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Because Hayek’s view goes beyond the Walrasian framework, his descriptive arguments on socialist planned economies are prone to be misunderstood. This paper clarifies Hayek’s arguments by using them as a basis to construct a model of total factor productivity. The model shows that...
Persistent link: https://www.econbiz.de/10008855541
In this paper, a theory of total factor productivity (TFP) that incorporates a model of intelligence is formulated and described. In particular, the fluid intelligence of ordinary workers is emphasized as an important element in TFP because such workers have the intelligence to innovate, even...
Persistent link: https://www.econbiz.de/10011259766
Innovation is widely recognised as a key driver of economic growth and competitiveness. But, some works focus … especially on analyzing the determinants and the effects of innovation while distinguishing between its various types (product … innovation, process innovation, radical innovation and incremental innovation). The analysis of the determinants is certainly …
Persistent link: https://www.econbiz.de/10009018269
This paper investigates the channels through which macroeconomic volatility prevents or hinders innovative investment undertakings financed by the domestic business sector. The analysis is based on a sample of 48 countries, representing all levels of development, and uses various measures of...
Persistent link: https://www.econbiz.de/10011108135
paper is to examine to what extent outsourcing relationships can be a source of innovation in industrial services using a …. Our results support the evidence of positive effects of outsourcing service activities on the capacity of innovation. This …
Persistent link: https://www.econbiz.de/10011111087
This paper investigates the channels through which macroeconomic volatility prevents or hinders innovative investment undertakings financed by the domestic business sector. The analysis is based on a sample of 48 countries, representing all levels of development, and uses various measures of...
Persistent link: https://www.econbiz.de/10011111699
innovation undertakings. …
Persistent link: https://www.econbiz.de/10011112851
innovation undertakings. …
Persistent link: https://www.econbiz.de/10011113372