Economics of the Firm and Economic Growth. An hybrid theoretical framework of analysis

The characterization of individual firms is an essential step toward the study of the behaviour of industries and other more aggregated units of economics, and so to the analysis of economic growth processes. Hence, the main goal of this study is to achieve a critical discussion around the conceptualisation of the firm and its role in the dynamical process of economic growth. The approach to the main topic starts with the construction of a theoretical matrix of the economics of the firm, opening with the two major traditions of institutionalist thought in economics, and evolving then towards some considerations around the contractual and the evolutionary approaches. Another important theoretical stream that deals with organizations in economic and sociological terms also appears, the population ecology approach. After this overview, it is developed a cross-exam of distinct theoretical perspectives and the identification of possible flaws of the neoclassical theory. This confrontation, which goes throughout many imperative and controversial issues within economics such as the nature of the firm and the cognitive capacities of economic agents, results in a systematisation about the impact of this discussion on economic growth. The conclusions appear as crucial to develop further research aiming the construction of economic growth models based on a microeconomics that is closer to the reality of firms.Firm; Economic Growth; Institutionalism; Evolutionary theory; Contractual Theory; Ecology Population Theory.

Surveying structural change: seminal contributions and a bibliometric account

The main aim of this paper is to provide a comprehensive survey of the economic literature on structural change. Along with an insightful literature review of the seminal contributions in the field, we perform a quantitative analysis that takes into account all the theoretical and empirical articles on the subject that were published from 1969 onwards. This effort to gather the relevant documentation is based on a review of 910 abstracts from articles published in all the economic journals found in the Econlit database over the past forty years. According to our quantitative analysis, structural change analysis received a major boost in the 1990s, with a considerable increase in the number of articles published on the matter. The marked rise in interest seems to be primarily related to the growing concern to find explanations for the process of technological change and its effects on the economy. In the first half of the current decade technological change comprises a predominant area of research, accounting for about one quarter of the articles published. Despite the increased formalism observed in the 1990s, our results further highlight that the bulk of the research in this field remains empirically led. Furthermore, and quite surprisingly, discussions concerning ICTs do not seem to have been translated so far into a substantial increase in research on structural change-related issues.Structural Change; Bibliometrics; Econlit

A model of the learning process with local knowledge externalities illustrated with an integrated graphical framework

In this paper we present a theoretical model of the learning process with knowledge externalities to R&D and other learning inputs within a region, a technological district, an industry or a technological cluster with fast rates of accumulation of new technological knowledge. As there are several definitions of localized technological and learning opportunities (according to the technical space, or to the regional space) and of localized technological knowledge, we can therefore find several possible applications to the generic model. The analysis of the learning firm interacting with a specific region in the production of new technological knowledge is just one of them. The analytical model we develop is amenable to a graphical representation. Thus we provide in the first place a unifying graphical framework, consisting of a four-quadrant picture to analyze the process of knowledge accumulation by learning firms located and operating in a specific region or industry, which simultaneously stresses the nature of the basic learning process and the importance of true knowledge spillovers in the generation of new knowledge. We adopt the following approach to the construction of spillover stocks or pools. First, the magnitude of the state of aggregate knowledge in a region or industry is reconstructed through the historic accumulation of flows of knowledge. Thus, the aggregate level of knowledge can always be updated after every learning loop, or at every moment of discrete time, whose unit of measurement we might assume at the outset of our analysis. Secondly, every firm within a region or industry is treated symmetrically regarding spillover effects and magnitudes. Such statement meaning that the amount of aggregate knowledge borrowed from any available source, either the region or industry under analysis or some other distant region or industry, is regarded as the same by every firm. And finally, we model both the loss of appropriation of benefits from innovation and the distance between different technological bases or regional sources in terms of single parameters, or instantaneous rates of growth, weighting respectively the leakage and the absorption intensities of flows and stocks of knowledge. Several theoretical predictions about the direction and magnitude of the knowledge spillovers can therefore be deducted from parametric changes in the leakage and absorption functions of our model arising from, among other things: - Improvements in information technology and falling communication costs observed in the economic system at general. - Improvements in technological communication systems within specific technological districts. - The establishment of explicit cooperative relations and effective access to the pool of collective knowledge, or instead any improvements of the mutuality and trust conditions, within the group of firms located and operating within a specific region. - The increasing of competitive pressures, or the working of any other mechanism for lowering the appropriation of a firm’s gains from innovation, in an array of industrial sectors. One interesting theoretical result is then derived from our full model. With such purpose in mind, we consider first the existence of a relevant competitive situation where appropriation and communication are both dependent upon the number of receiving and sending firms within the region. Whereas the amount of technological leakage per firm increases with the number of firms effectively operating within the region, ceteris paribus; the extent of absorption per firm also increases with the number of firms effectively communicating within the region, ceteris paribus. Apparently, there is a trade-off between such appropriation conditions and communication conditions. In the long-run, the addition of firms eventually exhausts the net positive effects of taking part in an effective network, and so we can establish an equilibrium number of firms operating in the region.

