By Marcela Miozzo
Technological switch is crucial in explaining commercial management, however the relationships and interactions among medical examine, business innovation, and competitiveness are neither transparent nor trouble-free. This e-book analyses the position of technological swap within the competitiveness of organizations and nationwide economies.
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Extra resources for International Competitiveness and Technological Change
Furthermore, these are not freely available, but Wrm speciWc, and both the result and cause of technological specialization in certain areas. As argued earlier, with the notable exception of Schumpeter, most economic thinking on technical change has treated it as an exogenous variable. The early work of Solow (1957) found that an exogenous ‘residual’ associated with technical change accounted for up to one-half of the US economy, according to calculations that related national output to capital and labour inputs only.
The selection environment is the environment into which an innovation is launched. It is a wider concept than that of the market, which includes the market but also other institutions and individuals which determine whether or not a market can exist, such as government regulations, industry standards, and intermediates who test and recommend innovative products (as doctors do in the case of drugs) (Nelson and Winter 1977). These contributions have made scholars aware of the need to look into the eVects of the development of technological and organizational changes at the level of Wrms and industrial sectors to understand the source and nature of competitiveness.
There is little concern about the strength of Wrms’ technological, organizational, and business capabilities, or how these may diVer at diVerent stages of development in diVerent countries. There is also little concern with the links between Wrms and the wider science and technology infrastructure. There is one question on how relocation of R&D facilities aVect the future of the economy but most questions refer to the ease of credit Xows to business, development of banking services, and the deWnition of rights and responsibilities of shareholders.