APPLYING NEXT GENERATION TOOLS, DATA, AND ECONOMIC COMPLEXITY IDEAS

LIPARI SUMMER SCHOOL: Is Schumpeter Still a Useful Guiding Light for Global Innovation and Growth Research?

09-09-2015
Location: 
Lipari, Italy

Prof. Gerald Silverberg: 09:00 - 10:30

Abstract:

Joseph Schumpeter provided most of the fundamental concepts still used in innovation studies today: radical vs. incremental innovation; clustering of innovations; innovation as recombinant creativity; long waves of economic growth. With the increasing availability of empirical data on the one hand (e.g., patent citation networks; exports disaggregated by product type), and improvements in statistical and complexity analysis on the other (e.g., extreme-value statistics, Poisson regression, network analysis), it is now possible to operationalize and test some of these ideas. In this overview, I will examine to what extent Schumpeter’s original concepts have held up, to what extent they need to be reformulated, and what new hypotheses emerge from an application of modern methods to data sources Schumpeter could only have dreamed about.