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


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Pol, E, Carroll, PGH and Robertson, PL 2002 , 'A new typology for economic sectors with a view to policy implications' , Economics of Innovation and New Technology, vol. 11, no. 1 , pp. 61-76 , doi: 10.1080/10438590210892.

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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
Authors/Creators:Pol, E and Carroll, PGH and Robertson, PL
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
ISSN: 1043-8599
DOI / ID Number: 10.1080/10438590210892
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