Macro Innovation Dynamics and the Golden Age: New Insights into Schumpeterian Dy

Description: Macro Innovation Dynamics and the Golden Age by Paul J.J. Welfens 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. FORMAT Paperback LANGUAGE English CONDITION Brand New Publisher 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. Back Cover 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. Author Biography Prof. Paul J. J. Welfens is Jean Monnet Professor for European Economic Integration, Chair for Macroeconomics, President of the European Institute for International Economic Relations at the University of Wuppertal, Alfred Grosser Professorship 2007/08 at Sciences Po in Paris, Research Fellow at IZA in Bonn, Non-Resident Senior Fellow at AICGS/Johns Hopkins University in Washington D.C. Table of Contents Green Innovations and CO2 in a Growth Perspective: A Neoclassical Model.- Innovation, Inequality and a Golden Rule for Growth in an Economy with R&D.- Technological Progress, Output Elasticity, FDI and Growth Cycles.- Product Innovations in a Schumpeterian Mundell-Fleming Model.- Schumpeterian Macroeconomic Production Function for Open Economies. Feature Takes a broad fresh look at the golden age in neoclassical growth Combines, for the first time, a knowledge production function with the macro production function in open economies Provides new insights into the role of foreign direct investment, trade, innovation dynamics and growth in both OECD countries and newly industrialized countries Details ISBN3319843826 Author Paul J.J. Welfens ISBN-10 3319843826 ISBN-13 9783319843827 Format Paperback DEWEY 330 Pages 148 Publisher Springer International Publishing AG Year 2018 Publication Date 2018-07-13 Imprint Springer International Publishing AG Place of Publication Cham Country of Publication Switzerland Illustrations 8 Illustrations, color; 16 Illustrations, black and white; XVII, 148 p. 24 illus., 8 illus. in color. Subtitle New Insights into Schumpeterian Dynamics, Inequality and Economic Growth Short Title Macro Innovation Dynamics and the Golden Age Language English UK Release Date 2018-07-13 Edition Description Softcover reprint of the original 1st ed. 2017 Alternative 9783319503660 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:131032322;

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