The purpose of this working paper is to provide a short overview of actual topics in contemporary research concerned with global, national, regional and local knowledge and innovation dynamics. In the text, we stress the importance to understand the current changes of the global and their...

Economic theory tells us that abnormal firm and industry profits will not persist for any significant length of time. Any firm or industry making profits in excess of the normal rate of return will attract entrants and this competitive process will erode profits. However, a substantial amount of...