Innovation and the Growth of Cities
An extremely valuable tool for the student of innovation and regional development. The structure of the book a collection of previously published articles and book chapters offers a final result that, although organized around a common theme, comprises chapters that are independent from another. This allows the reader to concentrate on specific subtopics of interest. The book also has the advantage of offering a very good description of the methodology used to arrive at the results. Pierre-Marcel Desjardins, Journal of Regional Science This book is both topical and of real-world interest. It brings some careful empirical analysis to the question of how localized knowledge is generated and diffuses within metropolitan areas. Daniel Felsenstein, Journal of Economic Literature . . . this is an impressive collection of work. The author s eclectic style is well managed and his evidence is persuasive. The book will improve the debate on regional growth issues including public policy. I would recommend this book to anyone studying regional economic or growth issues. William H. Rogers, Journal of Economic Issues Zoltan Acs has produced one of the major works of the past decade or two that helps to explain why cities grow. A central premise and one supported by empirical analysis throughout the book is that entrepreneurship is an important local activity that translates raw knowledge (that by the way is shown to be highly local) into ideas and start-ups that grow and underpin and sustain metropolitan growth. This is a must read for all students and scholars of urban and national economic growth and related policies. Roger R. Stough, George Mason University, US Innovation is the driving force of the dynamics of regions and cities. Innovation however, is not an autonomous miracle, but is emerging out of knowledge creation and adoption. Thus, knowledge production is at the heart of economic progress. Zoltan Acs offers in this book a brilliant overview and convincing empirical evidence on the fascinating relationship between successful entrepreneurship and knowledge-intensive areas. His ideas form a unique blend of elements from the new economic geography, the new growth theory and the new innovation economics theory, and provide a thorough analysis of the changing economic landscape in the US. Peter Nijkamp, VU University Amsterdam, The Netherlands Acs s book demonstrates the link between entrepreneurship, geographic proximity and economic growth. It identifies the missing links from a wide range of viewpoints and with a modern empirical flavor. It shows that a proper environment is needed for the idea to start a firm and to contribute to the economic development of this environment. Acs provides vital reading for academics and policymakers aiming to understand the role of spillovers and clusters when explaining the growth of cities. He captures the essence of the economic dynamics of cities in the modern economy. Roy Thurik, Erasmus University Rotterdam, The Netherlands This new and original book by Zoltan Acs explores the relationship between industrial innovation and economic growth at the regional level, and reaches conclusions as to why some regions grow but others decline. While the analysis draws on industrial organization, labor economics, regional science, geography and entrepreneurship, the book focuses on innovation and the growth of cities by the use of endogenous growth theory. The author argues that industrial innovation is the driving force behind long-run regional growth, and explores the issues of how technology and entrepreneurship can foster and promote growth at the regional level. With its multidisciplinary approach, Innovation and the Growth of Cities will be warmly welcomed by academics and researchers alike in the areas of innovation and science, regional science and geography, entrepreneurship and evolutionary economics.
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Technology and entrepreneurship
List of tables
Knowledge innovation and firm size
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Acs and Audretsch analysis Anselin asset specificity capital structure ceteris paribus chapter cities clusters coefficient column corporate cost counties current projects degree of obsolescence econometric economic growth effect empirical endogenous endogenous growth theory entrepreneurial equation estimated externalities finance geographic spillovers global Griliches heteroskedasticity high-tech high-technology employment important increase industrial R&D inno innovative activity innovative output inputs interaction investment Jaffe Jaffe's knowledge production function knowledge spillovers labor force large firms literature measure of innovative metropolitan areas metropolitan statistical areas monopoly profits MSA level networks number of innovations opportunity cost patent percent private R&D probit process innovation product improvement product innovation proxy R&D expenditures R&D spillovers regional regression role sector selection bias shift-share analysis Silicon Valley Small Business Administration small firms SMSA spatial lag suggests systems of innovation Table technological opportunity theory tion university R&D university research expenditures wages WMIT