The new evidence provided by the codification of intangible assets in national accounts and firm statistics offers the opportunity to test the Schumpeterian creative response hypothesis that: i) the generation and exploitation of knowledge are characterized by high levels of risk; ii) firms in...

This Element combines the advances of the economics of knowledge and innovation implementing the Schumpeterian notion of creative response to understand the determinants and the effects of the rate and direction of technological and organisational change and its variance across time and space,...