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Modelling the Impact of Network Social Capital on Business and Technological Innovations

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  • Yuan K. Chou

Abstract

In this paper, we construct a macroeconomic growth model where social capital embedded in collaborative networks of firms (such as corporate partnerships and research consortia) increase the rate of technological and business innovations in high-tech industries. Social capital is created via network-building activities and through “learning-by-doing”. We derive the optimal quantity of resources that should be channelled away from pure production into activities that build network social capital, and study both the comparative statics and transitional dynamics of the model. We also examine the implications of the model for policymakers interested in formulating innovation policies.

Suggested Citation

  • Yuan K. Chou, 2003. "Modelling the Impact of Network Social Capital on Business and Technological Innovations," Department of Economics - Working Papers Series 890, The University of Melbourne.
    • Handle: RePEc:mlb:wpaper:890
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    File URL: http://www.economics.unimelb.edu.au/downloads/wpapers-03/890.pdf
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    References listed on IDEAS

    as
    1. Routledge, Bryan R. & von Amsberg, Joachim, 2003. "Social capital and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 167-193, January.
    2. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
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    More about this item

    Keywords

    Technological progress; business innovations; social capital; economic growth;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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