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Modern economies have undergone a dramatic change.  There has been a shift from large scale material manufacturing to the design and application of new technology with R&D and human capital.  The new information age has introduced significant productivity gains through increasing returns and learning by doing, which has challenged the traditional growth models based on competitive market structures.  Institutions outside the traditional markets and the genetic principle of survival of the fittest have dominated the current theory of industry growth.   This book coordinates and integrates the two strands of economic growth and development: the endogenous theory of growth and the extra-market models of evolutionary economics dominated by innovation efficiency.  It presents this new paradigm in terms of both theory and historical experiences.  The book addresses the role of innovations and human capital, the impact of information technology, the role of institutions as mechanisms of evolutionary economies and the experiences of Asian growth miracles, and will be of interest to readers in economics and political science concerned with economic growth and development.

Economic development. --- Economics. --- Endogenous growth (Economics). --- Economic development --- Endogenous growth (Economics) --- Business & Economics --- Economic Theory --- Economic theory --- Political economy --- Political science. --- Economic theory. --- Economic growth. --- Economic Growth. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Political Science. --- Social sciences --- Economic man --- Administration --- Civil government --- Commonwealth, The --- Government --- Political theory --- Political thought --- Politics --- Science, Political --- State, The --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse

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The current economic theory of innovation mainly analyses the technology factor and its impact on economic growth. In today's world, growth in information technology and knowledge of new ideas has altered the business paradigm dramatically. Modern economies have undergone a dynamic shift from material manufacturing to a new information technology model with research and development (R&D) and human capital. Through information and communications technology efficient information usage has achieved substantial productivity gains through learning by doing and incremental innovations. The present volume discusses this new paradigm in terms of both theory and industry applications, including Schumpeter in his innovation model and the emphasis on new innovations replacing the old. Growth of business networking and R&D consortium have dramatically helped the modern business to reduce their unit costs and improve efficiency. This volume presents some new models emphasizing knowledge sharing and R&D cooperation. Rapid growth in recent times in some south Asian countries have been cited as growth miracles are largely caused by knowledge spillover and learning by doing, and this volume also investigates the role of incremental innovations. With a strong focus and extension of the current theory of innovation and industry growth experiences of both the US and Asian countries, this book will be of interest to MBA and graduate students in economics, innovation management, and applied industrial economics.

Technological innovations. --- Industrial management. --- Business administration --- Business enterprises --- Business management --- Corporate management --- Corporations --- Industrial administration --- Management, Industrial --- Rationalization of industry --- Scientific management --- Breakthroughs, Technological --- Innovations, Industrial --- Innovations, Technological --- Technical innovations --- Technological breakthroughs --- Technological change --- Management --- Economic theory. --- Economic policy. --- Economic growth. --- Economics. --- Economic Growth. --- R & D/Technology Policy. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Business --- Industrial organization --- Creative ability in technology --- Inventions --- Domestication of technology --- Innovation relay centers --- Research, Industrial --- Technology transfer --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse

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Economic growth --- Economic schools --- economische groei --- economisch denken

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Economic growth --- Economic conditions. Economic development --- anno 2000-2099 --- India

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Economic growth --- Economic development --- Economic policy --- Human capital --- Information technology --- 338.9 --- IT (Information technology) --- Technology --- Telematics --- Information superhighway --- Knowledge management --- Human assets --- Human beings --- Human resources --- Capital --- Labor supply --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Development, Economic --- Growth, Economic --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic value --- Economic development. --- Economic policy. --- Human capital. --- Information technology.