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Three Horsemen of the Markets: On the Perspective of Schumpeterian Revolution in the Nexus of Finance-Innovation-Competition

Three Horsemen of the Markets: On the Perspective of Schumpeterian Revolution in the Nexus of Finance-Innovation-Competition

Gönül Yüce Akıncı
Copyright: © 2019 |Pages: 14
ISBN13: 9781522571803|ISBN10: 1522571809|EISBN13: 9781522571810
DOI: 10.4018/978-1-5225-7180-3.ch022
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MLA

Akıncı, Gönül Yüce. "Three Horsemen of the Markets: On the Perspective of Schumpeterian Revolution in the Nexus of Finance-Innovation-Competition." Handbook of Research on Managerial Thinking in Global Business Economics, edited by Hasan Dinçer and Serhat Yüksel, IGI Global, 2019, pp. 393-406. https://doi.org/10.4018/978-1-5225-7180-3.ch022

APA

Akıncı, G. Y. (2019). Three Horsemen of the Markets: On the Perspective of Schumpeterian Revolution in the Nexus of Finance-Innovation-Competition. In H. Dinçer & S. Yüksel (Eds.), Handbook of Research on Managerial Thinking in Global Business Economics (pp. 393-406). IGI Global. https://doi.org/10.4018/978-1-5225-7180-3.ch022

Chicago

Akıncı, Gönül Yüce. "Three Horsemen of the Markets: On the Perspective of Schumpeterian Revolution in the Nexus of Finance-Innovation-Competition." In Handbook of Research on Managerial Thinking in Global Business Economics, edited by Hasan Dinçer and Serhat Yüksel, 393-406. Hershey, PA: IGI Global, 2019. https://doi.org/10.4018/978-1-5225-7180-3.ch022

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Abstract

The purpose of this chapter is to examine the impact of technologic improvement and financial development on competitive power in the 28 member countries of the European Union using panel geographically weighted regression analysis for the period of 2004-2016. The findings of the analysis, which show that increasing technological development accelerates the competitive power, support the Schumpeterian hypothesis, revealing that the impact of technology on competitiveness could accelerate with the contribution of the financial sector. In addition, findings reflecting the fact that the foreign trade which has been strengthened via technical development increases the competitive power show that the level of globalization has a contribution to this process, also. It has been observed that securing the property rights and applying the effective patent regimes leads to competitive advantage, and the economic integration process of the European continent has strengthened the competitive force.

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