Tackling innovation as an endogenous process, this groundbreaking new book builds upon the Schumpeterian creative response by implementing the tools of complexity economics. This reappraisal of the Schumpeterian legacy allows the author to apply complexity economics to endogenous knowledge externalities and consequently move away from the Darwinistic and biological accounts of evolutionary economics. This approach proves that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of this reaction is contingent upon access conditions to knowledge externalities. Cristiano Antonelli demonstrates that the consequent introduction of innovations may, in turn, knock firms further out of equilibrium and cause positive changes in the system's properties that feed the introduction of further innovations. In addition, this can also engender the decline of the system's properties and push firms to adaptive response that drive the system towards an equilibrium without growth and change. This path dependent loop of interactions between the system properties and the individual actions of firms is central to this book. Paving the way to a new phase of evolutionary economics, the book's prime readership will be students and scholars who study and teach evolutionary economics, the economics of innovation and/or the economics of growth.

Regulation is on the rise across the world as the state steps back from public ownership. However, as the authors highlight, the style of political delegation to regulatory authorities has not followed a uniform trajectory but rather institutional endowments, administrative traditions, market structure and business culture have all influenced the creation of regulatory authorities and implementation styles. Noting these variances, the focus of this book is to consider the impact of liberalisation and the introduction of new regulatory structures on three utility sectors - telecommunications, energy and the railways - using Germany and the UK as case studies. With regulation seeking to foster competition at the same time as also having to protect essential services, the authors investigate regulatory styles, costs of new regulatory functions and how firms in the new regulatory landscape access and influence regulatory authorities. The authors consider how EU pressures may hinder or help the functioning of new regulatory markets and the establishment of business-regulator relationships, as well as the broader policy implications for these new regulatory environments. The book also determines how regulatory authorities emerge and evolve under different state traditions and assesses, over time, the degree to which there is potential for convergence, divergence and continued differences as regulatory functions mature. This book will be warmly welcomed by researchers and academics of comparative public policy, politics and regulation. It will also appeal to policy makers and the business community in Europe.

Economic Growth is an advanced undergraudate text written specifically for one semester courses in growth theory and for first year graduate students to refresh their knowledge. It should also be of great use for scholars and professional economists as the text contains many references to practical policy issues. The author condenses the fundamental issues of growth theory and covers the new ideas in a highly entertaining text, written in a clear and accessible style.

Despite a wealth of efforts that examine separately the role entrepreneurs and universities play in economic development, no systematic effort has been made to examine the role universities play in promoting economic development through entrepreneurship. This book fills that gap, focusing on policy aspects of government-university partnerships with a discussion both of best practices and problematic strategies. The book begins by tracing the history of American government-university-industry partnerships that have promoted economic development. In succeeding chapters, well-known scholars focus on linkages in different domains such as: technology transfer, innovation networks, brain drain, cluster-based planning, and manufacturing. Practitioner commentaries follow many of the chapters in order to present an evaluation of the arguments from the perspective of someone directly involved in the fostering of these relationships. Non-technical and accessible in nature, the chapters summarize existing knowledge and research in order to help policymakers, foundations, university officials, business leaders and other stakeholders create and enhance partnerships between universities and governments that encourage economic development through entrepreneurship.

Combining impartial analysis with reliable facts and figures, this fully revised and updated 24th edition provides up-to-date commentary on these vast North American nations. General Survey Essays by leading experts analyse topics of regional importance, including: - US-Canadian integration, US foreign policy in the Arctic region, and the COVID-19 pandemic in North America. Country Surveys Each country is dealt with in greater detail within its own section. Country chapters include: - a chronology of political events - essays covering key socio-political and economic themes, including: recent political developments; foreign policy; constitution; the economy; energy policy; agriculture; trade; health and social policy - additional essays examining timely subjects such as religion in US politics and the US Judicial system - historical, political and economic surveys of each of the US states and Canadian provinces and territories - statistical surveys of economic and demographic indicators - comprehensive directory sections covering public affairs, the economy and society, which provide contact details and other useful information for the most significant institutions in the region.

