From an economic perspective, innovation is crucial for driving long-term economic growth. It leads to the creation of new industries and the expansion of existing ones, which in turn creates new job opportunities and increases the overall productivity of the economy. For example, the invention of...
we specifically assess the importance of innovation activities on economic growth, by investigating whether the innovation activities have contributed to economic growth, or whether
Literature specifies that innovation activities contribute to economic growth, both directly and indirectly via other macroeconomic factors, see, for instance, Furman et al. (2002), Hassan and Tucci (2010). But it is possible that innovation activities are also equally affected by economic growth an...
The resulting capital accumulation leads to economic growth. He discusses the comparative statics and simple dynamics of this model and uses the model to study the effects of financial liberalization as well as changes in patent laws and accounting standards. The model may be extended to include ...
raises the efficiency of financial intermediation by increasing the variety of financial products and services, resulting in improved matching of the needs of individual savers with those of firms raising funds for expanding future products. The resulting capital accumulation leads to economic growth” (...
This market process leads to both direct and (more long-term) indirect effects. There are two direct effects. First, if entrepreneurial commercialization is suc- cessful, new capacity and new structures are created, either by the founding of new firms or the expansion of existing ones. The ...
Gu Qingyang, a scholar at the National University of Singapore, said the extensive application of China's sci-tech accomplishments not only leads to its domestic industrial upgrading, but also lends impetus to the neighboring areas. Similarly, at the World Economic Forum Annual Meeting 2023 earlier...
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Innovation leads the future Innovation has changed the past, and it will continue to lead us into the future. Just as the industrial revolution has greatly promoted the extension of human strength, the present information revolution has greatly expanded human intelligence. The wisdom of the earth ...
Endogenous growth theory suggestes that human capital leads to greater innovation and, through technology innovation and diffusion, contributes to economic growth. Using the Chinese provincial data, this study estimates the effect of human capital on innovation based on spatial regression models, specifica...