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...

This paper examines the institutional arrangements that develop when the risks of opportunism and other contributors to transaction costs are high but transactions are nevertheless necessary for economic efficiency. Williamson's famous distinction between markets and hierarchies is inadequate...