The International Joseph A. Schumpeter Society (ISS)



8-10 JULY 2021


Local Host Luiss Guido Carli University, Rome, Italy

Luiss – Libera Università Internazionale degli Studi Sociali Guido Carli – is an independent university. It was created out of a pre-existing Roman institution, Pro Deo, between 1974 and 1978. Luiss offers an innovative educational approach at its four Departments: Economics and Finance, Business and Management, Law, and Political Science. Furthermore, Luiss has four Schools for graduate and professional studies: the Luiss Business School, the School of Government, the School of Law, and the School of European Political Economy.


Table of Contents

  1. Local Organizing Committee
  2. ISS (International Schumpeter Society) Executive Committee
  3. Program overview
    1. Thursday 8 July 2021
    2. Friday 9 July 2021
    3. Saturday 10 July 2021
  4. Schumpeter Prize Competition 2021


Local Organizing Committee

Massimo Egidi
Conference Chief Secretary
Lorenzo Valeri
Committee Members
Valentina Meliciani
Luigi Marengo
Daniela Di Cagno
Lorenzo Ferrari


ISS (International Schumpeter Society) Executive Committee

President (2018-2021)
Massimo Egidi (Italy)

Yao Ouyang (CHN)

Mariana Mazzucato (UK)
Jason Potts (Australia)

Board of Management (2018-2020/21):
Stefano Bianchini (Fra)
Guido Bünstorf (Ger)
Andreas Chai (Aus)
Jin Chen (Chn)
Maria Da Graça Derengowski Fonseca (Bra)
Erkan Erdil (Tur)
Alenka Guzmán (Mex)
Erika Kraemer-mbula (Zaf)
Albert N. Link (Usa)
Elicia Maine (Can)
Luigi Marengo (Ita)
Elena Mas Tur (Ndl)
Manfred Prisching (Aut)
Bastian Rake (Irl)
Rögnvaldur Sæmundsson (Isl)
Hiroshi Shimizu (Jap)
Lakhwinder Singh (Ind)

Editor (JEE: Journal of Evolutionary Economics)
Bernd Ebersberger (Ger)

Auditing Committee:
Thomas Grebel (Ger)
Andreas Reisnstaller (Aut)

Secretary General/Treasurer:
Horst Hanusch (Ger)

Administrative secretary:
Mrs. Olga Gaessner
Friedrich-Schiller-University Jena
Faculty of Economics and Business Administration Carl-Zeiss-Str. 3, 07743 Jena / Germany
Phone: +49 3641 943200
Fax: +49 3641 943202


Invited Plenary Speakers

Roberto Cingolani
Roberto Cingolani graduated in Physics and obtained his “Diploma di Perfezionamento” (PhD) in Physics at Scuola Normale Superiore in Pisa. He was a staff member at the Max Planck Institute in Stuttgart and worked as a Visiting Professor at Tokyo University (Japan) and Virginia Commonwealth University (Richmond, USA). In 2000, he was appointed Full Professor of General Physics at the Engineering Faculty of University of Lecce (Italy). In 2001, he founded the National Nanotechnology Laboratory (NNL) of the National Institute of Nuclear Physics (INFN) in Lecce, which has become one of the largest international nanotechnology laboratories. Since its foundation in 2005 through to 2019, he was Scientific Director of Fondazione Istituto Italiano di Tecnologia – IIT (Italian Institute of Technology Foundation), an internationally acknowledged research center. He launched the interdisciplinary program “Humanoid Technologies” based on the idea that the technological imitation of nature and its processes may provide solutions to improve the quality of human life. Between September 2019 and February 2021, he was the Chief Technology & Innovation Officer of Leonardo, the Italian multinational company specialized in Aerospace, Defense and Security. He swore in as Minister for the Ecological Transition of Italy on February 13, 2021.


