Prizes for Basic Research â€“Human Capital, Economic Might and the Shadow of History
AbstractThis paper studies the impact of global factors on patterns of basic research across countries and time. We rely on the records of major scientific awards, and on data dealing with global economic and historical trends. Specifically, we investigate the degree to which scale or threshold effects, and path dependency account for countries share of major prizes [Nobel, Fields, Kyoto and Wolf]. We construct a stylized model, predicting that lagged relative GDP of a country relative to the GDP of all countries engaging in basic research is an important explanatory variable of countryâ€™s share of prizes. Scale effects imply that the association between the GDP share of a country and its prize share tends to be logistic -- above a threshold, there is a â€œtake offâ€ range, where the prize share increases at an accelerating rate with the relative GDP share of the country, until it reaches â€œmaturityâ€ stage. Our empirical analyses confirm the modelâ€™s predictions, showing the non linear effects of GDP shares on prize shares, effects that are consistent with the prominence of scale effects. We validate these findings by examining the massive destructions associated with the two World Wars. With more recent data, we document the growing importance of countries that used to be at the periphery of global research, possibly advancing towards the take off stage.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Center for International Economics, UC Santa Cruz in its series Santa Cruz Center for International Economics, Working Paper Series with number qt6cv239h0.
Date of creation: 01 Mar 2006
Date of revision:
Global economic trends; Basic research; World War I and II; Investment; Human capital;
Other versions of this item:
- Aizenman, Joshua & Noy, Ilan, 2006. "Prizes for Basic Research â€“ Human Capital, Economic Might and the Shadow of History," Santa Cruz Department of Economics, Working Paper Series qt31b6j0wh, Department of Economics, UC Santa Cruz.
- Aizenman, Joshua & Noy, Ilan, 2006. "Prizes for Basic Research â€“Human Capital, Economic Might and the Shadow of History," Santa Cruz Department of Economics, Working Paper Series qt6cv239h0, Department of Economics, UC Santa Cruz.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andrew K. Rose, 2006. "Size Really Doesn't Matter: In Search of a National Scale Effect," NBER Working Papers 12191, National Bureau of Economic Research, Inc.
- David E. Weinstein & Donald R. Davis, 2004.
"Search for Multiple Equilibria in Urban Industrial Structure,"
Econometric Society 2004 North American Winter Meetings
639, Econometric Society.
- Donald R. Davis & David E. Weinstein, 2008. "A Search For Multiple Equilibria In Urban Industrial Structure," Journal of Regional Science, Wiley Blackwell, vol. 48(1), pages 29-65.
- Donald R. Davis & David E. Weinstein, 2004. "A search for multiple equilibria in urban industrial structure," Discussion Papers 0304-12, Columbia University, Department of Economics.
- Donald R. Davis & David E. Weinstein, 2004. "A Search for Multiple Equilibria in Urban Industrial Structure," NBER Working Papers 10252, National Bureau of Economic Research, Inc.
- Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
- Krugman, Paul, 1991. "History versus Expectations," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 651-67, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lisa Schiff).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.