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Innovation and growth through local and global interaction

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  • R. Andergassen
  • F. Nardini
  • M. Ricottilli

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.

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 637.

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Date of creation: Jun 2008
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Handle: RePEc:bol:bodewp:637

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  1. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 527, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Rainer Andergassen & Franco Nardini & Massimo Ricottilli, . "Innovation Waves, Self-organised Criticality and Technological Convergence," Modeling, Computing, and Mastering Complexity 2003, Society for Computational Economics 19, Society for Computational Economics.
  3. Arenas, Alex & Diaz-Guilera, Albert & Perez, Conrad J. & Vega-Redondo, Fernando, 2002. "Self-organized criticality in evolutionary systems with local interaction," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 26(12), pages 2115-2142, October.
  4. Bak, Per & Chen, Kan & Scheinkman, Jose & Woodford, Michael, 1993. "Aggregate fluctuations from independent sectoral shocks: self-organized criticality in a model of production and inventory dynamics," Ricerche Economiche, Elsevier, Elsevier, vol. 47(1), pages 3-30, March.
  5. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  6. David, Paul A, 1990. "The Dynamo and the Computer: An Historical Perspective on the Modern Productivity Paradox," American Economic Review, American Economic Association, American Economic Association, vol. 80(2), pages 355-61, May.
  7. Mokyr, Joel, 1992. "The Lever of Riches: Technological Creativity and Economic Progress," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780195074772, October.
  8. Adam B. Jaffe & Manuel Trajtenberg, 2005. "Patents, Citations, and Innovations: A Window on the Knowledge Economy," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 026260065x, December.
  9. Fai, Felicia & von Tunzelmann, Nicholas, 2001. "Industry-specific competencies and converging technological systems: evidence from patents," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 12(2), pages 141-170, July.
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Cited by:
  1. R. Andergassen & F. Nardini & M. Ricottilli, 2013. "Innovation diffusion, technological convergence and economic growth," Working Papers wp912, Dipartimento Scienze Economiche, Universita' di Bologna.

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