Richard Nelson
Richard Nelson earned his Ph. D in Economics from Yale University in 1956. He has been member of faculty at Oberlin College, Yale University, and Columbia University. He served as staff member of the President’s Council of Economic Advisors during the Kennedy administration, and at the RAND Corporation. His research mostly analyzes the processes involved in long run economic development, both in countries at the frontier and those trying to catch up. Particular focus has been on technological advance, its sources, and how it drives economic progress. His research interests have led to the development of an evolutionary theory of economic progress, supported by Sidney Winter. In recent years, his research in this field has explored the co-evolution of technologies, industrial structures, and institutions more broadly, and the main argument he presents is modern economies should be understood as very “mixed” in structure and workings, involving much more than market mechanisms. His research has been recognized by several research prizes, and honorary degrees.


Mariana Mazzucato
Mariana Mazzucato (PhD) is Professor of the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She is a multiple winner of international prizes including the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the ‘3 most important thinkers about innovation’ by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED. She is the author of three highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018) and the newly released, Mission Economy: A Moonshot Guide to Changing Capitalism (2021). She advises policymakers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization’s Economic Council on Health for All and a member of the South African President’s Economic Advisory Council, the Scottish Government’s Council of Economic Advisors, and the United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs, among others.


Timothy F. Bresnahan
Timothy F. Bresnahan is Professor of Economics and, by courtesy, of Business, at Stanford University. He also serves as Co-Director of the Stanford Computer Industry Project and Co-Director of the Technology and Economic Growth Program in CEPR. A 1975 graduate of Haverford College, he received the Ph.D. in Economics from Princeton in 1980. Bresnahan’s research interests lie in Industrial Organization area. He has been concerned with econometric measurement of market power and testing of models of imperfect competition. Publications in this area include a chapter in the Handbook of Industrial Organization. In the economics of technology area, he studies the economic process by which raw technology generates value in use. Publications in this area include “General Purpose Technologies,” “Large Firm’s Demand for Computers,” and “The Competitive Crash in Large-Scale Commercial Computing.” In both research areas, most of his work is detailed industry studies. His teaching interests include econometrics, industrial organization, and microeconomics. His current research includes entry and appropriability in technology industries; competition between old and new-paradigm computing; economic organization for high social return to technical progress.


Jean Paul Fitoussi
Jean-Paul Fitoussi is a Professor of Economics at the Institut d’Etudes Politiques de Paris where he has been teaching since 1982. Currently, he is President of the Scientific Council of the Institut d’Etudes Politiques de Paris and President of the Observatoire Français des Conjonctures Econoniques, an institute dedicated to economic research and forecasting. Since 1998, he has been a member of the board of the Ecole Normale Supérieure. In 1997, he became a member of the Council of Economic Analysis of the Prime Minister and in 1996, he was appointed member of the Economic Commission of the Nation. Since 2000, he has been an expert at the European Parliament, Commission of Monetary and Economic Affairs. Between1990 and1993, Dr. Fitoussi was the Chair of the Economic Advisory Board of the European Bank for Reconstruction and Development. His research has focused on the theories of inflation, unemployment, foreign trade and the role of macro- economic policies. As President of the OFCE, and founder and member of an International Economic Policy Group within this institution (composed by Anthony Atkinson, Olivier Blanchard, John Flemmig, Edmond Malinvaud, Edmund Phelps and Robert Solow), he has made numerous written contributions to the current economic policy debate, notably on issues of European economic integration, and the economics of transition.


Philippe Aghion
Philippe Aghion is a Professor at the College de France and at the London School of Economics, and a fellow of the Econometric Society and of the American Academy of Arts and Sciences. His research focuses on the economics of growth. With Peter Howitt, he pioneered the so-called Schumpeterian Growth paradigm which was subsequently used to analyze the design of growth policies and the role of the state in the growth process. Much of this work is summarized in their joint book Endogenous Growth Theory (MIT Press, 1998) and The Economics of Growth (MIT Press, 2009), in his book with Rachel Griffith on Competition and Growth (MIT Press, 2006), and in his survey “What Do We Learn from Schumpeterian Growth Theory” (joint with U. Akcigit and P. Howitt.) In 2001, Philippe Aghion received the Yrjo Jahnsson Award as best European economist under age 45, in 2009 he received the John Von Neumann Award, and in March 2020 he shared the BBVA “Frontier of Knowledge Award” with Peter Howitt for “developing an economic growth theory based on the innovation that emerges from the process of creative destruction.”


