What is regional economic growth



Summary:
? Innovation logic and regional economic growth? Theory and empirical evidence of autopoietic innovation dynamics? Although more recent growth theoretical approaches consistently emphasize the importance of innovations for economic development and refer to the pioneering work of Joseph A. Schumpeter in a seldom found unity, it can nonetheless be stated that Schumpeter's development paradigm is still a shadowy existence in economic theory and policy lapses. In contrast to the "innovation logic of growth" advocated by Schumpeter, according to which economic growth is caused by innovations and creative entrepreneurs, play within the framework of? More common? Economic and regional theoretical approaches, creative entrepreneurs in the growth process only play a secondary, but by no means causal role. Against the background of the dominance of input-logic growth thinking in economic theory and policy, this thesis is about establishing a? Theoretical counterpoint? to put. The focus is on the theoretical and empirical fusion of Schumpeter's innovation logic with modern systems theory, in particular with the theory of autopoiesis. By showing that regional innovation systems are of an autopoietic character and that creative entrepreneurs act as the driving force in the ongoing reproduction process of innovations through innovations, the regional innovation process becomes a phenomenon exclusively caused by the region and the actors operating there. Based on the consideration that not only must a distinction be made between different types of entrepreneurship (routine, arbitrage, innovation and evolution), but that the creative entrepreneurial function addressed by Schumpeter can also assume different specialization patterns (e.g. real economic, financial, scientific, political and network entrepreneurship) , the second part of the work is devoted to the analysis of the individual institutional subsystems of autopoietic-operating regional innovation systems and the (inter) acting creative entrepreneurs there. The fourth chapter is devoted to the theory of local company networks. In addition to analyzing the innovation-promoting effects of local networking, the aim is to use the figure of the network entrepreneur to highlight the function and mode of operation of trust, the creation of trust and the possibilities of endogenously creating trust as the central mode of operation of networks. In addition, it is shown that the aspect? Local corporate networking? is not only the basis, but also the result of entrepreneurial activity. From the point of view of innovation logic, it is local creative entrepreneurs themselves who decide on the quality of the institutional context for innovative behavior. To argue Schumpeterically means to keep an eye on the financing of innovations. The fifth chapter is devoted to this question. Here the financing problems of innovative start-ups are justified autopoietically. Based on an information and cost theoretical justification of the market failure in the area of ​​early-stage financing of innovative start-ups, the category of financial entrepreneurship is introduced and the key role of competencies in access to financial capital is demonstrated using a comparative analysis of the workings of different financial intermediaries (banks, venture capital, business angels) . The central result is that the establishment of functional, i.e. innovation-promoting regional financing cycles depends on entrepreneurial input from both founders and financiers. The sixth chapter deals with the conditions for the effective integration of science into the regional innovation system. The focus is on the? Entrepreneurial university? as the nucleus of an autopoietically operating regional innovation system. The limits of so-called knowledge transfer approaches are shown and the need to anchor entrepreneurship more firmly in universities if the knowledge created in the science system is to be used more effectively in economic terms is pointed out. Chapter 7 is devoted to the question of how a regional innovation system can be developed and promoted through economic policy measures without falling back into input-logical growth thinking theoretically and thus also economically. The focus here is on the identification and justification of four principles of an autopoietic, i.e. regional economic and innovation policy that is committed to Schumpeter's development paradigm.

Summary:
Although recent theoretical approaches to economic growth pronounce without exception the crucial role of innovation for economic development, employment and prosperity, and refer in this regard in an widespread and rarely seen harmony to the pioneering works of Joseph A. Schumpeter, it must nonetheless be noticed , that the Schumpterian growth paradigm does still play in economic theory and policy at best a shadowy existence. Contrary to the Schumpeterian? Innovation logic of economic growth? common approaches to economic or regional development can be regarded to be concepts in which there is no particular attention given to creative entrepreneurship. Common growth theories do clearly follow an? Input logic of growth ?, by which is meant, that economic growth (in regions) is seen to be the outcome of prior factor accumulation. In the center of attention is the theoretical and empirical fusion of the Schumpeterian innovation and growth logic with modern systems theory, especially with the autopoiesis concept. Showing that regional innovation systems have an autopoietic, i.e. self-producing and -preserving character and that creative entrepreneurs and their competences are the driving forces in the continuing reproduction process of innovations by innovations, regional development appears to be an endogenous phenomenon, ie, growth is caused by local actors only and is not dependent on financial help from outside the region. In order to show that functioning regional innovation systems are subjected to an autopoietic kind of operation, the book tackles among many other the following questions: What is the difference between innovation and input logic of growth? What is meant by entrepreneurial competence and what kind of role does it play in the innovation process? What are the learning processes making up for a? Learning region ?? What are the (typical) institutional ingredients of growth regions? What kind of role does Schumpeterian entrepreneurship play in creating institutions fostering the regional innovation and growth process? How do trust relationships leading to stable inter firm cooperation and regional networks evolve? In how far has network entrepreneurship hereby to play an important role? What is the contribution of financial entrepreneurship to the establishment of autopoietic local finance cycles? · What are the crucial characteristics of an? Entrepreneurial university ?? What are the main principles for economic policy making when following the insights of autopoietic systems theory?