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1.
Endogenous technical advance and the stochastic trend in output: A neoclassical approach 总被引：2，自引：0，他引：2
In the recent endogenous growth literature, the trend in output is stochastic, while investment in scientific knowledge is treated as analogous to a capital stock. This paper models both research and development (R&D) and disembodied technical advance using neo-classical equations, which specify the equilibrium stocks as a function of prices and output. The elasticity of R&D in the production function, estimated using factor shares, is time-varying and increasing. Returns to scale are increasing in all factors. The most important aspect of the model is that the equilibrium rate of technical advance is not cyclically invariant, but co-moves with output at business cycle frequencies. This allows the production function to behave as a stochastic trend. Growth accounting demonstrates that long-term variations in the rate of productivity growth have been associated mainly with low-frequency fluctuations in the rate of disembodied technical advance, with secondary effects from the stocks of R&D and physical capital. During the high productivity period 1948–1972, technical advance contributed 1.48 percentage points per year to output, with 0.98 accounted for by R&D. The productivity slowdown of the mid-1970s was accounted by a gradual decline in the effect of R&D, and a more abrupt collapse in disembodied technology. The subsequent productivity revival was associated with two accelerations in disembodied technical advance, the first beginning in the early 1980s, and the second in the mid-1990s. The production function is simulated in a small econometric model. Model simulations find that exogenous shocks to the inflation rate generate significant variations in growth by inducing fluctuations in disembodied technology. 相似文献
2.
We analyse the impact of R&D cooperation on firm performance differentiating between four types of R&D partners (competitors, suppliers, customers, and universities and research institutes), and considering two performance measures: labour productivity and productivity in innovative (new to the market) sales. Using data on a large sample of Dutch innovating firms in two waves of the Community Innovation Survey (1996, 1998), we examine the impact of R&D cooperation in 1996 on subsequent productivity growth in 1996–1998. The results confirm a major heterogeneity in the rationales and goals of R&D cooperation. Competitor and supplier cooperation focus on incremental innovations, improving the productivity performance of firms. University cooperation and again competitor cooperation are instrumental in creating innovations generating sales of products that are novel to the market, improving the growth performance of firms. Furthermore, customers and universities are important sources of knowledge for firms pursuing radical innovations, which facilitate growth in innovative sales in the absence of formal R&D cooperation. 相似文献
3.
Sourcing technological knowledge through corporate acquisition: Evidence from an international sample of high technology firms 总被引：2，自引：0，他引：2
We investigate the prevalence of the motive to source technological knowledge externally through corporate acquisition. Drawing on make-or-buy and organizational learning theories, we infer the implications of this explanation for the acquirers' pre-acquisition innovative characteristics. Using an international sample of 6106 high technology acquisitions during 1984–2000, we assess the contribution of innovative characteristics to the acquisition likelihood. For firms acquiring small private firms and former subsidiaries—but not public targets—the evidence is consistent with three propositions: (1) A firm's commitment to internal R&D is negatively affected by the decision to acquire; (2) Low R&D productivity increases the likelihood of acquisition; (3) A large knowledge stock predisposes firms to acquire because they perceive they are capable of selecting and absorbing targets. We conclude that acquisitions of small private firms and former subsidiaries are a viable R&D strategy to explore a range of potential future innovation trajectories for large public firms. 相似文献
4.
Electricity sector liberalisation has coincided with a significant decline in R&D spending. This paper reviews the industrial organisation literature on R&D and innovation to explore the likely causes of the decline in R&D spending in the electricity sector. Meanwhile, R&D productivity and innovative outputs in utilities and equipment suppliers appear to have improved. However, a lasting decline in R&D expenditure can have a negative long-term effect on technological progress and innovation in the sector. We conclude that the decline in R&D could have been predicted from the literature. We also discuss the need to reorient the post-liberalisation technology policy. 相似文献
5.
