A New Taxonomy of Economic sectors With a View to Policy Implications

Eduardo Pol (), Peter Carroll and Paul Robertson ()
Additional contact information
Eduardo Pol: University of Wollongong

No WP01-01, Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: This paper is an attempt to tease out a taxonomy of economic sectors based on a systems approach to innovation and economic growth that may be useful for policy analysis. The taxonomy explored here revolves around novel products rather than ethereal knowledge-producing entities. This insight goes back to Allyn Young (1928) and Joseph Schumpeter (1934) who argued that the introduction of new goods was the engine of economic growth. More precisely, our taxonomy of sectors focuses on novel products which are efficiency-enhancing within and between sectors through the market mechanism. The scheme revolves around the relationship between 'Enabling' and 'Recipient' sectors (which gives the taxonomy its name: ER), and offers a lens for viewing and interpreting a substantive part of the mechanics of modern economic growth. The last part of the paper briefly discusses a few immediate policy implications, although it has the potential for greater use and value in this regard.

Keywords: innovation; economic growth; enabling linkages approach; knowledge-based economies; novel products; efficiency-enhancing innovations (search for similar items in EconPapers)
JEL-codes: L60 O38 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2001-01
New Economics Papers: this item is included in nep-geo and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.uow.edu.au/content/groups/public/@web/@ ... ts/doc/uow012103.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uow:depec1:wp01-01

Access Statistics for this paper

More papers in Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia. Contact information at EDIRC.
Bibliographic data for series maintained by Peter Siminski ().