Pecuniary Knowledge Externalities across European Countries—Are there Leading Sectors?
AbstractThis paper investigates empirically the occurrence of pecuniary knowledge externalities at the sector level across European economies. The main results suggest that, although some sectors can be considered as playing a particularly important role as a source of pecuniary knowledge externalities in the majority of examined countries, there exist significant national differences in the occurrence of these effects. Moreover, such external effects influence the dynamics of total factor productivity in downstream sectors and appear as a relevant source of growth in modern economies. As such, the concept of pecuniary knowledge externalities, as opposed to pure knowledge externalities postulated in the new growth theory, provides a new understanding of the growth process.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Industry and Innovation.
Volume (Year): 18 (2011)
Issue (Month): 4 ()
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Other versions of this item:
- Gehringer, Agnieszka, 2010. "Pecuniary knowledge externalities across European countries: Are there leading sectors?," Center for European, Governance and Economic Development Research Discussion Papers 101, University of Goettingen, Department of Economics.
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