We study the optimal allocation of R&D resources in an endogenous growth model with an innovation network, through … more R&D toward key sectors that are upstream in the innovation network. Second, we extend to an open-economy setting and … spillovers has less incentive to direct resources toward innovation-upstream sectors, leading to cross-country differences in …

innovation. The features of these systems take shape as interests at different points in the production chain seek advantage in …

Investments in the US Science, Technology, Engineering, Medicine and Innovation (STEMI) enterprise come from many … innovative than government or business funding alone would yield. It also enables significant innovation in the development of …