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Title: Professor Job Title: Innogen Economics Director Tel: +44 (0) 1908 659191 Fax: +44 (0) 1908 654488 Email: m.mazzucato@open.ac.uk Building: Social Science, Economics, The Open University, Walton Hall, Milton Keynes, MK7 6AA Room Number:
Mariana Mazzucato is a Professor of the Economics of Innovation at the Open University (UK), where she is also Deputy Director of the research centre: Innovation, Knowledge and Development (IKD). She is an Economics Director at the ESRC Innogen Centre. After receiving her PhD in Economics in 1997 from the New School for Social Research, NY, she completed a Marie Curie funded Post-Doc in Economics at the London Business School. From 1997-1999 she was an Assistant Professor of Economics at the University of Denver. During 2007-2010 she was a Visiting Professor at the Bocconi University-CESPRI centre.
In November 2011, Mariana will begin her new post at the University of Sussex as a R.M. Phillips Professor of Science and Technology Policy in SPRU – Science and Technology Policy Research in the School of Business Managementand Economics. She will remain at the Open University as Visiting Professor.
Further information about Mariana can be found on her webpage.
Books
Mazzucato, M., Lowe, J., Shipman, A., and Trigg, A., (2010) Personal Investment: Financial Planning in an Uncertain World, Palgrave Macmillan, Basingstoke UK, ISBN-13:978-0-230-24660-7,304 pages.
Mazzucato, M. and Dosi, G. (eds) (2006) Knowledge Accumulation and Industry Evolution: Pharma-Biotech, Cambridge University Press, Cambridge UK, 446 pp. ISBN 0-521-85822-4
Mazzucato, M. (2000) Firm Size, Innovation and Market Structure: The Evolution of Market Concentration and Instability, Edward Elgar, Northampton, MA, 138 pp. ISBN 1-84064-346-3
Mazzucato, M. (ed.) (2002) Strategy for Business, A Reader, Sage Publications, London, 378 pp. ISBN 0-7619-7413-X
Articles
Demirel, P. and Mazzucato, M. (2011), “Innovation and Firm Growth: Is R&D Worth It?”, forthcoming Industry and Innovation.
Demirel, P. and Mazzucato, M. (2010), "The Evolution of Firm Growth Dynamics in the US Pharmaceutical Industry: Is 'Structure' in the Growth Process Related to Size and Location Dynamics?", Regional Studies, Vol. 44 (8), pp.1053-1066.
Mazzucato, M. and Tancioni, M. (2008), “Idiosyncratic Risk and Innovation: A Firm and Industry Level Analysis,” Industrial and Corporate Change, Vol. 17 (4), pp.779-811.
Mazzucato, M (2006), “Innovation and Stock Prices,” Revue de L’Observatoire Francais de Conjonctures Economiques,” June 2006, Special Issue on Industrial Dynamics, Productivity and Growth.
Mazzucato, M. and Tancioni, M. (2005) 'Indices that capture creative destruction: questions and implications', Issue 110, 2nd trimester, pp.199-218
Mazzucato, M. (2003) 'Risk, variety and volatility: growth, innovation and stock prices in early industry evolution', Journal of Evolutionary Economics, Vol. 13, Issue 5, pp.491-512
Geroski, P. and Mazzucato, M. (2002) 'Learning and the sources of corporate growth', Industrial and Corporate Change, Vol. 11, Supplement 1, pp.623-644
Mazzucato, M. (2002) 'The PC Industry: New Economy or Early Life-Cycle?', Review of Economic Dynamics, Vol. 5, Issue 2, pp.318-345
Geroski, P. and Mazzucato, M. (2002) 'Myopic Selection', Metroeconomica, Vol. 53, Issue 2, pp.181-199
Mazzucato, M. and Semmler, W. (2002) 'The Determinants of Stock Price Volatility: An Industry Study', Nonlinear Dynamics, Psychology, and Life Sciences, Vol. 6, Issue 2, pp.197-216
Mazzucato, M. (2002), “Innovation, Organization and Economic Dynamics” (Review Article), Journal of Economic Behavior and Organization, Vol. 47 (3), pp.335-341.
Geroski, P. and Mazzucato, M. (2001) 'Modelling the dynamics of industry populations', International Journal of Industrial Organization, Vol. 19, Issue 7, pp. 1003–1022
Mazzucato, M. (2000), “Firm Size, Innovation, and Market Share Instability: the Role of Negative Feedback and Idiosyncratic Events,” Advances in Complex Systems, Vol. 3 (1-4), pp.417-431.
