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Schumpeterian Dynamics and Metropolitan-Scale Productivity (Paperback)
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Schumpeterian Dynamics and Metropolitan-Scale Productivity (Paperback)
Series: Routledge Revivals
Expected to ship within 12 - 17 working days
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This title was first published in 2003. Schumpeter first put
forward the premise that the incessant turbulence of an economy in
motion, carrying out new combinations of products, production
methods with new technologies and the opening of new markets, is
capable of explaining patterns of economic growth and change.
Focusing on US industrialized urban areas, this volume tests this
theory empirically. Localized employment 'churn' - registered as
job creation/destruction dynamics - is used to account for
variations in US metro-regional economic productivity performances
during the 1986-1999 period. The results suggest that the
employment turnover and replacement dynamics have large and
significant positive effects on localized productivity growth
independent of a variety of industrial restructuring processes
occurring simultaneously. While employment churn effects are robust
across US Census regions, they do not exert a uniform influence on
metro-regional productivity performances across time. Until 1996,
job creation and destruction dynamics often cancelled each other
out as metro-regions underwent continued industrial restructuring.
Since 1996, however, positive effects on metro-region productivity
growth have been consistently strong. In addition to a strong
positive effect on productivity of the emergence of a localized IT
sector, both an expanding service sector share of regional
employment and a rising public spending share of regional output
exert powerful downward pressure of localized productivity growth
rates.
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