Although in recent years some emerging economies have improved their performance in terms of research and development (R&D) investment, outputs and innovative capacity, these countries are still blighted by extreme poverty, inequality and social exclusion. Hence, emerging countries are exposed to conditions which differ quite substantially from the dominant OECD model of innovation policy for development and welfare. This Research Handbook contributes to the debate by looking at how innovation theory, policy and practice interact, and explains different types of configurations in countries that are characterized by two contrasting but mutually reinforcing features: systemic failure and resourcefulness. Focusing on innovation governance and public policies, it aims to understand related governance failures and to explore options for alternative, more efficient approaches. This book brings to the fore new concepts, theories and questions about the Global South, across multiple disciplines. It discusses specific country cases, exploring overarching patterns and lessons that address development bottlenecks and policy designs aimed at improving quality of life and economic progress in emerging economies. Defining more adequate development strategies by balancing economic well-being with social inclusion, this book will be of great interest to scholars, students and policy makers of innovation, growth and development studies. Contributors include: B.A. Adebowale, R. Arocena, L. Becerra, P. Catalan, C. Chaminade, P. Delvenne, A. Djeflat, G. Dutrenit, M. Fressoli, S. Garrido, P. Juarez, S. Kuhlmann, A.M. Loconto, S. Mani, G.M. Marcelle, G. Ordonez-Matamoros, J. Orozco, A.A. Oyewale, R.P. Perez, M. Puchet Anyul, B. Rennkamp, E. Robles-Belmont, M. Salazar, M. Scerri, E.F. Simbua, W.O. Siyanbola, J. Sutz, H. Thomas, F. Thoreau, D. Vinck, J. Voeten

East Asian countries - currently the most dynamic region of the global economy - have recently pursued trade liberalization through the adoption of various forms of bilateral and plurilateral Free Trade Agreements (FTAs). The book explores the key issues and possible outcomes arising from this departure from the region's traditional multilateral approach to trade liberalization. Implications of this new approach for the region as a whole, and key participating individual economies and blocs of economies, are emphasized. New East Asian Regionalism includes up-to-date analysis of the most recent developments in FTAs between countries in East Asia, as well as those involving countries from outside the region. Furthermore, the book includes invaluable projections on economic and welfare outcomes of regional trade agreements, using the very latest empirical techniques, and data. The book also considers the implications arising from closer financial integration in the region. This book will be warmly welcomed by scholars of regional science, international economics and business, as well as Asian studies. Policymakers at both the national government and international organization level will also find this book of great interest.

This book provides evolutionary and institutional perspectives on the reform of infrastructure industries, tracing the development of this process in a number of sectors and countries.The contributors contend that infrastructure based industries such as telecommunications, public transport, water management and energy have been increasingly exposed to the dynamism of the market since becoming privatized, and have therefore been stimulated into short-term efficiency and long-term innovation. Drawing on institutional economic theory backed up with case studies such as the California energy crisis, the Dutch gas industry, oil and electricity companies in Spain and the privatization of Schipol airport in Amsterdam, the book focuses on process, driving forces, and actors' roles to explain how new balances are established between competing institutions. The degree to which the processes of institutional change are predictable and the effects of deliberate strategic interventions of governments or private actors are explored. Specific technical and sector aspects and their influence on institutional change in various infrastructures are also discussed. This book will strongly appeal to academics and practitioners in politics or industry with an interest in industrial, evolutionary institutional or public sector economics.