Mazzucato, M. and Semmler, W. (1999) 'Market share instability and stock price volatility during the industry life-cycle: the US automobile industry', Journal of Evolutionary Economics, Vol. 9, Issue 1, pp.67–96
Mazzucato, M. (1998) ' A computational model of economies of scale and market share instability', Structural Change and Economic Dynamics, Vol. 9, Issue 1, pp.55-83
Articles Under Review
Mazzucato, M. and Tancioni, M. (2006), “Stock Price Volatility and Patent Citation Dynamics: the case of biotech-pharma” Open University Discussion Paper, 52-2006,
Work in progress
Stock Prices and Technological Change: A Schumpeterian View of Bubble Dynamics, Edward Elgar.
“Fat Tails and Growth: understanding the ‘structure’ behind the innovation-growth relationship”, with Pelin Demirel.
“Market Share Instability and Innovation in Turkish Banking,” with Elif Terzi.
“R&D, Growth and Venture Capital: a quantile regression approach,” with Stuart Parris.
Book chapters
Mazzucato, M. (2010), ‘Bubbles & Investment Behaviour’ in ‘Personal Investment: Financial Planning in an Uncertain World’, eds M.Mazzucato et al. Palgrave Macmillan, Basingstoke UK, pp.263-310. ISBN-13:978-0-230-24660-7.
Dosi, G. and Mazzucato, M. (2006), “Knowledge Accumulation and Industry Evolution: An Introduction,” in Knowledge Accumulation and Industry Evolution: Pharma-Biotech, Ed. by M. Mazzucato and G. Dosi, Cambridge University Press (2006).
Orsenigo, L., Dosi, G. and Mazzucato, M. (2006) “The Dynamics of Knowledge Accumulation, Regulation and Appropriability in the Pharma-Biotech Sector: some Policy Issues,” in Knowledge Accumulation and Industry Evolution: Pharma-Biotech, Ed. by M. Mazzucato and G. Dosi, Cambridge University Press (2006).
Mazzucato, M. (2003), “Risk, Variety and Volatility: Growth Innovation and Stock Prices in Early Industry Evolution,” in Entrepreneurship, the New Economy and Public Policy, edited by Cantner, U., Dinopoulos, E. and Lanzilotti, R., Springer, New York, 2003: pp. 33-55. ISBN 3-540-22613-3.
Geroski, P. and Mazzucato, M. (2003), “Advertising and the Evolution of Market Structure in the US Car Industry,” in Waterson M ed., Competition, Monopoly and Corporate Governance,Edward Elgar, 2003, pp. 33-55. ISBN 978-3-540-22613-0.
Mazzucato, M. (2003), “Information Technology: A New Era?,” in Economics and Economic Change, edited by Dawson, G. and Mackintosh, M., The Open University (DD202 course text), 2003, pp.21-48. ISBN 0-7492-5369-X.
Geroski, P. and Mazzucato, M. (2002) 'Selection and the Learning Curve' in Applied Evolutionary Economics: New Empirical Methods and Simulation Techniques, Ed. Elgar, Northampton, MA, : pp. 212-234.
Mazzucato, M. and Semmler, W. (2000) “Market Share Instability and Stock Price Volatility During the Industry Life Cycle: the US Automobile Industry,” in S. Klepper (Ed.), in Economic Evolution, Learning, and Complexity, Heidelberg: Physica Verlag, 2000: pp. 97-126. ISBN 3-7908-1275-7.
Mazzucato, M. , (2000) 'Firm Size, Innovation and Market Share Instability: The Role of Idiosyncratic Events on the Feedback Between Firm Size and Innovation,' in Applications of Simulation to Social Sciences, Hermes Science Publishing, Oxford, pp. 417-431. ISBN 1-903398-04-5.
Working papers
Number 64 - Mazzucato M, Tancioni M (July 2008) Stock Price Volatility and Patent Citation Dynamics: the case of the pharmaceutical industry (64)
Number 63 - Demirel P, Mazzucato M (July 2008) Does Market Selection Reward Innovators? R&D, patents, and growth in the US Pharmaceutical Industry (63)
Number 62 - Mazzucato M, Tancioni M (July 2008) Innovation and Idiosyncratic Risk: an Industry and Firm Level Analysis (62)
Number 48 - Mazzucato M, Tancioni M 'Entry, Competence-Destroying Innovations, volatility and growth: Lessons from different industries'
Number 43 - Mazzucato M, Geroski, P. 'Learning and the Sources of Corporate Growth'
Number 41 - Mazzucato M, 'Risk, Variety and Volatility in the Early Auto and PC Industry'
Number 39 - Mazzucato M, Semmler W. 'The Determinants of Stock Price Volatility: An Industry Study'
Number 38 - Mazzucato M, Geroski, P. 'Advertising and the Evolution of Market Structure in the US Car Industry during the Post-War Period'
Number 37 - Mazzucato M, Geroski, P. 'Modelling the Dynamics of Industry Populations'
Number 18 – Mazzucato M, 'The Effect of Idiosyncratic Events on the Feedback between Firm Size and Innovation'
Teaching
Bocconi University (Spring 2007, Winter 2008): Econ 8205, Industry Dynamics and International Competitiveness (Masters).
