Journal of Evolutionary Economics

, Volume 17, Issue 5, pp 649–652 | Cite as

Masaaki Hirooka (ed): Innovation Dynamism and Economic Growth: A Nonlinear Perspective

Edward Elgar Publishing, 2006
  • Chihiro WatanabeEmail author
Book Review

This book takes a new approach to the economics of technological change to clarify the interrelation between innovation and economic development. Schumpeter ascribed economic development to innovation. This study demonstrates this postulation with a variety of empirical evidence and deepens the concept of innovation. Further, this book investigates innovation itself beyond the domain of economics and explores how the economic scenario of technological change can be clarified in the light of science and technology. In particular, it examines the latent period of the technological development, which has often been ignored in conventional economics and treated as a black box. This is the first attempt at a comprehensive description of the innovation paradigm, from the original invention, through core technology development and new product development to market development.

An innovation is shown to be composed of three trajectories: the technology trajectory of core technology...

Copyright information

© Springer-Verlag 2007

Authors and Affiliations

  1. 1.Department of Industrial Engineering & ManagementTokyo Institute of TechnologyTokyoJapan

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