Although most people believe that some form of government is necessary, until recently it was merely an assumption that had never been analyzed from an economic point of view. This changed in the 1970s when economists at the Center for the Study of Public Choice engaged in a systematic exploration of the issue. This stimulating collection, the first book-length treatment on the public choice theory of government, continues and extends the research program begun more than three decades ago. The book reprints the main articles from the 1972 volume Explorations in the Theory of Anarchy, and contains a response to each chapter, as well as new comments by Gordon Tullock, James Buchanan, Jeffrey Rogers Hummel and Peter Boettke. The younger economists are notably less pessimistic about markets and more pessimistic about government than their predecessors. Much of the new analysis suggests that private property rights and contracts can exist without government, and that even though problems exist, government does not seem to offer a solution. Might anarchy be the best choice after all? This provocative volume explores this issue in-depth and provides some interesting answers. Economists, political scientists, philosophers and lawyers interested in public choice, political economy and spontaneous order will find this series of essays illuminating.

Organisations and the nature of work have undergone fundamental changes in recent decades. At the same time, the traditional family pattern in Europe is being challenged by the growing number of dual-income families, and by the rise of women's employment. The central aim of this book is to consider to what extent changes in organisations and in the nature of jobs are compatible with the need, increasingly expressed by employees, for greater integration between work and family life. The book questions what sort of dilemmas modern and future employees face, in terms of shaping their careers and organising their lives at home. The authors formulate answers to these problematic questions by shedding light on relevant developments in the European labour markets, the European workplaces, in (flexible) working patterns, changing preferences for working hours and in gender relations at work. With a focus on future developments, this book will be of interest to labour market researchers and social policymakers in Europe, and also students in the social sciences, management (HRM) and social policy.

On the 100th anniversary of the birth of one of the 20th century's most accomplished and controversial economists, scholars from around the world reflect on the legacy of Joan Robinson's work. Addressing Robinsonian themes in growth, money, trade and methodology, their essays provide fresh perspectives on old questions. Joan Robinson's first priority was not theoretical perfection or abstract rigor. The arcane debates of the profession had little practical relevance and became increasingly tedious to her. Ironically, much of current economic theory embraces the realism she was striving toward. Indeed, as the essays in this volume show, she was in many ways ahead of her time. The volume begins by tracing the intellectual contours of her work and discussing the people and events that shaped her thinking. The succeeding chapters address her theories on accumulation, capital, and equilibrium, her interpretation of Marx, as well as the influence of Piero Sraffa. Several chapters analyze and extend her theory of growth, illustrating the wide applicability of her approach. A compelling exploration of Joan Robinson's contributions, this volume will be of great interest to scholars interested in growth, income distribution, post-Keynesian economics, macroeconomics, history of thought, money, capital theory, international trade and finance.

Taxation and Economic Behaviour offers a number of broad introductory surveys in the areas of public economics and public finance. Divided clearly into two parts - measurement issues and taxation and economic behaviour - this innovative collection of articles consists of published refereed papers and several new and previously unpublished pieces.Initially, the book focuses on measurement issues, and includes chapters on income inequality, poverty, tax progressivity, income dynamics and welfare changes. It then goes on to explore the wider theme of taxation and economic behaviour, including material on taxation and labour supply, behavioural micro simulation modelling, and general equilibrium. Throughout the book, John Creedy makes use of numerical examples which help to illustrate the structure and use of the various models. Providing introductory material and syntheses of a wide range of topics, Taxation and Economic Behaviour will be welcomed by students, lecturers and researchers with an interest in public finance and public sector economics.

* Serves as a design/art direction/writing/creative-collaboration primer for non-designers * Enables development of a common frame of reference for business and creative professionals, to foster better understanding and appreciation of the creative process - and better business results * Includes a chapter on diversity, equity, and inclusion in design

In this, his final book, Gavin Boyd has brought together a distinguished group of experts on the nature and extent of transatlantic policy coordination and its implication for corporate strategy. This remarkably relevant set of papers offers a discussion on the economic and financial linkage between Europe and North America, as well as the trade and investment rules governing this interaction.The complexities of the transatlantic relationship are analyzed in chapters dealing with: financial integration, transfer of knowledge and technology, transatlantic trade and corporate partnership, transatlantic trade and investment links, simultaneous intra-regional as well as transatlantic trade and the implications for antitrust policy of the activities of multinational enterprises, structural positioning and macroeconomic policy coordination, international interdependence and the role of entrepreneurship, and the reform of international financial markets. Exploring growing transatlantic trade and investment linkages within their institutional contexts, this timely book will be invaluable to academics and researchers with an interest in international business and international economics. Practicing trade lawyers and policymakers will also find the book to be a fascinating read.

