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Innovation, Industrial Dynamics and Structural Transformation : Schumpeterian Legacies
This book provides an account of work in the Schumpeterian and evolutionary tradition of industrial dynamics and the evolution of industries. It is shown that over time industries evolve and change their structure. In this dynamic process change is affected and sometimes constraint by many factors: knowledge and technologies, the capabilities and incentives of actors, new products and processes, and institutions. All these elements and their relations drive innovative activities and affect economic performance in an industry. Investigations into these complex phenomena show a deep interdependence between empirical work delivering a rich account of regularities and stylized facts in the structure of industries and their change, and theoretical analyses ranging from appreciate theorizing to formal modeling.
Entrepreneurship, the new economy and public policy : Schumpeterian perspectives
Silicon Valley is the most salient example of high-tech industrial clusters. Public policy makers throughout the world would like to learn the secrets of Silicon Valley in order to build their own high-tech economies. The existing literature on ind- trial clusters, which traces back to Marshall (1920), focuses on the way in which ?rms bene?t from locating in a cluster; it suggests that once a cluster comes into existence However, a more important question is how to reach this critical mass in the ?rst place. In contrast to the literature, evidence suggests that entrepreneurs rarely move when they est- lish high-tech start-ups. This contradicts the notion that location choice analyses lead entrepreneurs to a high-tech cluster. A high-tech industrial cluster such as Silicon Valley is characterized by c- centrated entrepreneurship.
