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most important preconditions of Russia’s transition to an innovation-oriented type of economic development, and offered … instruments for Russia’s transition to an innovation-oriented type of economic development. As a result, the authors developed …
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In this paper we analyze an inter-temporal optimization problem of a representative firm that invests in horizontal and vertical innovations and that faces a constraint with respect to total R&D spending. We find that there can exist two different steady-states of the economy when the amount of...
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innovation. Nevertheless, the relationship between patents and economic growth remains uncertain. This relationship, which forms …
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