In the global financial crisis, competitiveness gaps between Euro area countries caused additional strain. This book discusses the various dimensions of competitiveness, with a special focus on emerging Central, Eastern and Southeastern European countries. For Europe to proceed with convergence and to resist global competitive pressures, it argues that policies to boost productivity and innovation are vital. With products becoming ever more technically sophisticated and global interconnectedness on a relentless rise, it also demonstrates that quality, customer orientation and participation in global production networks and global value chains are at least as important as relative costs and prices. This book delves into the literature and dissects the complexity of competitiveness, aiming to offer tangible policy advice focussed on how well the European economy is performing and how it could improve. The key findings of the book, from a mix of academics and policymakers, constitute a state-of-the-art assessment of competitiveness that may change traditional perceptions of how economies can return to a path of sustainable growth. Comprehensive and forward-looking, this enlightening book will appeal to academics, researchers and policymakers with a particular interest in European economies and economic integration. Contributors include: D. Andrews, B.B. Bakker, I. Begg, M. Belka, K. Benkovskis, Z. Darvas, A. de Serres, M. Gradzewicz, D. Hanzl-Weiss, B.S. Javorcik, A. Kosior, K. Krogulski, M. Landesmann, E. Nowotny, B. Pinto, D. Ritzberger Grunwald, M. Rubaszek, P. Samecki, M. Silgoner, P. Sinclair, K. Vondra, B. Vujcic, J. Woerz, L. Yueh

Political Entrepreneurship explores the role of political entrepreneurs in regional growth and entrepreneurial diversity. The authors define a political entrepreneur as a politician, bureaucrat or officer within the publicly funded sector who encourages entrepreneurship for growth and employment using innovative approaches. This book aims to enrich the established research on entrepreneurship with in-depth knowledge of the conditions conducive for political entrepreneurship in Sweden. Political entrepreneurs have the potential to be innovative and encourage entrepreneurship and entrepreneurial diversity by fundamentally challenging the prevailing formal and informal institutions. It is argued that, in times of economic stress, political entrepreneurship is essential to find new ways of promoting growth, employment and welfare. By using social science and economics perspectives, this study complements the dominant business administration research on entrepreneurship by increasing our knowledge of the economic and political contexts in which entrepreneurship and private enterprise is conducted. This book is essential reading for students, researchers and policymakers interested in politics, economics and entrepreneurship, as well as for those working in the public sector. Contributors include: D.E. Andersson, S. Andersson, A.E. Andersson, P. Assmo, C. Berggren, T. Bromander, C. Karlsson, M. Nilsson, C. Silander, D. Silander, P. Stroemblad, M.-L. von Bergmann-Winberg, Y. von Friedrichs, E. Wihlborg

This book explores the origins, rationale, problems and prospects of the European fiscal policy framework. It provides the reader with a roadmap to EMU's budgetary framework by exploring its theoretical and empirical foundations, uncovering its historical roots and emphasising its supranational nature. The authors, who have been at the forefront of the academic and policy debate on economic policy in Europe, argue that fiscal policy has always been at the core of the EMU debate. The Maastricht criteria and the Stability and Growth Pact are the most contentious building blocks of EMU's institutional architecture: they have aroused heated controversies between academics and policymakers ever since their adoption. As EMU's budgetary rules undergo their first severe shock, Europe is still searching for its fiscal soul. The book's basic premise is that one cannot fully understand EMU's fiscal framework and the recent debate on its reform without placing them in a historical and institutional perspective and abstracting from the uniqueness of EMU, where sovereign countries retain a large degree of fiscal independence, and monetary policy is entrusted to an independent central bank with the overriding mission of maintaining price stability. Analysing all aspects of EMU's fiscal rules and institutions, this book will strongly appeal to students, academics and researchers of macroeconomic policy and European integration. Policymakers and fiscal policy experts at both national and international levels will also find the book to be of great interest.

