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 …

quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …

or stifle innovation. Using three distinct sources of variation to identify rising trade exposure, we provide a causal …-level and technology class-level patent production. Accompanying this fall in innovation, global employment, sales …