(a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature?(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. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy.(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. Please answer all the parts of this question. FIGURE 1:35000Education systemUnited StatesNorwayR -0.69IrelandeLiteracyPrimary leacher/pupil (1.75Secondary enrolmentTertiary enrolment0. 78SwitzerlandAustria . Netherlands Denmark300000.880.88BelgiumAustraliaUnited Kingdom.*CanadaJapan FranceGermany Italy% of lotal varinnee67.725 000FinlandSwedenSingapore SpainIsraelNew ZealandTaiwan GreecePortugal.CzechiRep. Koren20000Slovenia15000•HungarySlovakia.Croatia"XigephastoniaolandSaudi ArabiaLithuaniaSouth Africa, Malaysia xCe Uruguay Latvia10000MexicoIran TurkeyRussiaBulgariaBelarusUkraine5000AlgeriaaJoidanAmeniaChinaPakistun.TanzaniaMorocco a IndiazimbabreNigari*AKenyaIndonesiaVietnamMoldovaKyreyzstanGeorgia2/3-3.0 -2.5 -2.0 -1.5 -1.0 -0.5 0.00.51.01.52.0Education systemEurope x North & South Amnerica Asia & Oceania A AfricaFigure 4.2 GDP per capita and education system over 2000 2004GDP per capita

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Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section: Chapter Questions

Problem 1CQQ

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(a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature?

(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. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy.

(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.

Please answer all the parts of this question.

FIGURE 1:
35000
Education system
United States
Norway
R -0.69
Irelande
Literacy
Primary leacher/pupil (1.75
Secondary enrolment
Tertiary enrolment
0. 78
Switzerland
Austria . Netherlands Denmark
30000
0.88
0.88
Belgium
Australia
United Kingdom.*Canada
Japan France
Germany Italy
% of lotal varinnee
67.7
25 000
FinlandSweden
Singapore Spain
Israel
New Zealand
Taiwan Greece
Portugal.
CzechiRep. Koren
20000
Slovenia
15000
•Hungary
Slovakia.
Croatia
"Xigephastonia
oland
Saudi Arabia
Lithuania
South Africa, Malaysia xCe Uruguay Latvia
10000
Mexico
Iran Turkey
Russia
Bulgaria
Belarus
Ukraine
5000
Algeriaa
Joidan
Amenia
China
Pakistun.
Tanzania
Morocco a Indiazimbabre
Nigari
*AKenya
Indonesia
Vietnam
MoldovaKyreyzstan
Georgia
2/3
-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 x North & South Amnerica Asia & Oceania A Africa
Figure 4.2 GDP per capita and education system over 2000 2004
GDP per capita

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