By Zoltan J. Acs
‘Zoltan Acs has produced one of many significant works of the previous decade or that is helping to provide an explanation for why towns develop. A vital premise and one supported through empirical research through the e-book is that entrepreneurship is a crucial neighborhood task that interprets uncooked wisdom (that incidentally is proven to be hugely neighborhood) into rules and start-ups that develop and underpin and maintain metropolitan progress. this can be a needs to learn for all scholars and students of city and nationwide financial development and comparable policies.’
- Roger R. Stough, George Mason college
‘Innovation is the driver of the dynamics of areas and towns. Innovation notwithstanding, isn't an self sufficient miracle, yet is rising out of data production and adoption. therefore, wisdom creation is on the center of financial growth. Zoltan Acs deals during this e-book an excellent review and convincing empirical facts at the attention-grabbing dating among winning entrepreneurship and knowledge-intensive parts. His rules shape a distinct mixture of parts from the hot monetary geography, the hot progress concept and the hot innovation economics concept and supply an intensive research of the altering financial panorama within the US.’
- Peter Nijkamp, unfastened college, Amsterdam, The Netherlands
‘Acs’s publication demonstrates the hyperlink among entrepreneurship, geographic proximity and fiscal development. It identifies the lacking hyperlinks from quite a lot of viewpoints and with a contemporary empirical taste. It indicates right surroundings is required for the belief to begin a company and to give a contribution to the commercial improvement of this setting. Acs offers very important interpreting for lecturers and policymakers aiming to appreciate the position of spillovers and clusters while explaining the expansion of towns. He captures the essence of the commercial dynamics of towns within the glossy economy.’
- Roy Thurik, Erasmus college Rotterdam, The Netherlands
This new and unique e-book by way of Zoltan Acs explores the connection among business innovation and fiscal progress on the neighborhood point and reaches conclusions as to why a few areas develop and others decline. whereas the research attracts on commercial association, hard work economics, neighborhood technological know-how, geography and entrepreneurship, the ebook makes a speciality of innovation and the expansion of towns by way of endogenous progress conception.
The writer argues that business innovation is the motive force at the back of future nearby development, and explores the problems of the way expertise and entrepreneurship can foster and advertise development on the nearby point.
With its multidisciplinary technique, Innovation and the expansion of towns may be warmly welcomed by means of lecturers and researchers alike within the components of innovation and technology, neighborhood technology and geography, entrepreneurship and evolutionary economics.
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Extra info for Innovation and the Growth of Cities
39, indicating that overall these areas have achieved some specialized advantage for the industry; indeed, on average, the technological knowledge which entrepreneurs in these areas capitalized on in starting new technology-intensive firms. 2 How do states compare on various measures of innovative activity? 66 19 1 16 9 14 22 4 10 20 24 21 23 8 7 12 15 3 2 6 13 5 26 25 18 11 % High-tech workers 41 37 35 39 31 10 28 21 23 37 17 29 33 15 27 20 30 22 22 33 23 16 31 26 24 Rank 1 4 5 2 10 42 14 26 22 3 33 13 7 36 16 27 11 24 23 6 20 35 9 17 19 Source: Number of innovations is from the SBA Innovation Data.
25 the greater the extent to which an industry is composed of large firms the greater will be the innovative activity, but, ceteris paribus, the increased innovative activity will tend to emanate more from the small firms than from the large firms (Acs and Audretsch 1988); there does not appear to be any evidence that increasing returns to R&D expenditures exist in producing innovative output. With just several exceptions, diminishing returns to R&D are the rule (Acs and Audretsch 1991). Taken together, these studies comprise the new learning about innovative activity – both its sources and its consequences (Acs and Audretsch 1993b).
Using the patent measure for a single year yields virtually identical results to those based on the pooled estimation reported in Jaffe’s article. That is, both private corporate expenditures on R&D and expenditures by universities on research are found to exert a positive and significant influence on patent activity. Similarly, both the geographic coincidence effect and the population variables have positive coefficients. 713 estimated by Jaffe using the pooled sample. We conclude that using a single estimation year does not greatly alter the results obtained by Jaffe (1989) using several years to measure the extent of patent activity.
Innovation and the Growth of Cities by Zoltan J. Acs