Arbeitspapier
Leadership cycles
We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new entrant. Initially, new leaders are eager to enlarge their lead and do much of the research, but if they innovate repeatedly, their propensity to invest in R&D decreases. Eventually they stop doing research altogether, and as they are overtaken a new cycle starts. The model generates a skewed firm size distribution and a deviation from Gibrat's law that accord with the empirical evidence. We also consider various policy measures, showing that in some cases policy should favour R&D by incumbents, not outsiders, and that stronger patent protection may reduce innovation and growth.
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 2010,35
- Klassifikation
-
Wirtschaft
Management of Technological Innovation and R&D
- Thema
-
Technological Lead
Innovation
R&D
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Denicolò, Vincenzo
Zanchettin, Piercarlo
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Denicolò, Vincenzo
- Zanchettin, Piercarlo
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 2010
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