Ever since the start of the Industrial Revolution in Britain in the 1760s, innovation and investment have been crucial elements in economic explanations of the dynamics of capitalism. Classical economics recognises that innovation embodied in the form of new machines through fixed capital...

This paper is a preliminary attempt to map the changing tastes for works of art as manifested in the prices of paintings sold at auction. There are two main goals in this work: first, to describe a space in which we can represent the work of different artists; and second, to describe how...

Issues of European governance are currently at the fore of the debate on Europe’sfuture. Deliberations on the White Paper, which has recently been released (July 25,2001), have been encouraging and have reaffirmed the status of governance at theEuropean level to be a worthwhile subject of...

This paper contributes to the understanding of the importance of dynamic firm capabilities for corporate performance in isolating the effect of core competences on the performance of companies. It discusses and tests the assumed relation between core competences and economic performance,...

In this article we assume two levels of skills and two classes of goods, one produced with a technology requiring high skills, the other produced with a technology that can be operated by both low and high skilled workers. Our model generates two distinct labour market regimes. In one regime we...

This paper undertakes a brief evaluation of the trends in the internationalization of innovative activities. We provide a taxonomy of R&D internationalization strategies, and discuss the main relevant theoretical and empirical issues, before discussing the centripetal and centrifugal forces...

When new technologies are introduced in the production process or when technological change is incorporated in an economic model, it is agreed upon that this reduces the demand for low-skilled labour relative to the demand for high-skilled labour. In general the rationale for this argument is...

This article focuses on issues concerning science and technology relationships posed by the emergence of a new drug discovery method, namely, combinatorial chemistry and biology. We assess the scientific content of combinatorial chemistry and biology using citations in patents to scientific...

The curse of natural resources is a well-documented phenomenon in developing countries. Economies that are richly endowed with natural resources tend to grow slowly. Among the transition economies of the former “Eastern Bloc”, a similar pattern can be observed. This paper shows that a large...

We derive the central differential equation of the neoclassical growth model for the case of a CES (constant elasticity of substitution) production function with perfect capital movement in terms of the debt/GDP ratio and estimate it in several ways for the United States and in a later step the...