What do we know about the relationship between innovation and productivity among firms? The workhorse model of this … innovation are derived. The recent empirical evidence on the relationship between innovation and productivity in firms is then … the impact of process innovation is more ambiguous, suggesting some market power on the part of the firms being analyzed. …

The contribution of new technology to economic growth can only be realized when and if the new technology is widely … of growth and for the creators and producers of such technologies. Section II of this article discusses the modeling of …

Evidence on the “funding gap” for investment innovation is surveyed. The focus is on financial market reasons for … firms experience high costs of capital that are only partly mitigated by the presence of venture capital, the evidence for … high costs of R&D capital for large firms is mixed. Nevertheless, large established firms do appear to prefer internal …