Innovation Concepts and Typology – An Evolutionary Discussion

Kotsemir, Maxim; Meissner, Dirk; Abroskin, Alexander

doi:10.2139/ssrn.2221299

Cited by 65 publications

(46 citation statements)

References 153 publications

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“…It can be categorized as all of the scientific, technological, financial, and commercial activity necessary to create, implement and develop new financial markets with improved financial assets (OECD 2004). Innovation not only considers the creation of a new thing but also acts as the panacea for prolonged economic problems (Kotsemir and Abroskin 2013). Schumpeter (1912) indicated that innovation can take place in the form of a new product, process, market, raw material, a method of distribution, or organizational structure.…”

Section: Theoretical Literaturementioning

confidence: 99%

Financial innovation and economic growth in Bangladesh

Qamruzzaman

Jiang

2017

Financ Innov

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Section: Theoretical Literaturementioning

confidence: 99%

Financial innovation and economic growth in Bangladesh

Qamruzzaman

Jiang

2017

Financ Innov

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“…Schumpeter defined innovation [1] as the setting up of a new production function, to denote the application of new ideas to the production process. Several authors [2][3][4] state that innovation is in the center of economic change. While radical innovations shape big changes in the world, incremental innovations fill in the process of change continuously.…”

Section: Introductionmentioning

confidence: 99%

A Course of Innovations in Wood Processing Industry within the Forestry-Wood Chain in Slovakia: A Q Methodology Study to Identify Future Orientation in the Sector

Loučanová

Paluš

Dzian

2017

Forests

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Abstract:As innovations are the basic premise of commercial success in the market the main objective of this paper is to determine the main course of innovations in wood-processing industry within the forestry-wood chain in Slovakia from the viewpoint of representatives of wood processing companies. Using a Q-methodology approach the emphasis is also put on identification of differences between the opinions of small individual entrepreneurs and representatives of capital companies. Based on the results of structured interview with representatives of 33 wood processing companies the main findings suggest that future innovation activities in the sector will be related to the technology innovations mainly in processing of coniferous timber. However, the extent of such innovations is perceived differently depending on the company size and ownership category. While small individual entrepreneurs expect only slight innovation changes in the industry aimed at the meeting of required standards, managers of capital companies tend to foresee the future vision in restructuralisation of wood-processing industry.

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“…Innovation nowadays is not simply the "creation of something new" but also a panacea for the solution of a board range of problems. The term "innovation" is more and more often used -very frequently by policymakers, marketing specialists, advertising specialist and management consultants -not as a strictly scientific concept but as a metaphor, political promise, slogan or a buzzword (Kotsemir & Abroskin, 2013).…”

Section: Introductionmentioning

confidence: 99%

Innovation and economic growth: evidence from financial institutional innovation

Qamruzzaman

2017

RISUS

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Abstract:Innovation is the key to bringing changes in the traditional financial system. Innovation in the financial system being new financial products, hybrid financial institutions and new rules and regulations to reform existing financial system. Evolvement of financial institutions in the economy help economy in performing a financial function more effective and efficiently and such performance of financial institution promotes economic growth. The aim of the study to assess the relationship between institutional innovation and economic growth of Bangladesh over the period from 1991 to 2015. During this study, we employ the various econometric model to established association ship between institutional innovation and economic growth. Study results revealed that all the variables are stationary at level and after first difference all the variables become non-stationary. Test of Cointegration results revealed that innovation in the financial system through non-bank financial institutions and the financial market can contribute long run and CPI and spread rate can contribute in short run in the economic growth of Bangladesh. While Granger Causality Test revealed that Capital flow and GDP shows unidirectional causality but financial market development and GDP shows the Bidirectional causal relationship in the economy. It is also observed from causality analysis that capital flow and financial market development shows bidirectional causality, which indicated that innovation either in a financial institution or financial market can cause both variables and eventually influence on economic growth. So policymaker should consider the interrelationship between institutional innovation and economic growth while the formulation of economic policy because policy should expedite the development process in the financial system by making robust financial sector through encouraging financial innovation with banks, non-banks financial institution and capital market as well. Robust financial development can cause positively in overall economic growth in Bangladesh.

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Innovation Concepts and Typology – An Evolutionary Discussion

Cited by 65 publications

References 153 publications

Financial innovation and economic growth in Bangladesh

Financial innovation and economic growth in Bangladesh

A Course of Innovations in Wood Processing Industry within the Forestry-Wood Chain in Slovakia: A Q Methodology Study to Identify Future Orientation in the Sector

Innovation and economic growth: evidence from financial institutional innovation

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