Entrepreneurship, Innovation, And Growth
- Topics:
- Efficiency,
- Organization,
- Small Business
- Tags:
- Entrepreneurship,
- Growth,
- Innovation,
- Leadership,
- Management,
- Solow,
- Strategy
- Source:
- Stanford University
FREE Registration is required
Overview: The three basic sources of growth in any economy are growth in inputs of production, improvements in the efficiency of allocation of inputs across economic activities, and innovation that generates new products, new uses for existing products and brings about increases in the efficiently of use inputs. Solow's (1957) path-breaking analysis of growth in the US economy during the first half of the twentieth century showed that the contribution of growth in inputs of production, namely labour and capital to aggregate growth, was around half, and the remaining half, that is the unexplained Solow residual, is commonly attributed to technical progress or the contribution of innovation in the sense the author have used the term.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 127KB | Date: Aug 2003 | Pages: 49
