ADJUSTING THE GLOBAL ECONOMY INNOVATION DEVELOPMENT TO THE SLUGGISH CRISIS: HOW LONG "INNOVATION PAUSE" LASTS?

Igor E. Frolov

Economy & Business Journal, 2016, vol. 10, issue 1, 424-439

Abstract: The author puts forward the hypothesis that in last few decades, the social mechanisms that reproduce economic cycles has grown complicated and that, in particular, led to a significant decrease of innovation efficiency as a growth boosting mechanism, and has resulted in an "innovation pause". The current development of the world economy is moving to a new stage under deep transformation process. In the long term, the innovative processes would not be developed on the base of traditional technological innovations, but rather on a new type of financial innovation that is Impact investments.

Keywords: societal objectivization; financial crisis; economic cycles; non-market economy; reproduction; innovation (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:isp:journl:v:10:y:2016:i:1:p:424-439

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