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Measuring Knowledge Stocks: A Process of Creative Destruction

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  • Jürgen Bitzer

Abstract

This paper proposes a new method for constructing R&D capital stocks developed to avoid the common assumption of a constant rate of knowledge depreciation, which implies wear and tear of knowledge. The method models the development of R&D capital stocks as a process of creative destruction linking the depreciation of knowledge to the emergence of new knowledge. A first empirical assessment of the new method - measuring the influence of R&D capital stocks on production in the manufacturing sectors of 12 OECD countries - produces plausible and robust results. Copyright 2005 Blackwell Publishing Ltd..

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 58 (2005)
Issue (Month): 3 (07)
Pages: 379-393

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Handle: RePEc:bla:kyklos:v:58:y:2005:i:3:p:379-393

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0023-5962

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Cited by:
  1. Alexandre Almeida & Aurora A.C. Teixeira, 2007. "Does Patenting negatively impact on R&D investment?An international panel data assessment," FEP Working Papers 255, Universidade do Porto, Faculdade de Economia do Porto.
  2. Jürgen Bitzer & Holger Görg, 2005. "The impact of FDI on industry performance," International Trade 0505003, EconWPA.
  3. Jürgen Bitzer & Andreas Stephan, 2002. "A Schumpeter-Inspired Approach to the Construction of R&D Capital Stocks," Discussion Papers of DIW Berlin 300, DIW Berlin, German Institute for Economic Research.
  4. Jurgen Bitzer & Holger Görg & Philipp J.H. Schröder, . "Can Trade Really Hurt? An Empirical Follow-up on Samuelson’s Controversial Paper," Discussion Papers 08/34, University of Nottingham, GEP.
  5. Bitzer, Jürgen & Kerekes, Monika, 2005. "Does Foreign Direct Investment Transfer Technology Across Borders? A Reexamination," Discussion Papers 2005/7, Free University Berlin, School of Business & Economics.
  6. Sabine Visser, 2007. "R&D in Worldscan," CPB Memorandum 189, CPB Netherlands Bureau for Economic Policy Analysis.
  7. Patel, Darshak & Ward, Michael R., 2011. "Using patent citation patterns to infer innovation market competition," Research Policy, Elsevier, vol. 40(6), pages 886-894, July.
  8. Pilar Beneito & María Engracia Rochina-Barrachina & Amparo Sanchis, 2014. "The Path of R&D Efficiency over Time," Working Papers 1403, Department of Applied Economics II, Universidad de Valencia.
  9. Wong, Siang Leng & Chang, Youngho & Chia, Wai-Mun, 2013. "Energy consumption, energy R&D and real GDP in OECD countries with and without oil reserves," Energy Economics, Elsevier, vol. 40(C), pages 51-60.

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