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TERRA ECONOMICUS

Narrative Economics perspective on modeling national innovation system


TERRA ECONOMICUS, , Vol. 19 (no. 4),

The paper proposes a conceptual framework for studying Russian innovation system through the lens of a narrative economics approach. Applied narrative analysis involves five stages: 1) defining the range of influential media sources; 2) highlighting relevant narratives; 3) measuring the virality of narratives and revealing their connection to certain rules and institutions; 4) identifying problem situations related to key research issues; 5) assessing the influence of narratives, ideas, rules and institutions on the problem situations. We conducted a literature review relying on the co-occurrence method, and compiled mental maps to identify three domains associated with narrative economics: financial markets; the institutional environment of economy; science and education. The narratives are proposed to be classified as a) the sources of qualitative data on certain behavioral patterns, and b) simplified models related to particular scholar traditions. The research findings show six key issues featuring Russian innovation system: public administration of innovation activities; the selection of research areas; demand-based innovation; institutional structure and competitive environment; personnel for research and innovation; human resources in research and development; intellectual property. We distinguish between two approaches that complement formal modeling. Within the ex ante approach, narrative analysis precedes modeling, allowing to make related assumptions. Ex post approach deals with the conclusions resulted from a particular model application. Relying on the research findings, we use relevant narratives to supplement the explanatory hypotheses and interpret the problem situation.
Citation: Volchik V.V., Maslyukova E.V. (2021). Narrative Economics perspective on modeling national innovation system. Terra Economicus 19(4): 36–50. DOI: 10.18522/2073-6606-2021-19- 4-36-50
Acknowledgment: This paper is supported by the Russian Science Foundation, research project RSF 21-18-00562 «Developing the national innovation system in Russia in the context of narrative economics».


Keywords: narrative economics; institutional environment; Russian innovation system; innovation system modeling; institutional economics

JEL codes: B52, O30

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606