Cost-Reducing and Demand-Creating R&D with Spillovers
Опубликовано на портале: 05-06-2007
RAND Journal of Economics.
1998.
Vol. 19.
No. 4.
P. 538-556.
Тематический раздел:
This article analyzes R&D policies when the returns to cost-reducing and demand-creating
R&D are imperfectly appropriable and market structure is endogenous. We generalize
previous characterizations of appropriability to permit the possibility that own
and rival R&D are imperfect substitutes. We also describe how equilibrium expenditures
on process and product R&D, as well as equilibrium market structure, depend on technological
opportunities and spillovers. In contrast to previous work, diminished appropriability
does not necessarily reduce R&D expenditures. For example, under some conditions,
an increase in the extent of process (product) spillovers will lead to an increase
in product (process) R&D. We estimate several variants of the model by using manufacturing
line-of-business data and data from a survey of R&D executives.
Ключевые слова
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