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ResearchPaper
2013

Innovation, economic diversification and human development

Abstract (German)

In this paper we bridge a gap between innovation economics and the human development approach by analyzing positive and negative effects of different types of economic diversification on social welfare. Economic variety is a driver and outcome of economic development. However, diversification leads to ambiguous effects on the well-being of human agents: on the one hand, increasing variety augments the freedom of human agents to choose. On the other hand, it can overburden their capabilities to make economic decisions and can deteriorate their well-being. It becomes clear that human development policy has to go hand in hand with an industrial policy that promotes qualitative economic diversification. Depending on its dynamics, this diversification can be achieved via related and unrelated variety. We can expect a better design of development policies from a better understanding of the co-evolutionary development of variety, freedom of choice and well-being.

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Notes

Publication license

Publication series

FZID discussion papers; 65

Published in

Faculty
Faculty of Business, Economics and Social Sciences
State Institutes
Institute
Institute of Economics
Forschungszentrum Innovation und Dienstleistung

Examination date

Supervisor

Edition / version

Citation

DOI

ISSN

ISBN

Language
English

Publisher

Publisher place

Classification (DDC)
330 Economics

Original object

Standardized keywords (GND)

Sustainable Development Goals

BibTeX

@techreport{Pyka2013, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5677}, author = {Pyka, Andreas and Hartmann, Dominik}, title = {Innovation, economic diversification and human development}, year = {2013}, school = {Universität Hohenheim}, series = {FZID discussion papers}, }
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