Werner Bnte 《Research Policy》2004,33(10):1635-1655
This paper investigates the effects of interindustry R&D spillovers from publicly financed business R&D on private R&D efforts and productivity using data of West German manufacturing industries. The results suggest that it is important to distinguish between the effects of spillovers from privately and publicly financed business R&D. In particular, estimation results provide evidence of productivity-enhancing effects of spillovers from privately financed R&D while results are less clear-cut for publicly financed R&D. Moreover, there is some empirical evidence that private R&D efforts of higher-technology industries are stimulated by spillovers from privately financed R&D but not by spillovers from publicly financed R&D. However, public funding of R&D in higher-technology industries seems to induce private R&D investments within these industries. 相似文献
6.
This paper investigates the role of government R&D subsidy programs in stimulating knowledge spillovers. R&D subsidies are an effective public policy instrument when knowledge spillovers exist yet ex ante it is difficult to identify projects that have the greatest potential to increase innovation and economic growth. This paper derives a set of project and firm attributes that the literature finds generate knowledge spillovers and uses data on project proposals to estimate the degree to which a government R&D program conforms. We find that projects that were awarded R&D subsidies were more likely to have attributes such as participation in new research joint ventures and connections to universities and other firms. Following the post-award activities of firm, we find that receipt of a government R&D subsidy increased the funding from other sources when compared to firms that were not awarded funding. 相似文献
7.
Chihiro Watanabe 《Research Policy》1992,21(6)
Japan successfully overcame the energy crises of 1973 and 1979, maintaining productivity in the face of drastically increased energy prices, despite the fragile nature of its energy structure. This was due to technological innovation efforts that led to rapid improvement in Japan's industrial technology as a whole.This paper tries to prove this hypothesis on the basis of an examination of the trends in the substitution of production factors by technology as represented by R&D investment efforts.Since the first energy crisis in 1973, there have been a number of attempts to identify the possibility of substitutability of energy by other production factors, but none have been successful in taking technology into account.This paper tackles this subject on the basis of the measurement of the technological knowledge stock and en empirical analysis using a translog cost function incorporating this stock, and shows that over the last two decades all production factors have been substituted by technology in Japan's manufacturing industry or have been moving towards that direction. 相似文献
8.
The new knowledge acquisition and sharing stage represents the start of the organization's overall knowledge creation process. It is especially important for contributing to the critical foundation of organizational knowledge creation. This study explores the relationship between employees’ knowledge acquisition sources and the patterns of knowledge-sharing behaviors. We use structural equation modeling to test a sample of R&D professionals from high-tech companies in Taiwan. Data analysis suggests that most employees prefer to acquire knowledge from, and share knowledge with, their team members. This implies that greater familiarity between team members and strengthened cooperative relationships foster productivity. Furthermore, employees should be encouraged to participate in professional communities in order to acquire new knowledge. Knowledge acquired via these channels will facilitate the sharing of R&D knowledge within the organization. 相似文献
9.
Complementary insights from Transaction Cost Economics (TCE) and the Resource-Based View (RBV) of the firm are combined to predict the relationship between firm specific technological knowledge and patterns of integration within organizational boundaries. The findings show that the level of Research and Development (R&D) intensity (representing the creation of firm specific technological knowledge) has an inverted U-shaped relationship with the propensity of firms to integrate activities within organizational boundaries. At low levels of R&D intensity, firms’ propensity to integrate their activities is low, but increases with escalating levels of R&D intensity in order to avoid the misappropriation of value generated by technological knowledge. However, beyond a certain R&D intensity level, the propensity to integrate activities declines, since the level of technological knowledge is high enough to prevent imitation by third parties. As expected we further find that firms which follow this integration pattern outperform those which do not. As the level of R&D intensity increases, the integration of production and marketing activities enables firms to improve performance until a certain R&D intensity threshold, after which such integration negatively affects performance. 相似文献
10.
This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. A survey focusing on econometric studies in this area reveals a plethora of sometimes confusing and frequently contradictory estimates of the response of company-financed R&D to changes in the level and nature of this category of public expenditures. Yet, a theoretical framework seldom is provided within which the empirical results are to be interpreted. Some such structure is necessary, in view of the multiple channels through which public research can affect private R&D performance, especially as not all the effects flow in the same direction. A major cause of “inconsistencies” in the empirical literature is the failure to recognize key differences among the various policy “experiments” being considered — depending upon the economy in which they are embedded, and the type of public sector R&D spending that is contemplated. Using a simple, stylized structural model, we identify the main channels of impact of public R&D. We thus can characterize the various effects, distinguishing between short- and long-run impacts that would show up in simple regression analyses of nominal public and private R&D expenditure variables. Within the context of our simple model it is possible to offer interpretations that shed light on recent cross-section and panel data findings at both high (i.e., national) and low (specific technology area) levels of aggregation. 相似文献
11.
