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The Value of Industry Studies: Impact of Luigi Orsenigo’s Legacy on the Field of Innovation and Industry Evolution

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Innovation, Catch-up and Sustainable Development

Part of the book series: Economic Complexity and Evolution ((ECAE))

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Abstract

New solutions in artificial intelligence and machine learning require researchers to study, in greater depth, the nature, and dynamics of emerging industries like biotechnology or pharmaceuticals. With his pioneering work, Luigi Orsenigo has demonstrated, in great detail, how new technologies create technological opportunities, change appropriability conditions, and cumulativeness in these emerging industries. Rooted in the evolutionary economics tradition, this approach is better suited in explaining the patterns of innovation, technological change, and the growth in very dynamic industries. In this context, our article reviews the evidence of Luigi Orsenigo’s contribution to the economics of innovation, to the tradition of history-friendly models, and to the discussion on the sectoral system of innovation. It concludes by pointing at some unresolved questions in these traditions and new fruitful alleys for future researchers.

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Notes

  1. 1.

    In Luigi Orsenigo’s lifelong academic research, he developed theory and methodologies with his co-authors. We use the term legacy to discuss his contribution to the academy through the joint works.

  2. 2.

    System of innovation is oriented toward the macro level, and the Mode 2 argument is concerned almost exclusively with the conditions for the organization and production of knowledge.

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Authors and Affiliations

  1. School of Finance & Economics, Jiangsu University, Zhenjiang, China

    Junguo Shi

  2. Institute of China Studies, Seoul National University, Seoul, South Korea

    Junguo Shi

  3. School of Innovation Sciences, Eindhoven University of Technology, Eindhoven, the Netherlands

    Bert M. Sadowski

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  1. Junguo Shi
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Correspondence to Junguo Shi .

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Editors and Affiliations

  1. Department of Innovation Economics, University of Hohenheim, Stuttgart, Germany

    Andreas Pyka

  2. Department of Economics, Seoul National University, Seoul, Korea (Republic of)

    Keun Lee

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Shi, J., Sadowski, B.M. (2021). The Value of Industry Studies: Impact of Luigi Orsenigo’s Legacy on the Field of Innovation and Industry Evolution. In: Pyka, A., Lee, K. (eds) Innovation, Catch-up and Sustainable Development. Economic Complexity and Evolution. Springer, Cham. https://doi.org/10.1007/978-3-030-84931-3_5

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