Growth through heterogeneous innovations

Arbeitspapier

We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to improve their existing product lines. We model and show empirically that exploration R&D does not scale as strongly with firm size as exploitation R&D. The resulting framework conforms to many regularities regarding innovation and growth differences across the firm size distribution. We also incorporate patent citations into our theoretical framework. The framework generates a simple test using patent citations that indicates that entrants and small firms have relatively higher growth spillover effects.

Angaben zum Objekt

• ISBN: 978-952-6699-49-3
• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Bank of Finland Research Discussion Papers ; No. 28/2013

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Innovation and Invention: Processes and Incentives ; Technological Change: Choices and Consequences; Diffusion Processes ; One, Two, and Multisector Growth Models ; Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
• Thema: Endogenous Growth ; Innovation ; Exploration ; Exploitation ; Research and Development ; Patents ; Citations ; Scientists ; Entrepreneurs

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Akcigit, Ufuk ; Kerr, William R.
• Ereignis: Veröffentlichung
• (wer): Bank of Finland
• (wo): Helsinki
• (wann): 2013

Weitere Informationen

• Handle: http://hdl.handle.net/10419/212268
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