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The growth process for a technological leader is different from that of a follower. While followers can grow through imitation and capital deepening, a leader must undertake original research. This suggests that as the gap between the leader and the follower narrows, the follower must undertake...
Persistent link: https://www.econbiz.de/10010604936
Fingold and Soskice (1988) argue that Britain is trapped in a "low-skills" equilibrium. In Redding (1996), this notion is formalized in a dynamic model which relies on strategic complementarities between firms' investments in R&D and workers' investments in human capital. In this paper, we...
Persistent link: https://www.econbiz.de/10005776252
This paper builds a dynamic stochastic general equilibrium (DSGE) model of endogenous growth that is capable of generating substantial degrees of endogenous persistence in productivity.  When products go out of patent protection, the rush of entry into their production destroys incentives for...
Persistent link: https://www.econbiz.de/10008725684
property, innovation and diffusion in emerging countries.  It applies this literature to the Indian case.  India  is a … third section the focus turns to recent science, technology and innovation policy in India.  A study of the country …'s potential for innovation by the World Bank in 2007 argued that India must proceed on two fronts.  In addition to considering how …
Persistent link: https://www.econbiz.de/10011004399
Using novel data on European firms, this paper examines the effect of business group affiliation on innovation. We find … that business groups foster the scale and novelty of corporate innovation. Group affiliation is particularly important in … industries that rely more on external finance and have a higher degree of information asymmetry. We also find that the innovation …
Persistent link: https://www.econbiz.de/10005090691
Economists view intellectual property rights (IPRs) as policy tools for encouraging innovation. There are many types of …
Persistent link: https://www.econbiz.de/10005047985
The commercial value of basic knowledge depends on the arrival of follow-up developments mostly from outside the boundaries of the inventing firm. Private returns would depend on the extent the inventing firm internalizes these follow-up developments. Such internalization is less likely to occur...
Persistent link: https://www.econbiz.de/10005047750
It is shown that spillovers can enhance private returns to innovation if they feed back into the dynamic research of …` knowledge is reabsorbed by its inventor. A simple model of sequential innovation with dynamic spillovers is developed, which …
Persistent link: https://www.econbiz.de/10005051149
Models of macroeconomic learning are populated by agents who possess a great deal of knowledge of the "true" structure … of the economy, and yet ignore the impact of their own learning on that structure; they may learn about an equilibrium …, but they do not learn within it.  An alternative learning model is presented where agents' decisions are informed by …
Persistent link: https://www.econbiz.de/10009421152
are in the dark about others' actions and the payoff structure.  This paper analyzes learning behavior in such 'black box … we study voluntary contributions games.  We identify two robust features of the players' learning dynamics: search …
Persistent link: https://www.econbiz.de/10011158994