Innovation studies is an evolving interdisciplinary field that has moved away from the weaknesses of neoclassical thinking and embraced evolutionary theory. In this timely book, the authors offer a precise introduction to the nature of national innovation systems (NIS), examining the history of the concept and its use in today's world. This book uses language appropriate for both social science and engineering scholars to offer an accurate synopsis of the emergence of the concept, its theoretical core and its evolution. It analyses both developed and developing countries in terms of their NIS and its application to current societal challenges, such as economic growth, inclusive development and environmental sustainability, in an increasingly globalized and interconnected world. Key features include:? three authors from three different generations and countries offer an overview of NIS from around the world extensive use of examples from the Global North and Global South recommended in-depth reading after each topical chapter overview of future research challenges up-to-date review of the literature and engagement in current debates. Erudite and accessible, this unique book on NIS can easily be used for undergraduate and graduate teaching. It is a valuable, and much-needed resource for teachers, students and researchers at all levels.

The economics of energy has been a contested issue over the past century. Although it has not figured prominently in mainstream economics, numerous alternative proposals have called for energy to play a more central role in economic theory. In this highly original and enlightening volume, Guido Buenstorf develops a new conceptual approach to the economics of energy which originates from recent advances in evolutionary economics. The book proposes a non-reductionist, evolutionary approach to the economics of energy and sets out by asking how energy use in production contributes to the use value of goods. Based on a sequential production framework, the author re-interprets the notion of factors of production, identifies long-term patterns of change in energy use, and highlights the role of technical interdependence in adopting new energy technologies. This approach is then applied to three historical cases of energy innovation: the transition from wood to coal, the introduction of the steam engine, and the electrification of industrial production. Academics and researchers in the fields of evolutionary economics, ecological economics and innovation will welcome this fresh and illuminating interpretation of the economics of energy and its role in the process of production.

This Handbook provides a comprehensive overview of the modern economics of education literature, bringing together a series of original contributions by globally renowned experts in their fields. Covering a wide variety of topics, each chapter assesses the most recent research with an emphasis on skills, evaluation and data analytics. Beginning with an analysis of the economic returns to education, the Handbook proceeds to examine educational production functions, various funding models, and the labour market for educators. The Handbook goes beyond these traditional concerns of the economics of education, by revealing how the methods of economics can be applied in the context of education to open up the 'black box' of production in this sector. Detailed analysis and evaluation of educational production offers practical solutions and reveals considerable new insight about the specific interventions that can be made to enhance the value of schooling. Significant new lines of research are also suggested. This Handbook should be read by economists, policy-makers and practitioners in the field of education. Academics in the areas of the economics of education, labour economics and educational policy will also find this Handbook invaluable for current and further research.

Amidst mounting global policy attention directed toward international migration, this book offers an exhaustive review of the issues and evidence linking economic development in low-income countries with their migration experiences. The diversity of outcomes is explored in the context of; migration from East Europe and from the Maghreb to the EU; contract labor from South Asia in the Persian Gulf; highly skilled migrants moving to North America; and labor circulation within East Asia. Labor market responses at home, the brain drain, remittances, the roles of a diaspora, and return migration are each addressed, as well as an exploration of the effects of economic development upon migration and the implications of long-term dependence on a migration nexus. Robert Lucas concludes with an assessment of the winners and losers in the migration process, both at home and in the destination regions, before summarizing the main policy options open to both. This accessible and topical book offers invaluable insights to policy makers in both industrialized and developing countries as well as to scholars and researchers of economics, development, international relations and to specialists in migration.

