A Theory of Innovation: Market Transition, Property Rights, and Innovative Activity
Författare
Summary, in English
The aim of this paper is to specify a theory to explain why transitions to a market economy cause a shift to a higher level of innovation. Marketization increases the power of economic actors relative to political actors, increases inter-firm competition, creates new opportunities for entrepreneurship, and subsequently motivates innovative activity. For our empirical application, we focus on China's transition economy, which offers a broad range of institutional environments to examine the relation between market transition and increasing innovative activity by entrepreneurs and firms. (JEL: O 31, P 31, P 3)
Avdelning/ar
Publiceringsår
2010
Språk
Engelska
Sidor
397-425
Publikation/Tidskrift/Serie
Journal of Institutional and Theoretical Economics
Volym
166
Issue
3
Dokumenttyp
Artikel i tidskrift
Förlag
Mohr Siebeck
Ämne
- Economics
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 0932-4569