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Innovation, Entrepreneurship, and the Economy in the US, China, and India

Book Description

What drives innovation and entrepreneurship in India, China, and the United States? Our data-rich and evidence-based exploration of relationships among innovation, entrepreneurship, and economic growth yields theoretical models of economic growth in the context of macroeconomic factors. Because we know far too little about the key characteristics of Chinese and Indian entrepreneurs and the ways they innovate, our balanced, systematic comparison of entrepreneurship and innovation results in a new approach to looking at economic growth that can be used to model empirical data from other countries. The importance of innovation and entrepreneurship to any economy has been recognized since the pioneering work of Joseph Schumpeter. Our analysis of the major factors that affect innovation and entrepreneurship in these three parts of the world – US, China and India –provides a comprehensive view of their effects and their likely futures.

  • Looks at elements important for innovation and entrepreneurship and compares them against each other within the three countries
  • Places theoretical modeling of economic growth in the context of the overall macroeconomic factors
  • Explores questions about the relationships among innovation, entrepreneurship and economic growth in China, India and the US

Table of Contents

  1. Cover image
  2. Title page
  3. Table of Contents
  4. Dedication
  5. Copyright
  6. Preface
  7. Introduction
  8. About the Authors
  9. Acknowledgment
  10. Part I: Innovation
    1. Chapter 1: Innovation
      1. Abstract
      2. What is Innovation?
      3. Why is Innovation Important?
      4. Factors Contributing to Innovation
    2. Chapter 2: History
      1. Abstract
      2. The United States
      3. China
      4. India
    3. Chapter 3: Economy
      1. Abstract
      2. Economic Growth
      3. R&D Expenditures
      4. FDI Inflows
      5. FDI Outflows
      6. Patents
    4. Chapter 4: Culture
      1. Abstract
      2. Power Distance and Bureaucracy
      3. Collectivism or Individualism
      4. Uncertainty Avoidance
      5. Cultural Openness
      6. Acceptance of Change
      7. Opinion About Achievement
      8. Masculinity or Femininity
      9. Challenges for the United States: Recent Cultural Evolution of the United States
    5. Chapter 5: Laws, Rules, and Role of Government Institutions
      1. Abstract
      2. Intellectual Property Rights
      3. Tax Policies for Promotion of Innovation and Entrepreneurship
      4. Government Procurement to Promote Innovation and Entrepreneurship
      5. Scientific and Technological Plan
      6. International Innovation System
      7. The Influence of Rent-Seeking and Corruption
    6. Chapter 6: Demographics
      1. Abstract
    7. Chapter 7: Education and Universities
      1. Abstract
      2. Education Expenditures
      3. Institutions and Universities
      4. Content of Education
      5. Different College Entrance Exams
      6. Differences in Relationship Between Teachers and Students
      7. Different Relationships Between Administrative Staff and Teachers
      8. Challenges for the United States
    8. Chapter 8: Industry and Market Structures, Industry and Regional Clusters
      1. Abstract
      2. Industry and Market Structures: The United States
      3. Industry and Market Structures: China and India
      4. Industry Clusters
    9. Chapter 9: Opportunity Areas for Innovation
      1. Abstract
      2. China
      3. India
      4. The United States
  11. Part II: Entrepreneurship
    1. Chapter 10: Entrepreneurship
      1. Abstract
      2. What is Entrepreneurship?
      3. The Entrepreneurial Process
      4. Entrepreneurship: New Ventures
      5. Factors Contributing to Entrepreneurship
    2. Chapter 11: Personal Characteristics
      1. Abstract
      2. Innovation Ability
      3. Propensity for Risk-Taking
      4. Internal Locus of Control
      5. Value of Achievement
    3. Chapter 12: Social and Cultural Factors
      1. Abstract
      2. Power Distance
      3. Social Relations
      4. Family Culture and Level of Trust
      5. Acceptance of Failure
    4. Chapter 13: Entrepreneurial Training
      1. Abstract
      2. Relevant Education
      3. Relevant Training and Consultation Services
    5. Chapter 14: External Environment
      1. Abstract
      2. The Free Market Economy and Competitive Environment
      3. Supportive Laws
    6. Chapter 15: Infrastructure
      1. Abstract
      2. The United States
      3. China and a Comparison with the United States
      4. India
    7. Chapter 16: Capital Availability
      1. Abstract
      2. Sources of Business Financing
      3. The United States
      4. China
      5. India
    8. Chapter 17: Intrapreneurship
      1. Abstract
      2. The United States
      3. China
      4. India
  12. Part III: Impact on the Economy
    1. Chapter 18: Impact on the Economy
      1. Abstract
      2. Role of Innovation and Entrepreneurship in the Economy
      3. Economic Growth
    2. Chapter 19: General Macroeconomic Framework
      1. Abstract
    3. Chapter 20: An Economic Model
      1. Abstract
      2. A Model for Economic Growth with Innovation and Entrepreneurship
    4. Chapter 21: Entrepreneurship Indices Relevant Macroeconomic Data
      1. Abstract
      2. GEDI Data
      3. Data from the Heritage Foundation
  13. Part IV: Conclusions
    1. Chapter 22: Conclusions and Thoughts about the Future: The United States, China, and India
      1. Abstract
      2. Innovation Defined, Importance of Innovation, Factors Contributing to Innovation
      3. History
      4. Economy
      5. Culture
      6. Laws and Rules and Role of Government and Institutions
      7. Demographics
      8. Education and Universities
      9. Industry and Market Structures, Industry and Regional Clusters
      10. Opportunity Areas for Innovation
      11. Entrepreneurship
      12. Personal Characteristics
      13. Social and Cultural Factors
      14. Entrepreneurial Training
      15. External Environment
      16. Infrastructure
      17. Capital Availability
      18. Intrapreneurship
      19. Impact on the Economy
  14. Appendix 1
  15. Appendix 2: Innovation Data
    1. Data from Global Innovation Indices for Various Subindices
  16. Index