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venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … attention to patent quality, financing those ventures faster which later turn out to have high-quality patents. Patent …
Persistent link: https://www.econbiz.de/10005662179
This Paper describes the database on US patents that we have developed over the past decade, with the goal of making it … — about 3 million patents and 16 million citations — is now available on the NBER website. We discuss key issues that arise in … to use the raw number of citations received by different patents directly in a meaningful way. To remedy this problem we …
Persistent link: https://www.econbiz.de/10005136726
patents granted by the EPO are estimated to increase by 29%. …
Persistent link: https://www.econbiz.de/10005067596
We review the role of R&D in endogenous growth theory, and describe extant empirical research – macro and micro – bearing on R&D as an engine of growth. Taking R&D to be key, while recognizing the significance of economic incentives, emphasizes knowledge as an economic object and, more...
Persistent link: https://www.econbiz.de/10005497933
We examine prizes as an inducement for innovation using a novel dataset of awards for inventiveness offered by the Royal Agricultural Society of England from 1839 to 1939. At annual shows the RASE held competitive trials and awarded medals and monetary prizes (exceeding one million pounds in...
Persistent link: https://www.econbiz.de/10005114142
detailed data on inventors contained in patents, and harness it for economic research. Patent data has long been used in … empirical research in economics, and yet the information on the identity (i.e. the names and location) of the patents’ inventors … be spelled differently across her/his patents, and the exact same name may correspond to different inventors (i.e. the …
Persistent link: https://www.econbiz.de/10005661738
This paper investigates how physical, organisational, institutional, cognitive, social, and ethnic proximities between inventors shape their collaboration decisions. Using a new panel of UK inventors and a novel identification strategy, this paper systematically explores the net effects of all...
Persistent link: https://www.econbiz.de/10011084309
Two issues related to mapping a multi-sector model into a reduced-form value-added model are often neglected: the composition of intermediate goods, and the distinction between the productivity indices for value added and for gross output. We illustrate their significance for growth accounting...
Persistent link: https://www.econbiz.de/10005025514
The economic slowdown in the 70s in Latin America and Japan in the late 90s, generated a growing skepticism about the role of industrial policy in the process of economic development. Yet, new considerations have emerged over the recent period, which invite us to revisit the issue. This paper...
Persistent link: https://www.econbiz.de/10009359485
This paper introduces endogenous and directed technical change in a growth model with environmental constraints. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation. Research can be directed...
Persistent link: https://www.econbiz.de/10009365645