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- Author or Editor: Cristiano Antonelli x
Edited by Cristiano Antonelli
The Evolutionary Complexity of Endogenous Innovation
The Engines of the Creative Response
Cristiano Antonelli
Cristiano Antonelli
The notion of endogenous innovation as the outcome of the creative response of firms to out-of-equilibrium conditions is the cornerstone of the new evolutionary complexity. This chapter explores the role of the reactivity of firms to out-of-equilibrium conditions and of knowledge governance in assessing the chances that creative responses actually take place as an alternative to adaptive responses. It implements a systemic frame able to show that: i) the quality of knowledge governance is a determinant in making the response of firms creative rather than adaptive; and ii) the levels of firms’ reactivity enhance the rates of introduction of innovations and increase total factor productivity.
Cristiano Antonelli
The advances of the economics of knowledge provide the tools to study the changing organization of economic systems. Schumpeterian growth regimes identify the governance mechanisms of the generation and exploitation of knowledge as the engine of economic growth. The limited exhaustibility and appropriability of knowledge require specific coordination procedures at the system and the firm level to take advantage of the potential for increasing returns. The changing mix of such governance mechanisms enables us to identify the emergence and decline of different growth regimes: the entrepreneurial growth regime, the corporate growth regime and the knowledge growth regime.