Growth Through Inter-sectoral Knowledge Linkages

被引：30
|
作者：
Cai, Jie [1 ]
Li, Nan [2 ]
机构：
[1] Shanghai Univ Finance & Econ, Shanghai, Peoples R China
[2] Int Monetary Fund, Washington, DC 20431 USA
来源：
REVIEW OF ECONOMIC STUDIES | 2019年 / 86卷 / 05期
关键词：
Endogenous growth; R&D; Inter-sectoral knowledge spillovers; Firm innovation; Multiple sectors; Resource allocation; RESEARCH-AND-DEVELOPMENT; FIRM DYNAMICS; MARKET; SPILLOVERS; PRODUCTIVITY; SIZE; PERSPECTIVE; OPPORTUNITY; INNOVATION; ECONOMIES;
D O I：
10.1093/restud/rdy062
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The majority of innovations are developed by multi-sector firms. The knowledge needed to invent new products is more easily adapted from some sectors than from others. We study this network of knowledge linkages between sectors and its impact on firm innovation and aggregate growth. We first document a set of sectoral-level and firm-level observations on knowledge applicability and firms' multi-sector patenting behaviour. We then develop a general equilibrium model of firm innovation in which inter-sectoral knowledge linkages determine the set of sectors a firm chooses to innovate in and how much R&D to invest in each sector. It captures how firms evolve in the technology space, accounts for cross-sector differences in R&D intensity, and describes an aggregate model of technological change. The model matches new observations as demonstrated by simulation. It also yields new insights regarding the mechanism through which sectoral fixed costs of R&D affect growth.
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页码：1827 / 1866
页数：40
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