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Timo J. Hamalainen, Risto Heiskala, "Social Innovations, Institutional Change and Economic Performance"

`A much needed examination of a neglected issue - how societies, regions and institutions adjust to our rapidly changing economic world.'

- W. Brian Arthur, Santa Fe Institute, New Mexico

`This is a marvellously rich work of synthesis, bringing together a very wide range of theoretical perspectives to make sense of contemporary patterns of economic and social change. Its range of reference is remarkable - and it is further proof that much of the most interesting theoretical and empirical work today is being done on the boundaries of disciplines.'

- Geoff Mulgan, Director, The Young Foundation, Founder, Demos and formerly Head of Policy, Prime Minister's Office, UK

`A very relevant and insightful perspective on institutional change and economic renewal in regions, countries and corporations.'

- Yves L. Doz, INSEAD, France

This book examines the nature of social innovation processes which determine the economic and social performance of nations, regions, industrial sectors and organizations.

The current transformation of the world economy underlines the importance of systemic adjustment capacity for the long-term success of industrial economies. The expert contributors outline a theory of social innovation which differentiates between incremental and radical change processes, and suggests areas where policy makers can facilitate proactive changes. Case studies highlight the various rigidities of structural adjustment processes, the economic importance of systemic adjustment capacity, and the challenges of social innovation and structural change in different societies, regions and sectors.

An important contribution to the emerging research on social innovations, this book offers invaluable insights for all decision makers struggling with structural adjustment challenges. As such, it will prove essential reading for scholars and students focusing on social and economic innovation and change processes, national and regional development, and economic competitiveness and growth. National, regional, sectoral and organizational policymakers and strategists will also find much to interest them within this book.

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