QUESTION 2 2.a) Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them (5 points). Why can we say that innovation has a ‘systemic’ nature? (3 points). 2.b) Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development (3 points). Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy (5 points). 2 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries (9 points). FIGURE 1:United States35000Education systemIrelandeNorwayLiteracyPrimary leacher/pupilSecondary enrolmentTertiary cnrolment0.78R2 = 0,69(0,750.88Switzerland30000Austria. NetherlandsxCanadaDenmarkBelgiumAustraliaFinlandSweden0.88United Kingdom."Japan FranceGermany Italy% of lotal variance67,725000Singapore SpainIsraelNew Zealand20000Taiwan Grecce* Portugal.CzechiRep. Korea•Slovenia15000•HungarySlovakja.Saudi Arabia-South AfricaA Malaysia xhileMexicoxIran Turkey BraArgepiha Estonia• Poland• Lithuania•LatviaRussiaCroatia10000Uruguay•BulgariaBelarusUkraineAlgeria a5000PakistanTanzaniaChinaMorocco A IndiazimbabeJordanArnenia„GeorgiaKyrgyzstanNigoriaAKenyaIndonesiaVietnamMoldova-3.0-2.5-2.0-1.5-1.0-0.50.00.51.01.52.0Education systemEurope × North & South America I Asia & Oceania A AfricaFigure 4.2GDP per capita and education system over 2000 2004GDP per capita

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ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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QUESTION 2 2.a) Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them (5 points). Why can we say that innovation has a ‘systemic’ nature? (3 points). 2.b) Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development (3 points). Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy (5 points). 2 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries (9 points).

FIGURE 1:
United States
35000
Education system
Irelande
Norway
Literacy
Primary leacher/pupil
Secondary enrolment
Tertiary cnrolment
0.78
R2 = 0,69
(0,75
0.88
Switzerland
30000
Austria. Netherlands
xCanada
Denmark
Belgium
Australia
FinlandSweden
0.88
United Kingdom."
Japan France
Germany Italy
% of lotal variance
67,7
25000
Singapore Spain
Israel
New Zealand
20000
Taiwan Grecce
* Portugal.
CzechiRep. Korea
•Slovenia
15000
•Hungary
Slovakja.
Saudi Arabia-
South AfricaA Malaysia xhile
Mexicox
Iran Turkey Bra
Argepiha Estonia
• Poland
• Lithuania
•Latvia
Russia
Croatia
10000
Uruguay
•Bulgaria
Belarus
Ukraine
Algeria a
5000
Pakistan
Tanzania
China
Morocco A Indiazimbabe
Jordan
Arnenia
„Georgia
Kyrgyzstan
Nigoria
AKenya
Indonesia
Vietnam
Moldova
-3.0
-2.5
-2.0
-1.5
-1.0
-0.5
0.0
0.5
1.0
1.5
2.0
Education system
Europe × North & South America I Asia & Oceania A Africa
Figure 4.2
GDP per capita and education system over 2000 2004
GDP per capita

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