Growth through heterogeneous innovations

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dc.contributor Bank of Finland
dc.contributor.author Akcigit, Ufuk
dc.contributor.author Kerr, William R.
dc.date.accessioned 2014-09-22T07:58:14Z
dc.date.available 2014-09-22T07:58:14Z
dc.date.issued 2013
dc.identifier.isbn 978-952-6699-49-3
dc.identifier.issn 1456-6184
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/7561
dc.description.abstract 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. JEL Classification: O31, O33, O41, L16 Keywords: Endogenous Growth, Innovation, Exploration, Exploitation, Research and Development, Patents, Citations, Scientists, Entrepreneurs
dc.format.extent 84 s.
dc.language.iso eng
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject yritykset
dc.subject innovaatiot
dc.subject R&D
dc.subject patentit
dc.subject vaikutukset
dc.subject talouskasvu
dc.subject yrittäjät
dc.subject mallit
dc.subject SP
dc.subject RP
dc.title Growth through heterogeneous innovations
dc.type Sarjajulkaisu
dc.identifier.urn URN:NBN:fi:bof-20140807340
dc.subject.jel O31
dc.subject.jel O33
dc.subject.jel O41
dc.subject.jel L16
dc.series.name Bank of Finland Research Discussion Papers
dc.series.year 2013
dc.series.number 28/2013
dc.series.sortingnumber 0028
dc.date.publication 19.11.2013

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