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The Economic Dynamics of Modern Biotechnology

Edited by Maureen McKelvey, Professor of Industrial Management, School of Business, Economics and Law, University of Gothenburg, Annika Rickne, Professor, Royal Institute of Technology and Jens Laage-Hellman, Associate Professor, Department of Technology Management and Economics, Chalmers University of Technology, Sweden
This book offers a novel insight into the economic dynamics of modern biotechnology, using examples from Europe to reflect global trends. The authors apply theoretical insight to a fundamental enigma of the modern learning society, namely, how and why the development of knowledge and ideas interact with market processes and the formation of industries and firms.
Extent: 432 pp
Hardback Price: $176.00 Web: $158.40
Publication Date: 2004
ISBN: 978 1 84376 519 6
Availability: In Stock
Paperback Price: $64.00 Web: $51.20
Publication Date: 2006
ISBN: 978 1 84542 790 0
Availability: In Stock
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  • Economics and Finance
  • Economics of Innovation
  • Environment
  • Biotechnology
  • Innovation and Technology
  • Biotechnology
  • Economics of Innovation
This book offers a novel insight into the economic dynamics of modern biotechnology, using examples from Europe to reflect global trends. The authors apply theoretical insight to a fundamental enigma of the modern learning society, namely, how and why the development of knowledge and ideas interact with market processes and the formation of industries and firms.

This book offers new empirical evidence to address such questions by studying the diversity of biotechnology in Europe. By analysing the way in which the development of new knowledge and information is linked with economic transformation, the authors are able to provide a rich theoretical understanding of the economic dynamics of knowledge within the biotechnology sector. They clearly show how innovation opportunities are affected not just by the market, but by scientific developments, networks, institutions and government policy. They also raise important theoretical questions about how and why new industries, networks and organizations are shaped, and highlight the development and impacts of biotechnology on many existing sectors, including pharmaceuticals, agriculture and insurance. The final chapter summarizes the theoretical challenges which have been overcome and identifies future areas for research.

The Economic Dynamics of Modern Biotechnology will become essential reading for students, scholars and researchers of the management and economics of innovation, business strategy, industrial organization, the theory of the firm, the economics of technological change, and regional studies. It will also appeal to a wider political and business audience such as government policymakers and managers of biotechnology firms.
‘All would agree that with more than 3,000 new firms formed in Europe, Japan and the United States focused on biotechnology, and with elegant strides forward in our understanding of genetics, the genome, proteomics and other related fields, a true intellectual, social and industrial revolution is in the making. Maureen McKelvey et al provide fascinating data on firm formation, case studies of emerging business models and cross-regional and national comparisons. The work is a useful beginning in our understanding of an emerging phenomenon.’
– James M. Utterback, Massachusetts Institute of Technology, US

‘This book is a highly ambitious work, the joint product of 25 co-authors. It represents an attempt to examine modern biotechnology as an economic process and, in so doing, it draws heavily – and successfully – upon the conceptual framework of evolutionary economics and the literature on industrial management. The empirical focus is on the present-day European scene, and it is a great virtue of the book that it unpacks and illuminates the diversity that characterizes that scene today. The wide coverage, along with the differing perspectives of individual authors, provides the reader with an invaluable platform for future research upon an industry that seems clearly destined to serve as an engine of economic growth in the new century.’
– Nathan Rosenberg, Stanford University, US
Contributors: C. Autant-Bernard, J. Brink, S. Brusoni, S. Casper, R. Cutts, L. Dahlander, S. Gee, A. Geuna, M. Harvey, M.M. Hopkins, H. Kettler, J. Laage-Hellman, R.L. Jensen, V. Mangematin, N. Massard, M. McKelvey, A. McMeekin, F. Murray, P. Nightingale, L. Orsenigo, M. Quéré, A. Rickne, J. Senker, K. Smith, F. Valentin
Contents:
Preface
Part I: Introduction
1. Introduction
Jens Laage-Hellman, Maureen McKelvey and Annika Rickne
2. Conceptualizing and Measuring Modern Biotechnology
Johan Brink, Maureen McKelvey and Keith Smith

Part II: Setting the Scene
3. Stylized Facts about Innovation Processes in Modern Biotechnology
Maureen McKelvey, Annika Rickne and Jens Laage-Hellman

4. The Post-Genome Era: Rupture in the Organization of the Life Science Industry?
Michel Quéré

5. An Overview of Biotechnology Innovation in Europe: Firms, Demand, Government Policy and Research
Jacqueline Senker

Part III: Challenging the Existing
6. Risk Management and the Commercialization of Human Genetic Testing in the UK
Michael M. Hopkins and Paul Nightingale

7. Network and Technology Systems in Science-driven Fields: The Case of European Food Biotechnology
Finn Valentin and Rasmus Lund Jensen

8. Future Imperfect: The Response of the Insurance Industry to the Emergence of Predictive Genetic Testing
Stefano Brusoni, Rachel Cutts and Aldo Geuna

9. Emergent Bioinformatics and Newly Distributed Innovation Processes
Andrew McMeekin, Mark Harvey and Sally Gee

Part IV: Forming the New
10. The Dynamics of Regional Specialization in Modern Biotechnology: Comparing Two Regions in Sweden and Two Regions in Australia, 1977–2001
Johan Brink, Linus Dahlander and Maureen McKelvey

11. On the Spatial Dimension of Firm Formation
Annika Rickne

12. Examining the Marketplace for Ideas: How Local are Europe’s Biotechnology Clusters?
Steven Casper and Fiona Murray

13. Creation and Growth of High-Tech SMEs: The Role of the Local Environment
Corinne Autant-Bernard, Vincent Mangematin and Nadine Massard

Part V: Conclusions
14. Reflections and Ways Forward
Hannah Kettler, Maureen McKelvey and Luigi Orsenigo

Index