The Dynamics of Innovation and Investment, with application to Australia 1984 - 1998

Courvisanos, Jerry (2000). The Dynamics of Innovation and Investment, with application to Australia 1984 - 1998. UNU-MERIT Research Memoranda. UNU-MERIT.

Document type:
Report

Metadata
Documents
Versions
Statistics
  • Attached Files (Some files may be inaccessible until you login with your UNU Collections credentials)
    Name Description MIMEType Size Downloads
    rm2000-003.pdf PDF application/pdf 189.07KB
  • Sub-type Working paper
    Author Courvisanos, Jerry
    Title The Dynamics of Innovation and Investment, with application to Australia 1984 - 1998
    Series Title UNU-MERIT Research Memoranda
    Volume/Issue No. 3
    Publication Date 2000
    Publisher UNU-MERIT
    Language eng
    Abstract Ever since the start of the Industrial Revolution in Britain in the 1760s, innovation and investment have been crucial elements in economic explanations of the dynamics of capitalism. Classical economics recognises that innovation embodied in the form of new machines through fixed capital investment is the essential process for realising economic development. This study sets up a theoretical linkage between innovation and investment in historical time, without reference to any static equilibrium model. In this way, the relationship between instability of cycles and trend growth can be clearly identified. A theoretical framework and specific model of innovation and investment are developed. This is followed by an empirical investigation in support of this analysis to show plausibility in the important linkages between innovation and investment that have been missed when examined through static analysis of these relations. The statistical analysis is based on recent Australian industry sector data (1984-98) on R&D and capital expenditure in panel data form and in evolutionary industry life-cycle form. Conclusions from this work indicate the need to re-examine the way strategies are formed and developed in both the private and public sectors for more effective appropriation of innovation into the investment planning process.
    Copyright Year 2000
    Copyright type All rights reserved
  • Versions
    Version Filter Type
  • Citation counts
    Google Scholar Search Google Scholar
    Access Statistics: 336 Abstract Views, 154 File Downloads  -  Detailed Statistics
    Created: Fri, 13 Dec 2013, 13:01:39 JST