Innovation and growth through local and global interaction

Andergassen, Rainer ; Nardini, Franco ; Ricottilli, Massimo (2008) Innovation and growth through local and global interaction. Bologna: Dipartimento di Scienze economiche DSE, p. 34. DOI 10.6092/unibo/amsacta/4610. In: Quaderni - Working Paper DSE (637). ISSN 2282-6483.
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Abstract

This paper investigates the research and development activity of heterogeneous and rationally bounded firms. The latter conduct this activity through in-house research and by collecting information originating in other firms’ spillovers. Thus, research and development activity owes both to independent searching and to interaction diffusing information. We study the conditions under which this idiosyncratic effort yields effects that have either local, system-wise negligible impacts or cumulate to generate significant aggregate ones. In the latter case, global effects feed back upon the incentive to innovate and therefore on the strength of local interaction as well as on autonomous research efforts. It is these dynamic forces that we model. We compare cases in which significant aggregate effects do emerge with cases in which they do not and study their outcome on innovation-directed investment and on long-term growth.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Andergassen, Rainer
Nardini, Franco
Ricottilli, Massimo
Keywords
Economic growth; Innovation and diffusion; Innovation waves
Subjects
ISSN
2282-6483
DOI
Deposit date
15 Feb 2016 13:51
Last modified
15 Feb 2016 13:51
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