Bocconi University (Autumn 2007): Econ 8425, Economics of Innovation (Masters) .
Open University, Department of Economics - DD202, Economics and Economic Change - Author of Chapter 2 “Information Technology: A New Era?,” (12,000 words). Provided large contribution to material used for Block 1 “Are We Living Through a New Industrial Revolution”.
Open University, Business School - B300, Business Behaviour in a Changing Environment - Wrote and organised all the material for Strategy Module of B300 (module 2 of 3). Editor of Reader on Strategy for Business, ISBN 0-7619-7413-X. Author of extensive Study-Guide for all 6 sections of Module 2: Strategy (35,000 words)
Reinventing the Wheel, TV film on innovation and industry life-cycle featuring work and interviews by Mariana Mazzucato. Aired prime time on BBC2, June 2002.
In the Media
Television and Visual
Interviewed by BBC World News 'Business Edition' presenter Jamie Robertson on the economic impact of the volcanic eruption in Iceland. BBC World News, 16 April 2010. www.marianamazzucato.com/media.php
Academic expert in ‘Inside Story’, 22 minute TV programme on Toyota Recall and its impact. Presented by Mike Hanna. Produced by Al Jazeera English, first aired prime time on Al Jazeera English TV, 7 February, 2010. english.aljazeera.net/programmes/insidestory/2010/02/2010288052548169.html
iTunes 30 min. film, produced by Angel Eye, “The Dot.com Bubble”, featured in interviews. March 2010.www.marianamazzucato.com/media.php
Key role in the design and development of the film ‘Rules of the Game’, 30 minute TV film on innovation and the industry life-cycle. Featuring work and interviews by academic experts: Mariana Mazzucato, Paul David, and Clive Sinclair. Presented by PY Gerbeau. Produced by BBC, first aired prime time on BBC2, June 2002. www.open2.net/moneyandmanagement/management_organisation/reinlife.html
Radio
Business News: BBC Radio 4 (29 June 2010) - Expert opinion on how the UKcan become more export driven. news.bbc.co.uk/today/hi/today/newsid_8770000/8770532.stm
News
‘How to build an ideas factory’ (9 October 2010) - opinion piece in the Guardian discussing contradictions in the Tory dream of turning the UKinto a hotbed of innovation. www.guardian.co.uk/commentisfree/2010/oct/09/uk-innovation-ideas-factory
'Intelligent investment in innovation' (Spring 2010) - article in the CIMA: Excellence in Leadership discussing how intelligent approach to innovation can prevent over-investment. edition.pagesuite-professional.co.uk/launch.aspx?eid=76829e00-10f4-48a8-9aac-1e4cb0adc7a1&pnum=52
‘Spending cuts will derail our recovery’ (16 April 2010) - opinion letter in The Times on the risk of spending cuts.
'US healthcare reform is not an act of meddling' (6 April 2010) - opinion piece in The Guardian discussing US healthcare reform, noting that Government intervention in markets and industries have often prompted innovation. www.guardianpublic.co.uk/us-healthcare-reform-innovation
‘Innovate and Survive’ (April 2010) – article in the Money Making magazine discussing the impact of creation of new products and services on future business growth.
‘Green Technology could save Toyota’(February 2010) - interview article in the online magazine TakePart.com talking about solutions to address Toyota’s crisis. www.takepart.com/news/2010/02/08/green-technology-could-save-toyota
‘Who Really Funds Innovation?’ (Jan 2010) – analysis piece for GrowthBusiness.co.uk on how the state plays a greater role in entrepreneurship than it gets credit for. www.growthbusiness.co.uk/channels/raising-finance/startup-finance/1143253/who-really-funds-innovation.thtml
'Economic Insight' column (Jan 2010) – opinion piece in the Business XL discussing how funding innovation helps keep a country ahead in the knowledge economy. www.businessxl.co.uk/businessxl-magazine/business-bulletin/1104072/economic-insight.thtml
'Fixing the Broken Innovation Model' (Dec 2009) – opinion piece for Pharmaceutical Executive Europe. digital.findpharma.com/nxtbooks/advanstaruk/pee_digest_20091222/#/8/OnePage
Mariana is involved in the following Innogen projects:
Professor Mazzucato’s research uses theoretical, empirical and computational techniques to study the feedback between technological change, firm performance and industrial market structures. Her work highlights the origin and evolution of persistent differences between firms and the evolution of these differences over the industry life-cycle. Her empirical work has focussed on automobile, personal computer and biotech-pharmaceutical industries. Her most recent work has related—theoretically and empirically—the dynamics of technological change and industrial instability to the dynamics of stock price volatility.
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