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-producing country such as the U.S. is associated with a 0.15% lower level of productivity. Second, technological knowledge has become … more global over the sample period. As a determinant of productivity, foreign R&D has significantly gained in importance …
Persistent link: https://www.econbiz.de/10014164142
In this paper, we build a dynamic model with endogenous firm-level productivity that generates firm heterogeneity as an … equilibrium outcome. Firm heterogeneity arises in equilibrium from the gradual diffusion of a technological innovation through the … positive impact on the equilibrium rate of adoption (and hence firm-level productivity). In addition, the model can replicate …
Persistent link: https://www.econbiz.de/10014062630
In this paper, I analyze recent findings by Coe and Helpman (1995) of trade-related international R&D spillovers. I show generally that randomly created bilateral trade shares also give rise to large estimated international R&D spillovers; often, in fact, to larger estimated spillover effects...
Persistent link: https://www.econbiz.de/10014190059
This paper aids our understanding of the link between innovation and exporting behavior by detailing how firms may … purposefully decide on the source country for the imported innovation and the market that they ultimately serve. We argue that … 1998-2001, suggest the existence of positive and highly significant effect of spending on new technology on the export …
Persistent link: https://www.econbiz.de/10008587770
The desire to increase manufacturing productivity has been a commonly cited goal of the trade liberalization episodes … in productivity. However, this paper finds that the methodology used in the literature ignores inter …-industry productivity spillovers and suggests that this omission biases estimates of the impact of import tariff reduction on industry …
Persistent link: https://www.econbiz.de/10011113736
Although the national media has given increased attention to the venture capital process, misconceptions continue to proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors demand very high rates of return to compensate for...
Persistent link: https://www.econbiz.de/10011310374
This paper examines the where, when and why of first round entrepreneurial investment activity in the United States from the first quarter of 1995 until the second quarter of 2010. The paper analyzes these venture capital investments taking into consideration the role of macroeconomic variables,...
Persistent link: https://www.econbiz.de/10013123254
A literature review demonstrates credible evidence linking higher firm-specific stock return volatility to a more efficient stock market on one hand; and to higher firm-specific fundamentals volatility on the other. These results are reconciled if (1) market efficiency is interpreted as...
Persistent link: https://www.econbiz.de/10013082794
What are the effects of macroeconomic variables on venture-backed capital investment in environmentally friendly industries in the United States? What is the significance of location in determining both the number of deals and amount of investment by venture capital in the Clean-tech industry?...
Persistent link: https://www.econbiz.de/10013070022
This paper examines venture capital investment activity in the United States during the period 1995 to the first quarter 2009, taking into consideration both location and industry sector. The research question is whether industry and region are important factors in determining venture capital...
Persistent link: https://www.econbiz.de/10013070502