TY - BOOK ID - 14734601 TI - Macro Innovation Dynamics and the Golden Age : New Insights into Schumpeterian Dynamics, Inequality and Economic Growth PY - 2017 SN - 3319503677 3319503669 PB - Cham : Springer International Publishing : Imprint: Springer, DB - UniCat KW - Evolutionary economics. KW - Macroeconomics. KW - International economics. KW - Economic policy. KW - Economic growth. KW - Asia KW - Economics. KW - Macroeconomics/Monetary Economics//Financial Economics. KW - Economic Growth. KW - Institutional/Evolutionary Economics. KW - R & D/Technology Policy. KW - International Economics. KW - Asian Economics. KW - Economic conditions. KW - International economic relations. KW - Economic policy, Foreign KW - Economic relations, Foreign KW - Economics, International KW - Foreign economic policy KW - Foreign economic relations KW - Interdependence of nations KW - International economic policy KW - International economics KW - New international economic order KW - Economics KW - Economic policy KW - International relations KW - Economic sanctions KW - Asia-Economic conditions. KW - Economic nationalism KW - Economic planning KW - National planning KW - State planning KW - Planning KW - National security KW - Social policy KW - Development, Economic KW - Economic growth KW - Growth, Economic KW - Statics and dynamics (Social sciences) KW - Development economics KW - Resource curse KW - Asia—Economic conditions. UR - https://www.unicat.be/uniCat?func=search&query=sysid:14734601 AB - This book takes a new look at the golden age in neoclassical growth theory and explores in detail sustainability and optimum growth in China, the US and Europe. Innovation, foreign direct investment, trade and growth dynamics are key elements in modern economies – including perspectives on green growth and aspects of the knowledge production function in the context of multinational companies. As such the book considers the role of foreign direct investment in a modified growth model and discusses innovation in an enhanced Mundell-Fleming macro model. Moreover, for the first time it directly links a knowledge production function to the macro production function in a broader context, including real money balances in the production function. It shows – also with empirical relevance – that FDI inward stocks relative to the GDP of host countries, the number of researchers and per capita income are relevant drivers of new knowledge and the stock of knowledge, respectively. This new Schumpeterian theoretical approach lends itself to important policy conclusions for both OECD members and newly industrialized countries. ER -