Innovation Entrepreneurship And The Economy In The Us China And India

What drives innovation and entrepreneurship in India, China, and the United States? Our data-rich and evidence-based exploration of relationships among innovation, entrepreneurship, and economic growth yields theoretical models of economic growth in the context of macroeconomic factors. Because we know far too little about the key characteristics of Chinese and Indian entrepreneurs and the ways they innovate, our balanced, systematic comparison of entrepreneurship and innovation results in a new approach to looking at economic growth that can be used to model empirical data from other countries. The importance of innovation and entrepreneurship to any economy has been recognized since the pioneering work of Joseph Schumpeter. Our analysis of the major factors that affect innovation and entrepreneurship in these three parts of the world – US, China and India –provides a comprehensive view of their effects and their likely futures. Looks at elements important for innovation and entrepreneurship and compares them against each other within the three countries Places theoretical modeling of economic growth in the context of the overall macroeconomic factors Explores questions about the relationships among innovation, entrepreneurship and economic growth in China, India and the US

Three sets of questions are addressed.

This open access book analyses intellectual property codification and innovation governance in the development of six key industries in India and China. These industries are reflective of the innovation and economic development of the two economies, or of vital importance to them: the IT Industry; the film industry; the pharmaceutical industry; plant varieties and food security; the automobile industry; and peer production and the sharing economy. The analysis extends beyond the domain of IP law, and includes economics and policy analysis. The overarching concern that cuts through all chapters is an inquiry into why certain industries have developed in one country and not in the other, including: the role that state innovation policy and/or IP policy played in such development; the nature of the state innovation policy/IP policy; and whether such policy has been causal, facilitating, crippling, co-relational, or simply irrelevant. The book asks what India and China can learn from each other, and whether there is any possibility of synergy. The book provides a real-life understanding of how IP laws interact with innovation and economic development in the six selected economic sectors in China and India. The reader can also draw lessons from the success or failure of these sectors.

Innovation is the driving force behind economic growth. The knowledge that f- ters innovation builds on both systematic research and serendipity. The availability of new knowledge—be it technological or organizational (social)—is, however, - suf?cient. An institutional structure must be in place that enhances mutual learning among the actors involved and that stimulates cooperation, as well as competition. This recognition has inspired this volume, which focuses on national innovation s- tems and sectoral (technology) innovation systems that differ widely between co- tries, due to their diverse historical paths and distinctive cultural and societal f- tures. With regard to theory, most chapters incorporate a mix of endogenous growth theory and evolutionary thinking. Endogenous growth theory places an emphasis on the interplay between technological knowledge and various structural charact- istics of the economy and society, as well as on the results of economic growth. Concepts related to technology development, accumulation of knowledge on te- nology, and technology diffusion feature prominently here. In evolutionary thi- ing, and in particular coevolutionary thinking, the focus is on close links between technology and institutions, whereby the functionality of technology is in?uenced by certain dynamic interactions with institutional systems. Information technology turns out to be a clear example of such a development.

As the population ages, which nation will rise to lead innovation in the future? Demographics of Innovation takes a deep, investigative look at the link between economic growth, innovation, vitality and entrepreneurship in an aging population, and provides smart strategy for the future. Written by a Stanford-trained economist and demographics expert, who is also a prominent internet entrepreneur, this book examines demographic trends across nations and digs into the divergence to find awakening innovation. An aging population hampers growth; while many are focused on the care-related financial burden, few have fully explored the ways in which a seismic demographic shift could transform the face of global business. This book charts the trends, connects the dots and reveals which nations will be best placed to build an innovation economy and grow in the future. Global business is set to undergo a revolution as aging populations mired in old thinking become left behind by younger, brighter, more forward-looking generations. Innovation loss is the first step in stagnation, so the question becomes: who will win and who will lose in this new world order? This book presents clear analysis of the coming demographic bomb, and proposes insightful strategy for the short and long term. Delve into the aging of society and the economic issues it creates Learn how shifting demographics affects innovation and prosperity Examine trends in growth, policy and more alongside the rise in average age Make smarter planning decisions in light of the changing population The problems of overpopulation pale in comparison to the problem of aging on a massive global scale. Demographics dictate growth rates, economic equilibrium, interest rates and so much more. Demographics of Innovation provides thought-provoking analysis and strategy for policy makers, business leaders, investors, entrepreneurs and everyone concerned about planning for an uncertain future.

This book provides an analysis of the existing economic dynamics and factors contributing to entrepreneurship in China. Featuring contributions from prominent authors such as Zoltan Acs and Jian Gao, it first poses a theoretical question of whether entrepreneurship exists in China and, if so, the extent and form it takes. This book also examines whether the nature of entrepreneurship in China differs from that elsewhere. Following this investigation, empirical tests and analyses focus on important issues such as: What is the special value of entrepreneurship in China? Does entrepreneurship in China drive economic growth like it does in other more market-oriented economies? What is entrepreneurship in China like? What is its history, nature, environment, and what are some of the underlying diversities or challenges it is facing? Assuming entrepreneurship in China is important to economic growth, how can public policy help to enhance the entrepreneurship milieu in China? Finally, based on the empirical findings and potential policy implications, future directions of investigation are suggested.

With the rapid development of China and India as new economic powers in global competition, an obvious question is whether these emerging economies are great opportunities or threats. Whilst answers are bound to differ depending on one’s perspective, it is increasingly clear that more local firms, especially local entrepreneurs, from these emerging economies will play a more critical role in global competition by becoming challengers to global incumbents. Indeed, the fact that the majority of their populations are at the bottom of the pyramid, and thus cannot afford products designed for the developed markets, has made these emerging economies fertile ground for developing and applying disruptive innovations. A novel mix of key attributes distinctive from those of established technologies or business models, disruptive innovations are typically inferior, yet affordable and "good-enough" products or services, which originate in lower-end market segments, but later move up to compete with those provided by incumbent firms. This book sheds new light on disruptive innovations both from and for the bottom of the pyramid in China and India, from the point of view of local entrepreneurs and international firms seeking to operate their businesses there. It covers both the theoretical and practical implications of disruptive innovation using conceptual frameworks alongside detailed case studies, whilst also providing a comparison of conditions and strategic options in India and China. Further, unlike existing studies, this book focuses on the neglected perspective of local challengers as the primary players, and in doing so reveals the extent to which the future landscape of global competition may be shaped by disruptive innovation, as well as its capacity to make the world "flatter" and more sustainable. This unique book will be valuable to both scholars and practitioners interested in disruptive innovation and those working in the fields of Asian studies, international business, economics and globalization.

The return of the once-dormant economies of China and India to dynamism and growth is one of the most remarkable stories in recent history. The two countries are home to nearly 40 percent of the world's population, but until recently neither had played an influential role in the contemporary global economy. In the past two decades, China and India have liberalized internal economic policy, treatment of foreign investment, and trade, and have experienced economic growth at sustained high rates. From the point of view of the United States, however, the most important development in the Chinese and Indian economies in the long term may be the strides they are making in developing their own domestic innovation capacities. After a long period of underinvestment, both countries have committed to growing their science and education systems to bolster research and further economic expansion. Some observers of the recent growth have said that both countries are surging in their efforts to spur innovation; others have emphasized the potential of one country over the other; and still others have suggested that both China and India have a long way to go before achieving innovation-driven growth. With such a range of views, The National Academies set out to describe developments in both countries, in relation to each other and the rest of the world, by organizing a conference in Washington, D.C. The conference, summarized in this volume, discussed recent changes at both the macroeconomic level and also in selected industries, and explored the causes and implications of those changes.