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Economies
Special Issues
Innovation, Reallocation and Economy Growth
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Innovation, Reallocation and Economy Growth

A special issue of Economies (ISSN 2227-7099). This special issue belongs to the section "Economic Development".

Deadline for manuscript submissions: 31 December 2025 | Viewed by 3897

Special Issue Editor

Prof. Dr. Tsutomu Harada

E-Mail Website
Guest Editor
Graduate School of Business Administration, Kobe University, 1-1, Rokkodaicho, Nada Ward, Kobe, Hyōgo Prefecture 657-0013, Japan
Interests: innovation; technological change; economic growth; inter-sectoral growth

Special Issue Information

Dear Colleagues,

Innovation is the engine of endogenous economic growth. Despite the well-recognized importance of innovation, its causes and consequences are not necessarily well understood. This Special Issue invites papers on theoretical and empirical research on the causes and consequences of innovation. We welcome research that explores practical methods of innovation, rather than merely assuming innovation (R&D) functions, which might include (but is not limited to) the following topics:

  • The mechanism of innovation at the firm, industry, or economic levels;
  • The consequences of innovation for economic growth, structural change, or economic development;
  • Inter-sectoral effects of innovation;
  • Effective policy facilitating innovation;
  • The effects of digital economies on innovation;
  • The effects of monetary and fiscal policies on innovation.

Prof. Dr. Tsutomu Harada
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • innovation
  • reallocation
  • economy growth
  • economic development

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Published Papers (2 papers)

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Research

32 pages, 3170 KiB  
Article
Inequality in the Distribution of Wealth and Income as a Natural Consequence of the Equal Opportunity of All Members in the Economic System Represented by a Scale-Free Network
by John G. Ingersoll
Economies 2024, 12(9), 232; https://doi.org/10.3390/economies12090232 - 29 Aug 2024
Cited by 1 | Viewed by 1561
Abstract
The purpose of this work is to examine the nature of the historically observed and empirically described by the Pareto law inequality in the distribution of wealth and income in an economic system. This inequality is presumed to be the result of unequal [...] Read more.
The purpose of this work is to examine the nature of the historically observed and empirically described by the Pareto law inequality in the distribution of wealth and income in an economic system. This inequality is presumed to be the result of unequal opportunity by its members. An analytical model of the economic system consisting of a large number of actors, all having equal access to its total wealth (or income) has been developed that is formally represented by a scale-free network comprised of nodes (actors) and links (states of wealth or income). The dynamic evolution of the complex network can be mapped in turn, as is known, into a system of quantum particles (links) distributed among various energy levels (nodes) in thermodynamic equilibrium. The distribution of quantum particles (photons) at different energy levels in the physical system is then derived based on statistical thermodynamics with the attainment of maximal entropy for the system to be in a dynamic equilibrium. The resulting Planck-type distribution of the physical system mapped into a scale-free network leads naturally into the Pareto law distribution of the economic system. The conclusions of the scale-free complex network model leading to the analytical derivation of the empirical Pareto law are multifold. First, any complex economic system behaves akin to a scale-free complex network. Second, equal access or opportunity leads to unequal outcomes. Third, the optimal value for the Pareto index is obtained that ensures the optimal, albeit unequal, outcome of wealth and income distribution. Fourth, the optimal value for the Gini coefficient can then be calculated and be compared to the empirical values of that coefficient for wealth and income to ascertain how close an economic system is to its optimal distribution of income and wealth among its members. Fifth, in an economic system with equal opportunity for all its members there should be no difference between the resulting income and wealth distributions. Examination of the wealth and income distributions described by the Gini coefficient of national economies suggests that income and particularly wealth are far off from their optimal value. We conclude that the equality of opportunity should be the fundamental guiding principle of any economic system for the optimal distribution of wealth and income. The practical application of this conclusion is that societies ought to shift focus from policies such as taxation and payment transfers purporting to produce equal outcomes for all, a goal which is unattainable and wasteful, to policies advancing among others education, health care, and affordable housing for all as well as the re-evaluation of rules and institutions such that all members in the economic system have equal opportunity for the optimal utilization of resources and the distribution of wealth and income. Future research efforts should develop the scale-free complex network model of the economy as a complement to the current standard models. Full article
(This article belongs to the Special Issue Innovation, Reallocation and Economy Growth)
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38 pages, 4654 KiB  
Article
Specific Effect of Innovation Factors on Socioeconomic Development of Countries in View of the Global Crisis
by Sergey Mikhailovich Vasin and Daria Mikhailovna Timokhina
Economies 2024, 12(8), 190; https://doi.org/10.3390/economies12080190 - 23 Jul 2024
Cited by 4 | Viewed by 1698
Abstract
Although the coronavirus pandemic has now faded into the background, the global crisis caused by COVID-19 has had the most devastating impacts worldwide. Given the potential relapse of such unexpected and uncertain events, it is vital to specify the patterns thereof and develop [...] Read more.
Although the coronavirus pandemic has now faded into the background, the global crisis caused by COVID-19 has had the most devastating impacts worldwide. Given the potential relapse of such unexpected and uncertain events, it is vital to specify the patterns thereof and develop proactive measures for the countries to acquire an advanced readiness to deal with the related incidents. The most infected countries faced an increase in business bankruptcies, unemployment and inflation rates, low production volumes, and a decline in Gross Domestic Product (GDP). To withstand such socioeconomic consequences, the countries had to employ a number of measures, with innovation development acceleration being one. This paper aims to assess the dependency of an increase in GDP and a decrease in inflation and unemployment rates on the country-level growth of innovation development according to such Global Innovation Index (GII) pillars as institutions, human capital and research, infrastructure, market sophistication, business sophistication, knowledge and technology outputs, and creative outputs. The conducted research analysis covered the period from 2019 to 2022 based on the data for the GII pillar development level and economic performance indicators for 20 countries from five socioeconomic models. Descriptive and comparative statistics as well as correlation and regression analysis were used to prove the innovation development to be a key driver in increasing GDP and reducing inflation. To increase the GDP value, special attention should be paid to such GII pillars as institutions and human capital and research, while infrastructure and human capital and research are the pillars to reduce the inflation rates. Full article
(This article belongs to the Special Issue Innovation, Reallocation and Economy Growth)
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