By Timo J. Hamalainen, Risto Heiskala
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Additional info for Social Innovations, Institutional Change and Economic Performance: Making Sense of Structrual Adjustment Processes in Industrial Sectors, Regions and Societies (Sitra's Publication)
The empirical results suggested that a major transformation took place in the world economy between the 1980s and 1990s. Another interesting result was the fact that the role of government in the economy had a strong impact on economic growth both in the 1980s and in the 1990s. Economies grew faster in societies that allocated relatively more public resources to activities that directly supported economic competitiveness and growth than to activities that were motivated by social equity oriented goals.
The overlapping rules, policies and organizations of such communities form a multi-level ‘nested hierarchy’ where human beings perform their daily activities in diﬀerent roles, learn about their results and collectively maintain or change the relevant 34 Perspectives to structural change structures (Scott, 2001; Seo and Creed, 2002; Van de Ven and Hargrave, 2003). In the rest of this chapter, we will develop a theoretical framework that synthesizes the general features of structural change processes in socioeconomic systems.
16. 12. 11. 41 Early 1980s 1. 2. 3. 4. 5. 4 Structural competitiveness of the OECD countries between the early 1980s and the early 2000s 31 17. 18. 19. 20. 21. 22. 10. 56). External business activities and the government role maintain their earlier signiﬁcance. The productive resources, technologies and organizational arrangements are all signiﬁcant, but the latter two with unexpected negative signs. Again, we must refer to the earlier correlation explanation. What is rather surprising is the return of the catching-up variable among the statistically signiﬁcant ones.