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In many growth models, economic growth arises from people creating ideas, and the long-run growth rate is the product of two terms: the effective number of researchers and their research productivity. We present a wide range of evidence from various industries, products, and firms showing that...
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effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …
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We use an innovative methodology to measure management practices in over 300 manufacturing firms in the UK. We then match this management data to production and energy usage information for establishments owned by these firms. We find that establishments in better managed firms are significantly...
Persistent link: https://www.econbiz.de/10012464253
Employing a sample of renowned U.S. inventors that combines biographical detail with information on the patents they received over their careers, we highlight the impact of early U.S. patent institutions in providing broad access to economic opportunity and in encouraging trade in new...
Persistent link: https://www.econbiz.de/10012467721
Recent scholarship highlights the importance of institutions to the processes of economic growth, but the precise nature of their relationship bears further examination. This paper considers how the evolution of legal institutions has contributed to, and in turn been affected by, major...
Persistent link: https://www.econbiz.de/10012468347
This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …
Persistent link: https://www.econbiz.de/10012469440
Debates have long centered around the relative merits of prizes and other incentives for technological innovation. Some … proof of the efficacy of innovation prizes. The Society initially was averse to patents and prohibited the award of prizes … technological innovation and long-term economic development …
Persistent link: https://www.econbiz.de/10012455638
findings in part explain why innovation prizes lost favour as a technology policy instrument in both the United States and …
Persistent link: https://www.econbiz.de/10012457293