This paper examines how endogenizing technological progress in a multicountry macroeconometric model affects the analysis of fiscal policies. It uses an expanded version of the IMF's multicountry model, MULTIMOD, in which total factor productivity (TFP) is endogenized as a function of domestic...

Since the mid 1900’s, economist have come to recognize the role of innovative activity in firms productivity growth, particularly in the competitive market economies. However, the most conducive market environment for innovative activity has also become a subject of interest. Thus, a major...

This seminal paper provides global empirical evidence on catch-up processes in scientific and technical publications. Its purpose is to model the future of scientific knowledge monopoly in order to understand whether the impressive growth experienced by latecomers in the industry has been...

The New Keynesian Real Business Cycle model with staggered price adjustment is augmented with a R&D producing sector. Two sources of economic shocks are considered, namely random paritcipation (perturbances to value of alternative investment opportunities in another sector) and financial...

This paper introduces the evolving understanding and conceptualization of innovation process models. From the discussion of different approaches towards the innovation process understanding and modeling two types of approaches to the evolution of innovation models are developed and discussed....

In the article the situation on the Russian market of mergers and acquisitions in 2005-2012 is investigated. Also was produced its comparison with the world market for key indicators. The author based on extensive statistical analysis of the material revealed the specific features and tendencies...

Starting from the failure of the R&D-patents traditional relationship, when time-series and/or within industry dimensions are included in the empirical analysis, the present work tries to contribute to the empirical literature in two directions. Firstly, it perform a Granger causality test on...

The interrelation research-development-innovation has proved crucial for raising the economic competitiveness. The comparative analysis of Romania’competitiveness in the global and European context highlights significant gaps as compared with advanced countries, mainly in R&D intensity,...

Science and Technology Parks (STPs) are one of the most important regional innovation policy initiatives. Previous studies show that location in a Park promotes cooperation for innovation but have not investigated if they help to achieve better results from cooperation. We extend previous...

Purpose Eco-innovation is any form of product, process or organisational innovation that contributes towards sustainable development. Firms can eco-innovate in a variety of ways. In this paper we identify nine different eco-innovation activities - including such items as reducing material use...