We consider an endogenous growth model that includes international trade in capital goods. The model yields several distinct balanced growth solutions that can be classified using stability under adaptive learning. Some of the equilibria can involve growth rates much higher (or lower) than...

Mit der Venture Capital (VC)-Finanzierung als Teil eines regionalen Innovationssystems sind Erwartungen verbunden, die Kommerzialisierung neuer Forschungsergebnisse in marktfähige Produkte in einer Region zu fördern. In Erwartung positiver Effekte eines solchen Kapitalzuflusses in eine Region...

In this paper we analyse the impact of the Fifth EU R&D Framework Programme (1998-2002) in the Spanish regions, considering the characteristics of the respective regional systems of innovation. The starting theoretical framework is the interactive pattern of technological change where the...

The knowledge spillover theory of entrepreneurship seeks to explain the sources of entrepreneurship and its consequences with regard to economic performance. This paper extends this theory and links it to innovation performance. We propose that a high rate of entrepreneurship facilitates the...

South Africa's overall performance in high-technology products as measured by global export shares and registered patents has been weak in comparison to other developing countries and in comparison to other commodity producers. However, a number of high-technology South African companies in a...

We compare different combinations of technology and antitrust policies from a social welfare point of view in a non-tournament model of cost reducing R&D with spillovers, for the case of a homogeneous goods duopoly, where production produces pollution as a by-product, firms face an exogenous...

In this paper we argue that government procurement policy played a role in stimulating the wave of innovation that hit the US economy in the 1980s, as well as the simultaneous increase in inequality and in education attainment. Since the early 1980s U.S. policy makers began targeting commercial...