Nonlinear dynamism of innovation and business cycles

Masaaki Hirooka ()
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Masaaki Hirooka: Institute of Technoeconomics

A chapter in Entrepreneurships, the New Economy and Public Policy, 2005, pp 289-316 from Springer

Abstract: Abstract The aim of this paper is to describe the nonlinear dynamism of innovation and to clarify the role of innovation for economic development in terms of Kondratiev business cycles, especially the causal relation of the bubble economy and depressions with innovations. Any paradigm of technological innovation develops within a definite time span reaching maturity. This nonlinear nature clarifies many characteristic features of innovation. Schumpeter’s innovation theory on business cycles is examined through this dynamism. Trunk innovation is defined as that which plays a decisive role in building infrastructures and inducing subsequent innovations. Every innovation has its own technological development period just before the innovation diffusion. The emergence of new markets can be estimated by chasing the ongoing technologies.

Keywords: Nonlinear dynamism of innovation; Infrastructure; Business cycles; Bubble and depression; Technology foresight (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-26994-6_16

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DOI: 10.1007/3-540-26994-0_16

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