A new model of economic growth introduces the knowledge filter between new generic knowledge and economically-useful knowledge. It identifies both the formation of new ventures and the absorptive capacity of incumbent firms as the mechanisms that penetrate the knowledge filter. Recent empirical...

A new model of economic growth introduces the knowledge filter between new knowledge and economically useful knowledge. It identifies both new ventures and incumbent firms as the mechanisms that penetrate the knowledge filter. Recent empirical work has shown that new firms are more proficient at...

New knowledge in the form of products, processes and organizations leads to opportunities that can be exploited commercially. However, converting new ideas into economic growth requires turning new knowledge into economic knowledge that constitutes a commercial opportunity. Acs, Audretsch,...

A spatial econometric method is used to determinewhether new ventures matter more than incumbent firms in allowing knowledgespillovers to contribute to economic growth. The model introduces a"knowledge filter" between new knowledge and economic knowledge thatconstitutes a commercial opportunity....

Acs, Audretsch, Braunerhjelm, and Carlsson (2003) propose a new growth theory model featuring a geographically constrained spillover mechanism provided by new ventures and incumbent firms that convert a region’s stock of knowledge into economically useful, firm-specific knowledge. This implies...

A new model of economic growth introduces the knowledge filter between new knowledge and economically useful knowledge. It identifies both new ventures and incumbent firms as the mechanisms that penetrate the knowledge filter. Recent empirical work has shown that new firms are more proficient at...