 Dynamics of innovation over time: Evidence from the Spanish business eliteStructural Change and Economic Dynamics, 2024, vol. 69, issue C, 378-394 Abstract: Although Spain was not a leading country in technology, it generated numerous innovations, which must be analyzed in order to understand its particular development trajectory. This paper makes a contribution in this line by quantifying the innovation activity of the country's business elite between c. 1870 and 1970. In addition, we have sought to verify whether some of the well-known debated dynamics of innovation over time are fulfilled in this case. First with a descriptive analysis and then through the VAR technique, it has been found that innovation occurred in waves, as Schumpeter pointed out despite Kuznets; major innovations were followed by incremental advances; process innovations predominated in the early stages of modern development and product innovations gained preponderance later; and that indigenous innovation favored the importation of technology. A structural break test has identified sharp fluctuations in innovation, apparently related to institutional factors and relevant changes in the economy. Keywords: Innovation dynamics; Significant innovations; Patents; Spanish business elite; Granger causality (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:69:y:2024:i:c:p:378-394 DOI: 10.1016/j.strueco.2024.01.001 Access Statistics for this article Structural Change and Economic Dynamics is currently edited by F. Duchin, H. Hagemann, M. Landesmann, R. Scazzieri, A. Steenge and B. Verspagen More articles in Structural Change and Economic Dynamics from Elsevier |
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