The Economics of Industrial Innovation

First published in 1997. Massive technological development has changed the face of industry drammatically. This text provides an analysis of the trends and dynamics of innovation in industry. It has been updated with recent statistical information and examples. A new section explores the debate surrounding macroeconomics in an analysis of the impact of globalization on industrial change. This book covers such topics as: the rise of science-related technology; innovations and the firms; macroeconomics of innovation; and innovation and public policies.

Part 1 Rise of science-related technology: introduction; evolutionary theory in economics and technical change; process innovations; materials innovations; product and system innovation; paradigm change. Part 2 Innovations and the firms: the microeconomics of innovation; success and failure, the role of marketing and user-producer networks; innovation, size of firm, economies of scale and scope; uncertainty, project evaluation and finance of innovation, management strategy and theory of the firm. Part 3 Macroeconomics of innovation - science, technology and economic growth; globalization and multinational corporations; underdevelopment and catching up. Part 4 Innovation and public policies: market failure and aspects of public support for innovation; technical change, employment and skills; environmental issues; technological assessment. Appendix: measurement and definitions.

Chris Freeman (Professor Emeritus, Science Policy Research Unit, University of Sussex) (Author),Luc Soete (Professor of International Economics, University of Maastricht, Netherlands)