Innovation & Entrepreneurship in the Global Economy

Abstract

Innovation and entrepreneurship are the prime drivers in the global economy. The expert contributions explore the underlying forces and add substantial theoretical and empirical knowledge to the current state-of-the-art in several research fields including the economics of innovation and entrepreneurship, regional economics, economic geography and international economics. We have, in recent decades, been able to witness a veritable revolution in the world economy, known as ‘globalization’. Generally, the term is connected to the rapid increase of the free movement of goods, capital, people, ideas, information and knowledge around the globe.
Extending our understanding of the many different ways that innovation and entrepreneurship contribute to economic development and growth in a globalized economy, the expert contributors highlight that the current wave of globalization has been a period of exceptional entrepreneurship both among large multinational firms and among independent entrepreneurs. They demonstrate that location matters for creativity, innovation and entrepreneurship, and clarify that public policy in a globalized economy must stress knowledge and ideas as the source of competitiveness and economic growth.