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Science-Based R&D In Schumpeterian Growth

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  • Guido Cozzi
  • Silvia Galli

Abstract

Firm success is often associated with the development of better products. Private firms undertake applied R&D seeking market advantage, by capitalizing on the freely accessible results of basic research. But unpatentable basic research often fails to address applied R&D open problems. What is the role of the incentives in improving the innovative performance of an economy by matching partially motivated public researchers to their mission? Sometimes government funded research projects are mission-directed, yet in many cases the public sector academics indulge in carrier-driven research. An innovation system where, as in the US, also basic research is driven by patents, implicitly sets an ex-post incentive to the researchers guided by invisible hand. For a public innovation system - like the European one - designing an incentive scheme to motivate public researchers is of key importance for fostering the performance of the economic system. This paper extends the Schumpeterian multisector growth model with vertical innovation by highlighting a link between the degree of "targetness" of public research and aggregate innovation. A positive effect of social capital is also proved.

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Bibliographic Info

Article provided by Scottish Economic Society in its journal Scottish Journal of Political Economy.

Volume (Year): 56 (2009)
Issue (Month): s1 (09)
Pages: 474-491

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Handle: RePEc:bla:scotjp:v:56:y:2009:i:s1:p:474-491

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References

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Citations

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Cited by:
  1. Chu, Angus C. & Furukawa, Yuichi, 2011. "Growth and Welfare Effects of Patentability and Knowledge Spillovers of Basic R&D," MPRA Paper 27813, University Library of Munich, Germany.
  2. Antoci, Angelo & Sabatini, Fabio & Sodini, Mauro, 2012. "The Solaria syndrome: Social capital in a growing hyper-technological economy," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 81(3), pages 802-814.
  3. Gurrieri, Antonia Rosa, 2013. "Networking entrepreneurs," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 47(C), pages 193-204.
  4. Guido Cozzi & Silvia Galli, 2014. "Sequential R&D and blocking patents in the dynamics of growth," Journal of Economic Growth, Springer, Springer, vol. 19(2), pages 183-219, June.
  5. Hans Gersbach & Maik T. Schneider & Olivier Schneller, 2010. "Basic Research, Openness, and Convergence," CER-ETH Economics working paper series, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich 10/139, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  6. Hans Gersbach & Gerhard Sorger & Christian Amon, 2009. "Hierarchical Growth: Basic and Applied Research," CER-ETH Economics working paper series, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich 09/118, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  7. Hans Gersbach & Maik T. Schneider, 2013. "On the Global Supply of Basic Research," CER-ETH Economics working paper series, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich 13/175, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.

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