. Our analysis leads to four findings. First, we delineate the so called balanced growth path (BGP) equilibrium and then compute the BGP growth rate in our creative region. Second, we discuss why the lower limit of the support of the random variable that describes the outcome of innovation quality improvements, takes the value that it does. Third, we solve the social planner's problem and derive the Pareto optimal growth rate in our creative region. Finally, we compare the BGP and the Pareto optimal growth rates, we discuss when there is either too much or too little innovation, and we conclude by commenting on the implications of our findings for future research on Schumpeterian economic growth in creative regions.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 53, February 2016, Pages 224-230
نویسندگان
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