Integrated graphical framework accounting for the nature and the speed of the learning process: an application to MNEs strategies of internationalisation of production and R&D investment

Existing illustrations of the learning phenomenon either stress the relationship between flows and stocks, neglecting the chronological time variable, or the speed of knowledge accumulation along time, neglecting the nature of the underlying learning process. In this paper we present a graphical depiction stressing, in an explicit way, both the nature of interplay between flows and stocks and the intensity of the learning process. The four-quadrant graphs that we develop overcome considerable simplification in literature by deriving, by construction, a measure of dynamic gains of knowledge following the interplay of stock of scientific and technological knowledge and the flow of effort in R&D. This scheme is then applied to study the internationalisation of production and R&D, which are strategies followed by multinational firms. Two types of innovation – process innovation and product innovation – are therefore studied constructing, in each case, an industry performance measure adequately indexed to the cumulated knowledge stock at a given moment in time. In any case, the dynamic efficiency measure adopted naturally takes into account both the absolute changes in the technology indexes and the time delays to reach them, which are properly discounted. Regarding multinationals strategies - internationalisation of production and R&D investment -, we begin with the question of finding a new location for using a now well developed production technology, and then deal with the problem of selecting a region of excellence in research to take gains of concentration advantages and local externalities.Learning; knowledge; technology; R&D; MNEs

A Model of the Learning Process with Local Knowledge Externalities Illustrated with an Integrated Graphical Framework

We present a unified graphical framework accounting for the nature and impact of spillover effects. The dynamics of the learning process with a specific spillover transfer mechanism can be illustrated by recurring to this four-quadrant picture. In particular, a whole cycle of technological learning is explained with help of such a graphical representation of the basic learning process in the presence of knowledge spillovers. We hypothesize two different functional specifications of spillover exchanges among firms within a local innovation system. Each conceivable shape for the knowledge transfer relationship among firms expresses a possible mode and intensity of information processing arising from technology spillovers. A general proposition regarding the relative efficiency of the two alternative formal models with spillovers effects is derived. The basic models with spillover effects are then extended in several relevant directions.Learning; knowledge; technology spillovers; knowledge externalities; local innovation systems

Does structure influence growth? A panel data econometric assessment of ‘relatively less developed’ countries, 1979-2003

Neo-Schumpeterian streams of research emphasize the close relationship between changes in economic structure in favour of high-skill and high-tech branches and rapid economic growth. They identify the emergence of a new technological paradigm, strongly based on the application of information and communication technologies (ICTs), in the 1970s, arguing that in such periods of transition and emergence of new techno-economic paradigms the relatively less developed countries have higher opportunities to catch-up. Although this debate is theoretically well documented, the empirics seem to lag behind the theory. In this paper, we contribute to this literature by adding illuminating evidence on the issue. More precisely, we relate the growth experiences of countries which had relatively similar economic structures in the late 1970s, with changes occurring in these countries’ structures between 1979 and 2003. The results reveal a robust relationship between structure and (labour) productivity growth, and lend support to the view that producing (though not user) ICT-related industries are strategic branches of economic activity.Structural change, Economic growth, Technical change

