An Analysis of Innovation Classification and Typology: A Literature Review

Abstract:

Innovations have always played a key role in economics. It is also a central and enduring research topic for academics, which have spent the last 100 years defining, explaining and measuring innovation in its many forms. The purpose of this paper is to focus on similarity and/or heterogeneity of innovation definitions and typology to show as the present economic professional literature uses different names to indicate the same – innovation and its types.