products to China. We find causal evidence that offshoring impacts both the level and nature of innovation. In the technologies … directly related to product categories that could be offshored more easily after the policy shock, overall innovation levels … decline and innovative effort shifts away from product innovation and towards process innovation. However, we also find …

This paper estimates the social returns to investments in innovation. The disparate spillovers associated with … innovation, including imitation, business stealing, and intertemporal spillovers, have made calculations of the social returns … under conservative assumptions, innovation efforts produce social benefits that are many multiples of the investment costs …

which Northern innovation, Southern imitation, and FDI are all endogenous. Our model predicts that IPR reform in the South …, Northern resources will be reallocated to R&D, driving an increase in the global rate of innovation. We test the model …

burden mechanism suggests that the nature of innovation is changing, with negative implications for long-run economic growth …

"In advanced economies like the United States, innovation has long been recognized as a central force for increasing … socioeconomic prosperity and improving human health. Today, U.S. government policy seeks to promote innovation through a suite of … Business Innovation Research program to the National Science Foundation. This book surveys key dimensions of innovation policy …

stage pharmaceutical innovation? We explore this question using novel data sources and an empirical framework that models … implications of our results for long-run welfare, policy, and innovation …