The paper first discusses alternative theoretical frameworks to analyse the impacts of FDI on host economies. Second, it provides an overview of major developments in the Hungarian automotive industry since the early 1990s, discussing both firm strategies and the macro level factors influencing...

While purposive action is widely viewed as a sine qua non of entrepreneurship, the purpose of such purposive action, is often muted. We submit that exploring the purpose of entrepreneurial behavior, can yield valuable insights into the study of entrepreneurship. We leverage Ronald Coase's...

The increasing turbulence of the economic environment leads to changes in the business style, and adapting to this new style requires a cluster approach. In this sense, the goal of the research relates to determining the impact of the cluster internal and external interaction on innovative...

Nowadays the innovation is one of the most important determinant for increasing the wealth of the nations. The patterns of technological innovation are studied by Economics of innovation. The aim of this paper is to prove that the origins of the Economics of innovation go back to many years...

Joseph Schumpeter est un des derniers intellectuels a avoir eu une vision encyclopédique de l’économie et des sciences sociales. Il a développé une explication des cycles basé sur une théorie de l’innovation, de la « destruction créatrice » et des entrepreneurs qui cherchent à se...

This paper presents the origins of the Economics of innovation describing the economic thought of the economists in the Eighteenth and Nineteenth centuries. In this period and in particular during the Industrial Revolution the economists argue the main effects of inventions and machines for...

John Rae has recently been rediscovered as a precursor of the endogenous growth theory. This study argues that Rae needs to be rediscovered a second time for his original contribution to clarify the role of the innovation and technical change within the economic systems. The aim of this paper is...

This study suggests that the origins of the economics of technical change go back to many years before Schumpeter’s contributions. The Scottish philosopher John Rae with his book Statement of Some New Principles on the Subject of Political Economy, issued in 1834, put forward the basis of the...

To generate new knowledge as output of the business processes represents the basis of the most substantial competitive advantages. This transforms the speed of the business processes in the key factor of competitiveness. Time becomes the absolute criterion in the delimitation of the competitive...

The foundation of new economies has shifted from natural resources to intellectual assets and top managers have been forced to focus on Knowledge Management that has been acknowledged as the most important resource and capability of modern firms’ advancement. Knowledge-creating companies may...