We study how external versus internal innovations promote economic growth through a tractable endogenous growth framework with multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in external R&D to acquire new product lines and in internal R&D to improve their existing...

We document a series of new facts about the very first firms and patents that form new edges in the directed citation networks across patent categories. We call them pathfinder firms and patents. First, the typical pathfinder firms are very larger firms. Second, the average pathfinder patents...

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multiproduct firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to...

We build a tractable growth model where multi-product incumbents invest in internal innovations to improve their existing products, while new entrants and incumbents invest in external innovations to acquire new product lines. External and internal innovations generate heterogeneous innovation...

This study examines the relationship between innovation and economic growth. More precisely, it seeks to check whether African countries should choose to innovate locally by investing in research and development (R&D) instead of importing innovative technology. To achieve this goal, we used a...

This product cycle model captures how imitation can serve as a stepping stone enabling firms from Southern countries to undertake innovation. Successful imitation of the state-of-the-art quality level makes inventing an even higher quality level attractive for Southern firms. Subsidizing...

This research sheds light on the role of product scope on the innovation activity of multinational multi-product firms. We use patent citation data to break down innovation into two types by measuring the degree to which innovation performed by firms is fundamental and the extent to which the...

There has been a longstanding concern about protecting intellectual capital. The legislation awards a generator of the capital with a finite period of a monopoly right to access it.Under the protection, a right holder may exclusively exploit its intellectual capital and assign or license the...