Empreendedorismo político local em Portugal. Uma análise exploratória

O artigo identifica as actividades empreendedoras e os municípios empreendedores em Portugal. Cerca de metade dos municípios portugueses respondentes possuem e/ou têm em curso actividades e iniciativas empreendedoras. A vasta maioria afirma ter obtido e/ou se candidatado a fundos de financiamento. Mais de um terço possui ou tem em curso infraestruturas de apoio às actividades de carácter empresarial e social e cerca de 40% possui e/ou tem em curso actividades e serviços de apoio às actividades de carácter empresarial e social. Os municípios mais empreendedores são Mirandela (Alto Trás-os-Montes), Vila Real de Santo António (Algarve), Cascais (Grande Lisboa), Vila da Praia da Vitória (Região Autónoma dos Açores) e Batalha (Pinhal Litoral), enquanto que os menos empreendedores são Meda (Beira Interior Norte), Porto Santo (Região Autónoma da Madeira), Vila do Porto (Região Autónoma dos Açores), Amarante (Tâmega) e Barrancos (Baixo Alentejo). Os diferentes tipos de empreendedorismo estão associados não só a distintas características individuais dos presidentes de câmara mas também, e sobretudo, a características contextuais das regiões onde se localizam os municípios.Empreendedorismo político; municípios; Portugal.

On the divergence of research paths in evolutionary economics: a comprehensive bibliometric account

In the last two decades there has been a noticeable increase in published research in evolutionary economics. The idea that formal modelling is a sine qua non condition for establishing a rigours and coherence scientific frame, has led to an over concern with formalization issues among evolutionary researchers. The general perception is that formalization lags behind the appreciative work. Notwithstanding, this general reading has not yet been supported by real data analysis. This work presents a comprehensive survey on evolutionary economics, intending at exploring the main research paths and contributions of this theorizing framework using bibliometric methods. This documentation effort is based on an extensive review of the abstracts from articles published in all economic journals gathered from the Econlit database over the past fifty years. Evolutionary contributions apparently have not converged to an integrated approach. In the present paper, we document the more important paths emergent in this field. Before 1990, the importance of published evolutionary related research is almost negligible - more than 90% of total papers were published after that date. Our results further show two rather extreme main research strands: 'History of Economic Thought and Methodology' and 'Games'. Moreover, formal approaches have a reasonable and increasing share of published papers between 1969 and 2005. In contrast, purely empirical-related works are relatively scarce, involving a meagre and stagnant percentage of published works. This recalls for a need to redirect the evolutionary research agenda

Identificar características empreendedoras em crianças? O potencial da história dramatizada

Em cada pessoa existe um potencial empreendedor sendo a educação para o empreendedorismo o meio mais eficaz para o dinamizar e promover (Dolabela, 2008). Contudo, como abordar um tema tão complexo com crianças? Objetivo: Identificar a existência ou não de características empreendedoras em contexto de narração de história em crianças. Participantes: Uma turma do 1º ano com 18 alunos e uma de 3º ano com 19 alunos entre os 6 e os 9 anos (7,2±1,1) de uma escola de Braga. Instrumentos/Procedimentos: Construíram-se categorias e subcategorias suportadas pela revisão da literatura que determinaram as características empreendedoras a avaliar. Elaborou-se uma história construída de raiz, tendo por base o tema piratas e a procura de tesouros. Trata-se de uma história dinâmica, em que, cada uma das suas etapas termina com um desafio ou questão para os alunos. Assim, estes podem assumir-se como personagens, dar sugestões argumentadas sobre o caminho a seguir na história e ainda fazer opções entre várias possíveis. A história foi aplicada, em cada um dos anos de escolaridade, em grupos focais, de seis crianças. Discussão dos resultados: A observação das diferentes subcategorias permitiram-nos verificar comportamentos positivos (CP), inversos (CI) e não observados (CNO). Constatamos que em cinco das oito categorias a maioria dos alunos as revelou de forma positiva com destaque para a “Autoconfiança” e “Relações interpessoais” e ainda que aquelas em que se verificou maior percentagem de alunos que manifestaram CI foram a “Autoconfiança”, “Relações interpessoais” destacando-se a “Persistência/Resistência ao Fracasso. As categorias em que mais se verificaram CNO foram a “Liderança / Tomada de decisão” e “Organização e Planeamento”. São necessárias mais investigações de forma a reunir um número considerável de contribuições para a validação de um instrumento que se adapte à linguagem da criança e que, de uma forma lúdica e motivadora, permita identificar características empreendedoras.CIEC (Centro de Investigação em Estudos da Criança), pelo Projeto Estratégico UID/CED/00317/2013, através dos Fundos Nacionais da FCT (Fundação para a Ciência e a Tecnologia), cofinanciado pelo Fundo Europeu de Desenvolvimento Regional (FEDER) através do COMPETE 2020 – Programa Operacional Competitividade e Internacionalização (POCI) com a referência POCI-01-0145-FEDER-007562info:eu-repo/semantics/publishedVersio