Resolving the knowledge paradox: Knowledge-spillover entrepreneurship and economic growth
TL;DR: The knowledge paradox suggests that high levels of investment in new knowledge do not necessarily and automatically generate the anticipated levels of competitiveness of growth as mentioned in this paper, and that knowledge investments do not automatically translate into balanced growth and competitiveness.
About: This article is published in Research Policy.The article was published on 2008-12-01. It has received 373 citations till now. The article focuses on the topics: Knowledge spillover & Knowledge economy.
Citations
More filters
Book•
01 Jan 2007TL;DR: In this paper, the authors explain why and how entrepreneurship has emerged as an engine of economic growth, employment creation and competitiveness in global markets, and the entrepreneurial society reflects the emergence as entrepreneurship as an important source of economic development.
Abstract: This paper explains why and how entrepreneurship has emerged as an engine of economic growth, employment creation and competitiveness in global markets. The entrepreneurial society reflects the emergence as entrepreneurship as an important source of economic growth.
594 citations
Cites background from "Resolving the knowledge paradox: Kn..."
...The resolution of the Swedish Paradox and European Paradox ( Audretsch & Keilbach 2008 ) came from rethinking the fundamental model of innovation....
[...]
TL;DR: In this paper, the authors explore the institutional factors that encourage opportunity entrepreneurship in order to achieve higher rates of economic growth and suggest that institutions may not have an automatic effect, as is typically assumed in growth models.
379 citations
TL;DR: In this paper, the authors investigate the economic impact of entrepreneurial universities' teaching, research, and entrepreneurial activities on the United Kingdom's economic performance and find that the highest economic impact is associated with knowledge transfer (knowledge capital).
377 citations
TL;DR: In this article, an integrative analysis spanning a broad spectrum of diverse literature enables a distinction between two different research lines in the field of entrepreneurship, and the findings of this study, based on articles from the journals included in the Web of Science database, facilitate a broader comprehension of two separate lines of research, which allows an analysis of the interaction among institutions, entrepreneurship and economic growth.
Abstract: This paper analyzes an emergent stream of research shedding light on the institutional factors shaping entrepreneurial activity and its effect on economic growth. This integrative analysis spanning a broad spectrum of diverse literature enables a distinction between two different research lines in the field of entrepreneurship. The findings of this study, based on articles from the journals included in the Web of Science database, facilitate a broader comprehension of two separate lines of research, which allows an analysis of the interaction among institutions, entrepreneurship, and economic growth. The systematic literature analysis over the last 25 years (1992–2016) of research reveals that institutions could be related to economic growth through entrepreneurship, which would open new research questions about what institutional factors are conducive to entrepreneurship, which in turn spurs economic growth. Thus, not only is understanding both complex relationships and their possible sequence useful for planning strategies and public policies, but it is also helpful for advancing and providing new insights in these research fields, which could be complementary and interdisciplinary.
309 citations
TL;DR: In this article, a Schumpeterian approach considering three equations linking GDP, innovation, and entrepreneurship facilitates the analysis of entrepreneurial activity in 13 developed countries, for the period 2002 to 2007.
303 citations
Additional excerpts
...…a substantial body of literature (see Acs, Audretsch, Braunerhjelm, & Carlson, 2004, 2005; Acs & Szerb, 2007; Audretsch, Bonte, & Keilbach, 2008; Audretsch & Keilbach, 2004a, 2004b, 2008; Audretsch, Keilbach, & Lehmann, 2006; Hamilton, 2007; Martinez, 2005; Mueller, 2007; Noseleit, 2013; Roper,…...
[...]
References
More filters
TL;DR: In this paper, the authors argue that the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends is critical to its innovative capabilities.
Abstract: In this paper, we argue that the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends is critical to its innovative capabilities. We label this capability a firm's absorptive capacity and suggest that it is largely a function of the firm's level of prior related knowledge. The discussion focuses first on the cognitive basis for an individual's absorptive capacity including, in particular, prior related knowledge and diversity of background. We then characterize the factors that influence absorptive capacity at the organizational level, how an organization's absorptive capacity differs from that of its individual members, and the role of diversity of expertise within an organization. We argue that the development of absorptive capacity, and, in turn, innovative performance are history- or path-dependent and argue how lack of investment in an area of expertise early on may foreclose the future development of a technical capability in that area. We formulate a model of firm investment in research and development (R&D), in which R&D contributes to a firm's absorptive capacity, and test predictions relating a firm's investment in R&D to the knowledge underlying technical change within an industry. Discussion focuses on the implications of absorptive capacity for the analysis of other related innovative activities, including basic research, the adoption and diffusion of innovations, and decisions to participate in cooperative R&D ventures. **
31,623 citations
01 Jan 1988
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
19,093 citations
TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
Abstract: This paper presents a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity. It is essentially a competitive equilibrium model with endogenous technological change. In contrast to models based on diminishing returns, growth rates can be increasing over time, the effects of small disturbances can be amplified by the actions of private agents, and large countries may always grow faster than small countries. Long-run evidence is offered in support of the empirical relevance of these possibilities.
18,200 citations
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
16,965 citations