The purpose of this paper is to examine how the Solow residual relates to innovation at the firm level. We estimate two kinds of relationships. The first relationship explains innovation output from innovation inputs. The second relationship relates TFP growth to innovation output.

The realisation of the important role that innovation played to a country's well being gave rise to the search for the best business size, capable of producing new products and processes. In this paper, the authors argue for the discarding of the conventional wisdom of Small vs Large and the...

The pharmaceutical industry is unique because of a close connection between knowledge and final product. As the quintessential science-based industry, pharmaceuticals depend heavily on high level manpower and substantial R&D for innovation. Because these requirements are costly, the industry is...

Anticipation of technological progress may induce potential buyers to delay adoption of a new product. We analyze how buyers' waiting option can alter firms' innovation strategies. It is shown that the firms' choice of innovation strategies relies on the possibility of selling products before...

This paper investigates the role of social learning in the diffusion of a new agricultural technology in a developing country: Ghana. We use unique data on farmers' communication patterns to define each individual's information neighborhood, the set of others from whom he might learn. Our...

El presente artículo tiene como objetivo hacer una revisión bibliográfica para dar luces sobre su estado actual de desarrollo conceptual. En la primera sección se analiza cómo este concepto nace como una útil metáfora para describir las interrelaciones entre instituciones, que permite que...

This paper analyzes the effects of different sources of R&D funding and patent office attributes on the patenting process. Another important contribution is modeling the effect of a random delay in the ‘pendency’ time as a stochastic process and quantifying its effect on patenting. The...

This paper studies vertical R&D spillovers between upstream and downstream firms. The model incorporates two vertically related industries, with horizontal spillovers within each industry and vertical spillovers between the two industries.