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Neoschumpeterowski model wzrostu z rynkiem kapitałowym

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Burzyński M., Malaga K.

Gospodarka Narodowa. The Polish Journal of Economics

2011

vol. 252

issue 11-12

1-29

An original neo-Schumpeterian endogenous model of economic growth is presented in the article. The model includes the capital market and is an expansion of the Aghion-Howitt model [2009]. In the model, the rate of economic growth is equal to the rate of growth of the average level of technology, which is a direct consequence of innovation, the authors say. The following sets of agents are identified in an economy described with this model: the final production sector, the intermediate production sector, the R&D sector, the government sector, and the capital market. On this basis, the dynamics of the economy was described. The theoretical discussion was expanded to include empirical research, in which the key parameters of the model were calibrated. Additionally, a Monte Carlo simulation of the economy’s dynamics was performed. On the basis of the research, the authors concluded that the main determinant of economic growth is the process of generating innovations by enterprises, which directly influences the level of technology used in production. The capital market has a significant impact on the dynamics of processes occurring in the real economy, the authors note. Technological competition helps achieve the desired state of the economy. The authorities support technological competition because it promotes the growth of the frontier level of technology and spurs economic growth. Enterprises strive to maximize their expected profits from their core business, which encourages them to improve their production technology and outperform the competition. The expectations of companies about future economic trends play an important role in shaping the dynamics of the whole system. The key issue is how risk aversion influences the portfolio investment process, the real economic decisions of enterprises and consequently economic growth, the authors note. According to Burzyński and Malaga, their research conclusions are crucial in terms of determining whether there is a dynamic equilibrium between the financial and real spheres of the economy-in other words, between the capital market, on the one hand, and innovation, technological progress and growth, on the other. Another key question is whether the liquidity and development of the capital market help spur economic growth, and how investors’ risk aversion influences the process of implementing innovations. Finally, the article sheds light on how the volatility of the capital market influences economic growth, the authors say.

THE FORMS OF INTERNATIONAL TECHNOLOGY TRANSFER BY TRANSNATIONAL CORPORATIONS

84%

Byczkowska M., Majzel A., Kuciński A.

International Journal of New Economics and Social Sciences

2018

vol. 8(2)

147-159

The resources and skills of TNC make them play the essential role in carrying out R&D work, whose effect is the production of new, often technologically advanced solutions. Striving for maintaining competitive advantages over others on foreign markets imposes the necessity to transfer the technology worked on in parent companies to TNC foreign branches and local offices. The extensive range of TNC activity through a network of units localised in various regions of the world determines the fact that they are leaders in the process of implementing and distributing innovative solutions in the world. The main aim of the paper was to identify the influence of world-largest transnational corpo-rations on entities with respect to the diffusion of technology.

Posiadane zasoby i umiejętności KTN powodują, że odgrywają one fundamentalną rolę w prowadzeniu prac B+R, których efektem jest powstawanie nowych, często zaawansowanych technologicznie rozwiązań. Dążenie do utrzymania przewag konkurencyjnych na rynkach zagranicznych wymusza z kolei konieczność transferowania technologii wypra-cowanych w przedsiębiorstwach macierzystych do zagranicznych filii i oddziałów KTN. Szeroki zasięg działalności KTN poprzez sieć jednostek zlokalizowanych w różnych regionach świata decyduje o tym, że są one liderami w procesie wdrażania i rozprzestrzeniania rozwiązań innowacyjnych na świecie. Głównym celem artykułu jest określenie wpływu największych światowych korporacji transnarodowych na podmioty w zakresie rozpowszechniania technologii.

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1 Gospodarka Narodowa. The Polish Journal of Economics

1 International Journal of New Economics and Social Sciences

1 Burzyński M.

1 Byczkowska M.

1 Kuciński A.

1 Majzel A.

1 Malaga K.

1 2018

1 2011

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Neoschumpeterowski model wzrostu z rynkiem kapitałowym

THE FORMS OF INTERNATIONAL TECHNOLOGY TRANSFER BY TRANSNATIONAL CORPORATIONS