This study examines the technology strategies of 88 technology-based growth companies that went public on the German “Neuer Markt” between 1997 and 2002. The regression analyses show significant positive effects of R&D on growth but negative effects on profitability. The data suggests that firm age is a moderating factor influencing whether technology investments lead to higher growth or profitability in the life cycle of technology-based growth companies. In our sample, higher R&D intensity led to increased sales growth but lower return on sales, but the growth effect was negative and the impact on profitability positive. These results support the significance of company life cycle theories for formulating technology strategies, which suggests that different stages in the development of technology-based firms call for specific levels of R&D intensity to sustain growth and profitability. 相似文献
12.
The R&D effort, even of the largest, most technologically advanced developing countries, and their most sophisticated firms, cannot match that of the major industrial nations or the largest corporations. Our objective in this paper is to analyse innovation, technical change and R&D management in technology-leaders to build a framework for R&D in technology-followers outside of those major nations. This framework emphasises the importance of specific learning mechanisms and puts forward an argument that in-house R&D is indeed required in technology-followers, but a profoundly different type of R&D. R&D units, based in the firm, can become the location for organised learning, the problem-solver of last resort in production, the in-house knowledge store and gatekeeper, and the focus for independent design and product development capacity. 相似文献
13.
《Research Policy》2023,52(8):104837
Global productivity growth has either stagnated or declined, despite continued technological innovations with the rise of knowledge-intensive intangibles that arise from the growth of knowledge stock (R&D activities). Understanding the root causes of this paradox in the context of growing economies requires an investigation of whether local knowledge diffusion can explain firm-level productivity differences, including key constraining factors like sources of financing or corporate governance structure. Using financial data of 7970 Indian firms over a 20-year period and clustering firms across industries, we assess the impact of R&D stock that is external to the firm through estimating both within (intra) and between (inter) industry spillovers. We find that both R&D and non-R&D-performing firms benefit from ‘between industry’ spillovers. We further show that firms with better access to finance achieve higher productivity, not only through their own R&D capital stock but also via both types of industry-level knowledge spillover. We allow for the two key sources of international spillovers namely import intensity and FDI. While import-intensive firms experience lower productivity, FDI mitigates this adverse productivity effect across knowledge-intensive exporting firms. The paper concludes that financially unconstrained firms and firms with greater corporate board connectedness derive positive industry-level spillover effects, reflecting intra- and inter-industry as domestic spillover or local value-chain effect in the literature on technological innovation. 相似文献
14.
Masami Tanaka 《Research Policy》1989,18(6)
This article examines some of the key features of Japanese evaluation systems utilized in evaluating R&D policies. The distinctive features of the system are that Japan depends upon in-house self-assessment combined with close cooperation and consensus-seeking behavior with the government and its advisory bodies. This system is markedly different from those predominant in countries where R&D policies are evaluated separately, independent from the sphere of decision-making. The system described here is subjective rather than objective in that the direct promoters of R&D plans were directly included in the evaluation activities. The system has evolved gradually in the course of Japanese technological development, and has been influenced also by Japan's particular internal and external environment. The system appears to have worked well in areas where research programs were modified to obtain incremental improvement or to create new types of R&D programs. However, recent constraints caused by budget deficits, together with the shift from applied to more basic research, have required a new type of evaluation system for Japan's R&D policy. 相似文献
15.