Peter Jungen
Peter Jungen is Business Angel Investor in Start-ups in Europe, the US, China and Israel. He was President of the European Business Angel Network which he co-founded with the EU-Commission (1999) and of Business Angel Netzwerk Deutschland, which he co-founded with the German Government. He is honorary Chair of the “Center of Capitalism and Society” of Columbia University and Board Member of the “Center of Global Economic Governance of Columbia University”, New York.


Institutional Speakers

Secretary General
Horst Hanusch is a Professor Emeritus at the Institute of Economics of the University of Augsburg (Germany). He is also Secretary General of the “International Joseph A. Schumpeter Society”, Founding Editor of the Journal of Evolutionary Economics and Honorary President of the International Institute of Public Finance. His main research focuses on the interplay between the real, the financial and the public sector in the process of a Schumpeterian economic development based on innovations and how such a social economic system has to be accommodated in order to capture global threats to society such as climate change and epidemics.


Massimo Egidi is Professor Emeritus at Luiss University in Rome, where he teaches Behavioral Economics and Psychology and served as former Rector. His main research interests are related to the study of bounded rational behavior in organizations and institutions, as well as in organizational learning. Reading Schumpeter’s “creative response” through the lenses of the cognitive sciences and his “Theory of Democracy” in the light of the contemporary political manipulation are his more recent research interests.


Past President
Keun Lee is a Professor of Economics at Seoul National University and is the Founding Director of the Center for Economic Catch-up., Editor of Research Policy, Associate Editor of Industrial and Corporate Change, Council Member of the World Economic Forum, and life-time Fellow of the Korea Academy of Science and Technology. He served as President of the International Schumpeter Society (2016-18) and was a member of the Committee for Development Policy of UN (2014-18).


President – Elected
Ouyang Yao graduated at Hunan Normal College, Renmin University of China and Hunan University,with an MA in Philosophy, completed a Doctorate in Economics, is a postdoctoral researcher of Chinese Academy of Fiscal Sciences (under Ministry of Finance of PRC), and a research scholar of Stanford Institute for Economic Policy Research sponsored by China Scholarship Council. Since October 2014, he works as Vice President of Hunan Normal University and is currently in charge of the Office of Science and Technology, Office of Social Science, Office of Fixed Assets Management, School of History and Culture and College of Resources and Environmental Science.


Thursday 8 July 2021

8:30 – 10:20

Parallel Session

Determinants of AI Innovation Simone Vannuccini 451
Effects of AI innovation 1 Giacomo Damioli 346
Effects of AI innovation 2 Josh Entsminger 390
Technology, Science, and Property Rights Valeria Bastos 506
Sustainability and green technologies Theoretical Insights Katharina Fritz 359
Sectors and Countries 1 Anna Novaresio 298
Sectors and Countries 2 Francesca Rubiconto 498
Sustainability and Circular Economy Nicolò Barbieri 460
10:20 – 12:40

Opening Plenary Session


Chair and Welcoming Remarks Massimo Egidi
Welcoming Remarks Andrea Prencipe, Rector, Luiss University
Keynote Speeches
Mariana Mazzucato The Direction of Innovation: A Mission-Oriented Approach
Horst Hanusch Schumpeterian Reasoning in Times of Global Epidemics and Climate Change
Philippe Aghion The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations
12:40 – 13:10 Lunch Time
13:10 – 15:10 Semi-Plenary Session

Panel I. The Governance of Artificial Intelligence


Maarten Goos and Maria Savona: The Governance of Artificial Intelligence
Elena Fumagalli, Sarah Rezaei, Anna Salomons: OK Computer: Workers’ Perceptions of Algorithmic Recruitment. Paper available at LINK
Filippo Belloci, Gabriel Burdin, Luca Cattani, William Ellis. Fabio Landini: Co-evolution of Job Automation Risk and Workplace Governance.
Joel Klinger, Juan Mateos-Garcia, Konstantinos Stathoulopoulos: A narrowing of AI research?
James Bessen; Stephen Michael Impink; Lydia Reichensperger; Robert Seamans: Barriers to Growth in Developing AI. Diane Coyle & Stephanie Diepeveen: Creating and governing value from data.
Paper available at LINK

Maria Savona 293

Panel II. Digitalisation in Manufacturing: Development Divide or Windows of Opportunities for Emerging and Industrialising Countries?


