This study tests for financial constraints on R&D investment and how they differ from capital investment. To identify constraints in the access to external capital, we employ a credit rating index. Our models show that internal constraints, measured by mark-ups, are more decisive for R&D than...

In this paper it is tested which of the various alternative approaches for constructing knowledge spillover pools suggested in existing literature measures the extent to which a firm can costlessly receive external knowlegde best. Since knowledge spillovers are unmeasurable, a 'goodness of fit'...

Theoretical considerations suggest that secrecy reduces spillovers almost completely through non-disclosure, while the disclosure requirement of patents generates some spillover and at the same time allows firms to appropriate knowledge. In this paper we empirically analyze whether protection by...

This paper derives a three stage Cournot duopoly game for research collaboration, research expenditures and product market competition. The amount of knowledge firms can absorb from other firms is made dependent on their own research efforts, e.g., firms? absorptive capacity is treated as an...

This paper derives a three stage Cournot duopoly game for research collaboration, research expenditures and product market competition. The amount of knowledge firms can absorb is made dependent on their own research efforts, e.g. firms? absorptive capacity is treated as an endogenous variable....

We examine variations in the South-North ratios (emerging vs. industrialized countries) of energy and labor intensities driven by imports. We use the novel World Input-Output Database (WIOD) that provides bilateral and bisectoral data for 40 countries and 35 sectors for 1995-2009. We find...

This North-South model of Schumpeterian endogenous growth combines a market, productivity and knowledge effect. A set of various convergent and divergent growth paths is derived that is much richer than in the literature so far. South-North convergence based on North-South technology diffusion...

The creation of spinoff companies is often promoted as a desirable mechanism for transferring knowledge and technologies from research organizations to the private sector for commercialization. In the promotion process, policymakers typically treat these 'university' spinoffs like industry...

Based on a sample of research units in science and engineering at German universities, this study reports survey evidence showing that research grants impact research content. Research units that receive funds from industry are more likely to source ideas from the private sector. The higher the...