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The technological innovation system is a concept developed within the scientific field of innovation studies which serves to explain the nature and rate of technological change. [1] A Technological Innovation System can be defined as ‘a dynamic network of agents interacting in a specific economic/industrial area under a particular ...
Innovation economists believe that what primarily drives economic growth in today's knowledge-based economy is not capital accumulation as neoclassical economics asserts, but innovative capacity spurred by appropriable knowledge and technological externalities. Economic growth in innovation economics is the end-product of: [5] [6]
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4]Economics focuses on the behaviour and interactions of economic agents and how economies work.
Conversely, modern technology dynamics studies generally advocate that technologies are not "self-evident" or market-demanded, but are the upshot of a particular path of technology development and are shaped by social, economic and political factors. in this sense, technology dynamics aims at overcoming distinct "internal" and "external" points ...
Therefore, technology is identified as a problem-solving activity in which the problems to be solved are selected by the paradigm itself. In this sense, a technological paradigm entails strong prescriptions on the direction of technological change, that is the direction toward which future technical improvements will converge. Such gradual ...
Specialized suppliers: smaller, more specialized firms producing technology to be sold into other firms, e.g. specialized machinery production and high-tech instruments. There is a high level of appropriability due to the tacit nature of the knowledge.
In the study of innovation systems, a regional innovation system (RIS) encourages the rapid diffusion of knowledge, skills and best practice within a geographic area larger than a city, but smaller than a nation. The edge of a regional innovation system may be drawn conceptually and organizationally around the economic, social, political and ...
Technology Gap Theory is a model developed by M.V. Posner in 1961, which describes an advantage enjoyed by the country that introduces new goods in a market. [1] The country will enjoy a comparative advantage as well as a temporary state of monopoly until other countries have achieved the ability to imitate the new good.