This paper investigates the causal effect of foreign acquisitions on the research and development (R&D) activities of domestic target firms over the period 1994–2004. Using accounting data on French innovative manufacturing firms, we implement appropriate difference-in-difference estimation techniques associated with a matching propensity score procedure. We find that the acquisitions of French firms by foreign companies boost R&D spending. There is a simultaneous rise in the external and in-house R&D expenditures of French acquired firms. R&D is more contracted out to local research providers, in particular to local public laboratories and universities. The increase in internal R&D spending benefits to development, but also basic and applied research. Finally, the growth of the R&D budget is not only financed by internal resources but also receives financing from external partners, especially parent companies. Thus, our results call into question the idea that foreign takeovers hamper the R&D development of target firms and are detrimental to the national innovation system of the host country. First, acquisitions appear to bring efficiency gains enough to counterbalance the various costs of integration and market power effects, pushing firms to invest more in R&D. Acquisitions do not seem to incite managers to take shorter term and more financial driven decisions at the expense of R&D. Second, when motivated by technology sourcing and overseas R&D development, acquisitions might be used to access the specific know-how of target firms and to tap into the knowledge of the national innovation system. Then, purchaser firms could be more likely to develop the innovative capability of target firms and to strengthen their linkages with local partners than to reduce them and relocate R&D abroad. 相似文献
16.
技术进步、结构变化与美国能源效率的关系 总被引：3，自引：0，他引：3
定性分析了技术进步、经济结构和能源价格对能源消费和能源效率的影响,在此基础上确立了能源效率的表达模型,提出了R＆D知识存量测度方法,并测算出了美国1957-2004年的R＆D知识存量。选取美国1980-2004年的能源生产率、R＆D知识技术存量、第三产业比重以及石油价格等变量的时间序列作为样本数据,通过回归分析看出美国结构变化对能源效率的影响最为显著,经Granger因果关系检验,发现以上三因素均为能源效率的原因,而且技术进步与能源效率之间存在双向因果关系。 相似文献
17.
The recent increase in R&D offshoring has raised fears that knowledge and competitiveness in advanced countries may be at risk of ‘hollowing out’. At the same time, economic research has stressed that this process is also likely to allow some reverse technology transfer and foster growth at home. This paper addresses this issue by investigating the extent to which R&D offshoring is associated with productivity dynamics of European regions. 相似文献
18.
Wesley M. Cohen Akira Goto Akiya Nagata Richard R. Nelson John P. Walsh 《Research Policy》2002,31(8-9)
National surveys of R&D labs across the manufacturing sectors in the US and Japan show that intraindustry R&D knowledge flows and spillovers are greater in Japan than in the US and the appropriability of rents due to innovation less. Patents in particular are observed to play a more central role in diffusing information across rivals in Japan, and appear to be a key reason for greater intraindustry R&D spillovers there, suggesting that patent policy can importantly affect information flows. Uses of patents differ between the two nations, with strategic uses of patents, particularly for negotiations, being more common in Japan. 相似文献
19.
This paper employs evolutionary, resource-based, and knowledge-based perspectives to provide a framework for understanding technological knowledge sharing within the globally dispersed R&D function of the multinational firm. Elements from the three perspectives are inspected and drawn together. The constructs—knowledge, knowledge transaction, and performance—are articulated. Finally, two fundamental relationships are proposed: (1) kind of technological knowledge shared will impact the type of knowledge transaction undertaken and 2) type of knowledge transaction will impact R&D task performance. 相似文献
20.
Fragkiskos Filippaios Marina Papanastassiou Robert Pearce Ruth Rama 《Research Policy》2009,38(6):1032-1043
This paper explores the strategic internationalisation of Research and Development (R&D) activities of the world's 100 largest food and beverages (F&B) multinationals (MNEs) in 1996 and 2000 with a sample of nearly 8000 affiliates for each period. We develop a global innovation strategy (GIS) structure where we analyse the R&D internationalisation process of F&B MNEs. We argue that in a fully developed GIS model the sourcing of creative inputs does not come exclusively from a ‘central’ R&D laboratory, but other overseas R&D laboratories or technological affiliates can also undertake genuine knowledge creation activity from capitalising on the scientific heterogeneity fostered in individual host countries as well as distinctive demand conditions. Our results indicate the increasing importance of overseas technological affiliates in the application of a GIS in the leading F&B MNEs, which determine the degree of their technological internationalisation. Two variants of technological affiliates reflect two broad knowledge-related activities, i.e. adaptation and genuine forms of knowledge creation. 相似文献