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Innovation Dynamism and Economic Growth

A Nonlinear Perspective Masaaki Hirooka, Institute of Technoeconomics, Kyoto, Japan. He is former Vice-President and Professor of Economics, Ryutsu Kagaku University and Professor of Economics, Kobe University, Japan
This pathbreaking book addresses the economics of technological change as revealed by a unique methodology that uncovers the true nature of technological development. Masaaki Hirooka bases this new approach to the economics of technological change on the recognition of the nonlinear dynamic nature of innovation.
Extent: 448 pp
Hardback Price: $183.00 Web: $164.70
Publication Date: 2006
ISBN: 978 1 84376 578 3
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  • Economics and Finance
  • Economics of Innovation
  • Innovation and Technology
  • Economics of Innovation
This pathbreaking book addresses the economics of technological change as revealed by a unique methodology that uncovers the true nature of technological development. Masaaki Hirooka bases this new approach to the economics of technological change on the recognition of the nonlinear dynamic nature of innovation.

In order to provide a richer understanding of technological development, the book focuses on the period of innovation prior to market launch, grounding the analysis within a distinct innovation paradigm. This is expressed using three logistic trajectories – technology, development and diffusion – which make it possible to interpret and better understand technology foresight, infrastructure formation, long business cycles and national innovation systems. The author emphasizes the importance of the timing of innovation commitment, knowledge transfer between and within these trajectories, and the evolutionary character of innovation.

Those with an interest in economics, macroeconomics, technological change and evolutionary economics will find this book to be a highly stimulating and fascinating read.
‘I think this book is a great achievement. It is packed with useful information and thought-provoking analysis and discussion. The work on technological development is, especially, a very valuable original contribution to the work in this field. The book illuminates the technological trajectory so often ignored by economists, but which underlies Schumpeter’s "clusters" of innovations, and the emphasis on trunk innovations and analysis of their role is of particular interest.’
– Christopher Freeman, SPRU – Science and Technology Policy Research, University of Sussex, UK and Maastricht University, The Netherlands
Contents: Preface 1. Nonlinear Dynamism of Innovation: Executive Summary Part I: Diffusion of Innovation and Economic Growth 2. Dynamics of Product Diffusion and Economic Development 3. Kondratiev Business Cycles and Innovation Dynamism 4. Sequence of Bubble, Crash and Depression 5. Trunk Innovations and Institutional Change Part II: Dynamics of Technological Development and Emergence of New Industries 6. Technological Development and the Innovation Paradigm 7. Comprehensive Description of the Innovation Paradigm and the Role of the Development Trajectory 8. National Systems of Innovation and Industrial Competitiveness 9. Technology Fusion and the Evolution of Innovation Paradigms Part III: Nonlinear Dynamics of Innovation and Knowledge Transfer 10. Knowledge Transfer and Complexity in Innovation Systems 11. Technology Foresight and Long-Term Perspectives Part IV: New Insights into the Economics of Technological Change 12. Nonlinear Dynamics of Economic Development Bibliography Index