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A new typology for economic sectors with a view to policy implications

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Pol, E and Carroll, PGH and Robertson, PL (2002) A new typology for economic sectors with a view to policy implications. Economics of Innovation and New Technology, 11 (1). pp. 61-76. ISSN 1043-8599

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Abstract

This paper is an attempt to tease out a typology of economic sectors based on a systems approach to innovation and economic growth that may be useful for policy analysis. The typology explored here revolves around novel products rather than ethereal knowledge-producing entities. This insight goes back to Allyn Young (1928) and Joseph Schumpeter (1934) who argued that the introduction of new goods was the engine of economic growth. More precisely, our typology of sectors focuses on novel products which are efficiency-enhancing within and between sectors through the market mechanism. The scheme revolves around the relationship between 'Enabling' and 'Recipient' sectors (which gives the typology its name: ER), and offers a lens for viewing and interpreting a substantive part of the mechanics of modern economic growth. The last part of the paper briefly discusses a few immediate policy implications, although it has the potential for greater use and value in this regard.

Item Type: Article
Keywords: Innovation; Economic Growth; Enabling Linkages Approach; Knowledge-based Economies; Novel Products; Efficiency-enhancing Innovations
Journal or Publication Title: Economics of Innovation and New Technology
Page Range: pp. 61-76
ISSN: 1043-8599
Identification Number - DOI: 10.1080/10438590210892
Additional Information: The definitive version is available online at http://www.informaworld.com/smpp/title~content=t713641545
Date Deposited: 26 Jul 2007
Last Modified: 18 Nov 2014 03:19
URI: http://eprints.utas.edu.au/id/eprint/1446
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