

Title |
Building an innovative economy through managed creative destruction
Similar Titles
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Sub Title | A theory with applications to South Korea |
Material Type | Reports |
Author(English) |
Khan, Haider |
Publisher |
University of Denver |
Date | 2008 |
Pages | 31 |
Subject Country | South Korea(Asia and Pacific) |
Language | English |
File Type | Documents |
Original Format | |
Subject | Economy < Economic System Industry and Technology < Science/Technology |
License | ![]() |
Abstract
This paper presents a somewhat novel theory of innovation in the economy wide setting. The starting point for this theory is the creative destruction process at the firm and industry level. However, an extension to an economy wide setting requires the explicit theorization of the role of the state as well as an interacting nonlinear market process. The direction in which the theory leads is a complex interaction between state policies and market processes that influence the decisions taken by specific firms in particular areas of innovative activities. The key concept that is developed in this context can be called a Managed Creative Destruction(MCD) process. In a national (or regional) MCD, the creative destruction process characterizing innovation is structured more consciously by the state (or the states in a particular region). It can be argued that China is now going through this process. (The rest omitted)