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Download Macro Innovation Dynamics and the Golden Age: New Insights by Paul J. J. Welfens PDF

By Paul J. J. Welfens

This ebook takes a brand new examine the golden age in neoclassical progress concept and explores intimately sustainability and optimal development in China, the united states and Europe. Innovation, international direct funding, alternate and development dynamics are key components in glossy economies – together with views on eco-friendly progress and facets of the information creation functionality within the context of establishment businesses. As such the ebook considers the position of overseas direct funding in a transformed development version and discusses innovation in an improved Mundell-Fleming macro version. in addition, for the 1st time it without delay hyperlinks an information creation functionality to the macro construction functionality in a broader context, together with genuine cash balances within the creation functionality. It indicates – additionally with empirical relevance – that FDI inward shares relative to the GDP of host international locations, the variety of researchers and in keeping with capita source of revenue are correct drivers of recent wisdom and the inventory of information, respectively. This new Schumpeterian theoretical process lends itself to special coverage conclusions for either OECD individuals and newly industrialized countries.

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Extra info for Macro Innovation Dynamics and the Golden Age: New Insights into Schumpeterian Dynamics, Inequality and Economic Growth

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32 1 Green Innovations and CO2 in a Growth Perspective: A Neoclassical Model As regards empirical analysis, Ziegler et al. (2009) consider the question of whether or not green companies show outperformance on the stock market: more precisely, the authors looked into the question of whether an investor that invested preferably into firms that had reacted with a strong innovation feedback to climate policy—and sold firms with a weak feedback—achieved a better portfolio performance than the average investor.

As per capita output growth is too high, the CO2 per capita emissions are also too high. This is not only a problem for China, but it contributes to global warming so that negative international externalities occur. The topic of optimal taxation should be picked up in a new way: The inherent logic of the government budget constraint and the ideas developed here suggest a careful look into the determination of the adequate subsidy rate and the Pigou rate, on the one hand, and the determination of the income tax rate, on the other hand.

2 ICT and Dematerialization PC Notebook Handheld Personal organizer (paper-based) Weight excl. 4 Abiotic raw materials (kg) 1500 434 81 4 Material intensity factor (kg/kg) 65 155 101 10 Last column shows the relative ecological rucksack relevant for the respective ICT product Source: Information obtained from Wuppertal Institute for Climate, Environment and Energy China’s Perception of ICT (Quote from W. QIMING) “As you know, we are now living in the ‘Information Age’. Modern technologies, such as information technology, biotechnology, new materials and aerospace technologies, have dramatically changed the way we live.

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