Conclusion

Abstract

The Quadruple and Quintuple Helix Innovation Theory was developed and designed almost 10 years ago (Carayannis and Campbell, Technology Management 46(3/4):201–234, 2009; Carayannis and Campbell, International Journal of Social Ecology and Sustainable Development 1(1):41–69, 2010; Carayannis and Campbell, Mode 3 knowledge production in quadruple helix innovation systems. 21st-century democracy, innovation, and entrepreneurship for development SpringerBriefs in Business. New York: Springer, 2012; Carayannis et al. Journal of Innovation and Entrepreneurship, 1 (1):1–12, 2012; Campbell and Carayannis, Epistemic governance in higher education. Quality enhancement of universities for development. SpringerBriefs in Business. New York: Springer, 2013a; Campbell and Carayannis, Encyclopedia of creativity, invention, innovation and entrepreneurship. New York: Springer, 2013b, Campbell and Carayannis, Journal of Innovation and Entrepreneurship, 5:12, 2016). In fact, in the article publication in International Journal of Technology Management (IJTM), back in 2009 (Carayannis and Campbell, Technology Management 46(3/4):201–234, 2009), it was the first time that the concept of the “Quadruple Helix”, in reference to knowledge production (research) and knowledge application (innovation), was released in context of a peer-reviewed journal. The Quadruple and Quintuple Helix Innovation Theory brought into perspective the knowledge society, knowledge democracy, social ecology (environment), and sustainable development for the purpose of advancing knowledge production and innovation activities in the knowledge economy. More specifically, the Quadruple and Quintuple Helix Innovation Theory factored in civil society, media-based and culture-based public, quality of democracy, arts (and artistic research and arts-based innovation), and the environment. The books presented here and analysis represent a next step in the evolution of Quadruple and Quintuple Helix Innovation Theory, where (1) the Quadruple Helix has been brought closer to an empirical validation and testing, and where (2) Quadruple Helix was utilized for key reference points for a model-building that focuses on analyzing possible links between innovation and economic growth. In what follows we present some insights about the econometric methodology used and about other methodologies that in our opinion might contribute to broaden our knowledge about the empirical relationships that we are testing. Notwithstanding, it should be mentioned that our brief reflection only deals with econometric methodologies that might be suited to estimate endogenous growth models for The Quadruple Helix. This can be regarded as a next step toward development and design in the building of metrics for Quadruple and Quintuple Helix Innovation Theory.