Chatelain, Jean-Bernard; Ralf, Kirsten; Amable, Bruno - In: Journal of Economic Dynamics & Control 34 (2010) 6, pp. 1094-1104
This paper studies how the assignment of patents as collateral determines the savings of firms and magnifies the effect … face random and lumpy investment opportunities in R&D. High growth rates of innovations, possibly higher than the real rate … of interest, may be achieved despite financial constraints. There is an optimal level of publicly funded policy by the …