Antonio Andreoni, Simon Roberts: Governing data and digital platforms in middle-income countries: A comparative analysis of sectoral cases from South Africa.
Elisa Calza, Alejandro Lavopa, Ligia Zagato: Digitalization and industrial resilience during COVID-19 pandemic: a firm-level perspective.
João Carlos Ferraz, Julia Torracca, Ana Urraca-Ruiz, Euler Daltro, Jorge N.P. Britto: A divide in the making: Digital leaders, followers, and backward firms in the Brazilian industry.
Keun Lee, Digitalization and possibility for leapfrogging by the latecomers.
Timothy Sturgeon: Digital transformation in middle-income countries: early results from MIT’s Work of the Future Global Research Network.

Antonio Andreoni 331

Panel III. Complex Evolving Economies


Giovanni Dosi: The Foundations of The Analysis of Complex Evolving Economies: Innovation, Organization, and Industrial Dynamics.

Discussants: Carliss Baldwin, Francisco Louca, Fred Tell, Uwe Cantner

Franco Malerba 331
15:10 – 17:00

Parallel Session B

Technological Evolution: Historical and Philosophical Perspectives Giorgio Triulzi 445
Technological Evolution: Theoretical and Empirical Analyses Manuel Romagnoli 343
Technological Evolution: Specific Sectors Matteo Tubiana 407
Employment Fabio Montobbio 315
Automation Alina Sorgner 318
Institutions and Labour Markets Corrado Pasquali 383
Wages Tommaso Ciarli 414
Innovation and Finance Marco Quatrosi 466
17:00 – 18:30

Plenary Session


Keynote Speeches:

Roberto Cingolani, Italy’s Minister of Ecological Transition

Richard Nelson: The Challenge of Rebuilding Economics from a Schumpeterian Perspective.

Massimo Egidi
18:40 – 20:30

Parallel Session B

Determinants and Outcomes of Science-Industry Collaboration Lorenzo Cassi 480
Effects of Knowledge Transfers and Academic Spin-offs Maximilian Goethner 433
Determinants and Effects of Researchers’ Quality Marco Valente 404
Entrepreneurship’s Characteristics Franco Malerba 247
Emergence and Impact of Artificial Intelligence Bjorn Jindra 428


