The Political Economy of Innovation Development: Breaking the Vicious Cycle of Economic Theory By Iurii Bazhal
English | PDF | 2017 | 136 Pages | ISBN : 3319548514 | 5.85 MB
This book finds that the R&D and technological innovation of a country is not a result, but a factor, of sustained economic growth. Bazhal develops Schumpeter's theory to argue that genuine economic growth - especially in transitioning and developing countries - is only possible with innovation. With a particular focus on the work of Ukrainian economists, Tugan-Batanobvsky and Vernadsky, the text seeks to move the discipline forward and explain why innovation has become a primary factor of economic development in recent decades and why its role will become even more dominant in the future.