This book offers a critical reflection on the operation and effects of labour regulation. It articulates the broad goals and extensive potential for it to contribute to inclusive development, while also considering the limits of some areas of regulation and governance. Drawing on both field studies and innovative theoretical perspectives, the contributors reveal an emerging consensus that labour regulation is neither negative nor positive for economic and social outcomes. By comparing the concerns and methodologies of various disciplines, they argue that balanced regulation is essential. Following analysis of how the global financial crisis has increased labour market segmentation, the book addresses the needs of key groups often at the periphery, including young women, workers in the informal economy, migrants and home-care workers. The book argues that effective and efficient labour market regulation can contribute to achieving key policy goals of employment formalization and inclusive labour markets, while also pursuing equitable distribution. An important comparative work, academics and students will find this book to be of exceptional value, particularly those studying law, economics, political science, international relations and development studies. Practitioners and policy-makers from both developed and developing countries will also benefit from the wide range of perspectives. Contributors include: D. Bailey, F. Bertranou, L. Casanova, S. Charlesworth, A. De Ruyter, C. Fenwick, M. Freedland, J. Grundy, B.-H. Lee, R. Rachmawati, J. Rubery, M.I. Syaebani, M.P. Thomas, K. Tijdens, V. Van Goethem, M. Van Klaveren, A.M. Vargas Falla, L.F. Vosko, T. Warnecke

This book reveals significant lessons on how economic prosperity was secured for people over three decades in eight Asian countries. It focusses on the careful way in which these nations designed and implemented pro-growth, liberal economic and financial policies. A new phenomenon - namely financial fragility - in the more liberalised fast growth Asian economies is also examined. The authors explore why only some of the early reformers among China, India, Indonesia, Korea, Malaysia, Pakistan, Singapore, and Thailand succumbed to a serious financial crisis in 1997 whilst others did not. They also analyse the impact of policies implemented by the crisis-hit economies, either under the IMF restructuring programs or independent pursuit of capital and currency controls. The book goes on to identify the weaknesses of the banking sector in order to explain the reasons behind the financial crisis. The book concludes with lessons for other emerging economies undertaking economic and financial development through liberalization. These examples reveal policies that could be prescribed in order to prevent future problems. Focusing on post-crisis reforms and their policy impacts, and on post-crisis evaluation of restructuring implemented in the financial sector, this book will appeal to academics and those with specific interests in Asian studies and/or banking and finance. Policymakers - in particular those at central banks and treasuries, along with professionals in financial institutions and multinational firms, will find the book to be a fascinating read.

Labour Supply and Incentives to Work in Europe highlights recent developments in the labour supply in Europe and gives a detailed assessment of their link with economic policies and labour market institutions. Despite major changes in European labour supply during the past few decades, the existing literature still lacks a comprehensive study of the relationship between labour supply and labour market institutions from a macro perspective. The contributors, themselves from a variety of academic disciplines and backgrounds, consider aspects of labour supply such as incentives to work, determinants of labour force participation and new forms of employment relationships. Each original and specially written chapter has its own discussion chapter to follow it. The book ends with a valuable panel discussion on the topic of labour supply in an enlarged Europe. This book will be read with interest by scholars of economics and labour economics in particular, as well as those researching industrial relations.

Part of The Elgar Series on Central Banking and Monetary Policy, this book explores challenges surrounding central banking today. It goes beyond the immediate concerns with monetary policy and focuses instead on the concept of central banking more generally. Chapter authors explore emerging fields of central bank's actions, discussing, for instance, how monetary policy can affect income distribution, how it has differentiated impacts according to gender, how it can help to deal with climate change, and how it can promote financial stability and structural change. Policy makers, academics and the financial press will all benefit from the insight in The Future of Central Banking.