Friday 9 July 2021

8:30 – 10:30 Parallel Session C
Sources of Innovation: R&D, Patents Trust, Authorship Ke Xing 253
Private Enhancement of Innovation Stefano Bianchini 487
Entrepreneurship: Markets and Institutions Michael Fritsch 377
Competition Michael Wyrwich 380
Innovation and Growth: A Theoretical Approach Johan Karlsson 268
Innovation and Growth: An Empirical Approach Federico Riccio 324
Innovation and Pharma Industries Luigi Marengo 353
10:30 – 10:40 Break
Presidential Address
10:40 – 11:20 Massimo Egidi: Economic and Politic Polarization in Contemporary Democracies: Was Schumpeter Right?
Valentina Meliciani
11:20 – 13:00 Semi-Plenary Sessions
Panel I. Schumpeterian Economics
Cristiano Antonelli, Christophe Feder: Schumpeter and the Lamarckian Legacy.
Patrick Llerena: Towards the Economics of Idleness: the Necessary Micro -Foundation of the Production Theory. Gunnar
Eliasson: The Dynamics of Business Birth, Life and Death – An Austrian Schumpeterian perspective Gunnar Eliasson: The Theory of the Firm Revisited Michael Best: Productive Structures and Innovation Dynamics: Schumpeter’s Unmet
Cristiano Antonelli 419
Panel II. Co-evolution in Economic Systems
Isabel Almudi, Francisco Fatas-Villafranca, Jason Potts, Stuart Thomas: A Co-Evolution Model of Institutions and Technology: The Case of the Digital Technologies. Pier
Paolo Saviotti, Andreas Pyka, Bogang Jun: Understanding the Golden Age of Capitalism: The Effect of Education on Growth and Inequality. Giovanni Dosi, Francesco Lamperti, Mariana Mazzucato, Mauro Napoletano, Andrea
Roventini: The Entrepreneurial State at Work.
Isabel Almudi 250
Panel III. Technological Change and the Future of Global Value Change
Xiaolan Fu, Pervez Ghauri: Trade in Intangibles and the Global Trade Imbalance from a GVC Perspective. Rasmus Lema, Carlo Pietrobelli, Roberta Rabellotti,
Antonio Vezzani: Deepening or Delinking? Innovative Capacity and Global Value Chain Participation in the ICT sector. Filippo Bontadini, Rinaldo Evangelista, Valentina Meliciani, Maria Savona: Patterns in GVC Integration, Technology,
and Employment Structures in Europe: Country and Sectoral Evidence. Andrea Coveri, Antonello Zanfei: Functional Specialisation in FDI and Value Capture in Global Value Chains
Valentina Meliciani
13:00 – 14:30 Lunch Time
14:30– 15:0 Plenary Session: Schumpeter Award
Chair and Laudator: Ouyang Yao
Laudator: Alessandro Nuvolari
15:00 – 17:00 Semi plenary Sessions
Panel I. Innovators and Entrepreneurs. Discussant: Peter Jungen
Daniele Archibugi: Is a European Recovery Possible Without High-Tech Public Corporations? – 259
Bo Carlsson: How do you design an experimental economy?
Giovanna Capponi , Koen Frenken : Does Academic Inbreeding Affect
Scientific Success? – 398
Paper available at: LINK
Guido Buenstorf , Dominik Heinisch , Matthias Kapa: International Doctoral Graduates as Inventors in the German Innovation System – 317
available at: LINK
Koen Frenken
Panel II. Sources of Innovation

Uwe Cantner, Martin Kalthaus, Stefan Töpfer: Customers as Knowledge Sources for Innovative Activity – a Structural Framework – 425
Gino Cattani , Pierpaolo Andriani : The Underground River: Shadow Options and Innovation
Sources – 244
Mao Anran :MNEs’ overseas innovation performance: the role of external knowledge sourcing and internal embeddedness – 344
Manuel Romagnoli , Luigi Marengo , Mariano Mastrogiorgio: Sensitivity and Innovation
Attitudes as the Strategic Foundations of Exaptation – 286
Paper available at:
Luigi Marengo
Panel III. The Organizational Dimension of Innovation

Ruggero Colombari , Aldo Geuna , Susan Helper , Raphael Martins , Emilio Paolucci , Riccardo Ricci , Robert Seamans: Organizational Architecture and the Adoption and Use of New Technologies: Evidence from Italian and US Survey
Edward Lorenz, Jacob Holm: The Impact of Artificial Intelligence on Skills and Work Organization in Denmark – 245
Paper available at: LINK
Chiara Franco, Fabio Landini: Organizational Drivers of Innovation: The Role of Workforce Agility -283

Kenzen Che , I. Kim Wang , Russell Seidle: Digital transformation: learning, organizational change, and the moderating roles of firm
size and environmental dynamism – 334
Moe Kyaw Thu, Shotaro Beppu, Qi Wang, Masaru Yarime, and Sotaro Shibayama: Artificial Intelligence in Scientific Activities: An Organizational Analysis of Research Teams – 335
available at: LINK
Aldo Geuna
17:00-17:30 Plenary Session
17:30-18:40 Award of Honorary Presidency
Laudator: Richard Nelson
Keynote Speeches
Tim Bresnahan The Impact of Information Technology Use on Growth and Factor Demand
Jean Paul Fitoussi: The Happy Side of the End of Work Franco Malerba
18:40 – 20:30 Parallel Session C
Creative Industries and Platforms Ekaterina Albats 417
Global Value Chains Ann Hipp 279
Industrial Dynamics Matteo Tubiana 391
Firm Demography Daniele Giachini 392
Schumpeterian Theory Davide Antonioli 479
Routines and Creativity Giuseppe Attanasi 495
Co-evolution of digital technologies, innovation and skills. Emerging transformations of the organization of innovation activities and production Silvia Massini 438
Endogenous vs Exogenous Sources – 2 Anne Plunket 342
Sectoral Evidence Kerstin Hötte 289


