of R&D. Our work analyzes knowledge diffusion and knowledge externalities in generating innovation and in determining … productivity of R&D resources in generating innovation (patenting) and productivity (TFP). While we find that knowledge diffusion …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal … excessive (greater than first-best) R&D investment and output growth. -- legal system ; commitment ; flexibility ; innovation …

Does access to information and communication technologies (ICT) increase innovation? We examine this question by …

-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale … desire of governments to foster risky 'breakthrough' innovations. -- business taxation ; innovation ; market entry …

We empirically investigate whether the persistence of politicians in political institutions affects the innovation …' innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …