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This paper contributes the analysis of the persistence of innovation activities, as measured by different innovation …&D investments in innovation persistence and analyses differentiated patterns of persistence across product and process innovation … of innovation persistence. The highest level of persistence is found for R&D-based innovation activities, witnessing the …
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We investigate the mechanisms of knowledge governance and show that the actual economic benefits stemming from knowledge externalities depend on the characteristics of (a) the sources of such externalities, (b) the context in which spillovers take place, (c) the potential users of the...
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This paper characterizes the optimal time path of R&D and capital subsidization. Starting from the steady state under current R&D subsidization in the US, the R&D subsidy should significantly jump upwards and then slightly decrease over time. There is a small loss in welfare, however, from...
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This paper develops a theory in which oligarchic ownership of land or other natural resources may impede entrepreneurship in the manufacturing sector and may thereby retard structural change and economic development. We show that, due to oligopsony power of owners in the agricultural labor...
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A simple semi-endogenous growth model is employed to show that optimal subsidization of both R&D and capital costs is independent of the distribution of R&D skills in the workforce. This holds despite the empirically supported fact that a higher R&D subsidy rate raises wages of R&D workers.
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