Saturday 10 July 2021

8:30 – 10:10 Parallel Session D
Technology Catch-up in Industries and Sectors Alessandro Rosiello 277
Technology Catch-up in Geographic Areas Lucrezia Fanti 360
Geography Jarno Hoekman 290
Cities, Rural and Industrial Areas Bernardo Caldarola 474
Innovation Systems and Technology Transfers Daniel Weiss 496
Organizational Dimensions of Innovation Chiara Franco 283
Dedicated systems and mission-oriented innovation policies: The quest for normative orientation in the transformation of complex systems Andreas Pyka 442
10:10 – 11:50 Parallel Session E
Pandemics Beniamino Callegari 355
Effects of IPR on Innovation Elisa Palagi 332
Social and Profitability Effects of IPR Maria Kristalova 378
Evidence from Countries and Regions Michael Fritsch 399
Public Enhancement of Innovation Andrea Filippetti 473
The Governance of AI Marteen Goos 293
BOOK PRESENTATION: The Routledge Handbook of Smart Technologies. An Economic and Social Perspective Heinz D. Kurz 482
11:50 – 12:10 Parallel Session D
12:10 – 13:50 Parallel Session E
ICT and Industry 4.0 Mattia Pedota 305
Digitalisation and Performance Hugo Confraria 351
Determinants and Effects of Digitalisation Serenella Caravella 368
Robotics and Automation Ingrid Ott 481
Endogenous vs Exogenous Sources Anne Plunket 342
Sectoral Patterns of Innovation and the Evolution of Industrial Structure Julia Mazzei 357
BOOK PRESENTATION: How Capitalism Destroyed Itself William Kingston 336
13:50 – 14:10 Conference Closing Session
Horst Hanusch -Yao Ouyang
14:10 – 15:00 Lunch
15:00 – 16:00 General Assembly of the Society


Schumpeter Prize Competition 2021

The International Joseph A. Schumpeter Society (ISS) will announce the winner(s) of the 2021 Schumpeter Prize Competition. The Prize is awarded every two years in recognition of a recent scholarly contribution related to Schumpeter´s work. It carries a cash award of 10,000 EUR. The selection committee is chaired by the President-elect of the ISS, Professor Yao Ouyang.

Former Schumpeter Prize Winners
2018 John Mathews and Michael Best 
2016 Dengjian Jin, Shane Greenstein
2014 Geoffrey M. Hodgson, Keun Lee
2012 Franco Malerba, Richard Nelson, Luigi Orsenigo, Sydney Winter
2010 William Lazonick, Bart Nooteboom
2008 Mario Amendola, Martin Fransman, Jean-Luc Gaffard, Thomas McCraw, Philippe Aghion, Clifford T. Bekar, Kenneth I. Carlaw, Rachel Griffth
2006 Richard N. Langlois, Richard G. Lipsey
2004 J. Peter Murmann
2002 Steven Klepper
2000 Brian J. Loasby, Jason Potts
1998 Masahiko Aoki, Frank R. Lichtenberg, Mancur Olson
1996 Maureen D. McKelvey
1994 Elias Dinopoulos, Jean Fan
1992 Christopher Green, Richard Musgrave
1990 W. Brian Arthur, Joel Mokyr, Manuel Trajtenberg
1988 Christopher Freeman

Parallel Session A 8 July 2021
Parallel Session B 8 July 2021
Parallel Session B 8 July 2021
Parallel Session C 9 July 2021
Parallel Session C 9 July 2021
Parallel Session D 10 July 2021
Parallel Session E 10 July 2021
Parallel Session E 10 July 2021