Modelling the Impact of Network Social Capital on Business and Technological Innovations

Yuan K. Chou

No 890, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: In this paper, we construct a macroeconomic growth model where social capital embedded in collaborative networks of firms (such as corporate partnerships and research consortia) increase the rate of technological and business innovations in high-tech industries. Social capital is created via network-building activities and through “learning-by-doing”. We derive the optimal quantity of resources that should be channelled away from pure production into activities that build network social capital, and study both the comparative statics and transitional dynamics of the model. We also examine the implications of the model for policymakers interested in formulating innovation policies.

Keywords: Technological progress; business innovations; social capital; economic growth (search for similar items in EconPapers)
JEL-codes: O31 O41 Z13 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2003
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