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

Edition 1 Historical Perspectives and Future Trends

Editors: By Rajiv Shah, Zhijie Gao and Harini Mittal

Publication Date: 10 Oct 2014

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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.

Key Features

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

About the author

By Rajiv Shah, Jindal School of Management, University of Texas, Dallas, TX, USA; Zhijie Gao, Northeast Agricultural University, Harbin, PR China and Harini Mittal, Bronx Community College, City University of New York, NY, USA

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

Title Reviews

"How will emerging economies shape our coming life? Will the emerging economies of China and India converge towards a single model of innovative economy or will they preserve their own national characteristics? These issues are addressed in these essays which remind us that the future has already started."—Daniele Archibugi, Italian National Research Council

"This book addresses two questions that are crucial to understand the economic growth miracle in China and India. How is innovation activity carried out in these countries? What are the drivers of entrepreneurship in China and India, compared to the U.S.? For those who are interested in understanding economic growth in emerging countries, this book is an essential reading."—Andrea Filippetti, London School of Economics and Political Science

"This important new book provides a compelling analysis highlighting the underlying forces driving the United States, China and India — innovation and entrepreneurship. The book shows how and why entrepreneurship and innovation matter so much even across such disparate economic contexts."—David Audretsch, University of Indiana

ISBN: 9780128018903

Page Count: 416

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Upper-division undergraduates, graduate students, and professionals working in international finance, business, and economic development

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

Editors: By Rajiv Shah, Zhijie Gao and Harini Mittal

Key Features

About the author

Title Reviews

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