Modern growth theory acknowledges that a country's economic prosperity depends in large part on its capacity for technological innovation. Empirical evidence, however, supports the view that not all sectors are equally innovative. As a result, it seems desirable from a public policy perspective...

This paper is an attempt to tease out a typology of economic sectors based on a systems approach to innovation and economic growth that may be useful for policy analysis. The typology explored here revolves around novel products rather than ethereal knowledge-producing entities. This insight...

In the earlier years of the twentieth century economists were beginning to gain a deeper understanding of the nature of the economic change. Joseph Alois Schumpeter, for example, argued that the first key step in understanding economic change is to think carefully about innovation. When Kuznets...