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Technological Diffusion and the Financial Environment

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Author Info
Stoneman, Paul () (University of Warwick, Warwick Business School)

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Abstract

This paper considers reasons why financial factors may impact upon the diffusion of new technology and potential means of furthering research upon this topic. The main aim of this paper is to undertake some preliminary discussion of how and why financial factors may impinge upon the diffusion process. Given that there is a close relation between the analysis of diffusion and the analyses of investment and R&D we proceed by first exploring the arguments that have been presented as to why financial factors may play a role in the determination of these. We then discuss the parallels with diffusion. This leads to some conclusions as to how the financial environment within which firms operate may impact upon the diffusion process. In a final section we discuss how this issue may be further researched.

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Publisher Info
Paper provided by United Nations University, Institute for New Technologies in its series EIFC - Technology and Finance Working Papers with number 3.

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Date of creation: 2001
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Handle: RePEc:dgr:unutaf:eifc01-3

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Web page: http://www.intech.unu.edu

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Related research
Keywords: New Technologies; R&D; Diffusion of Innovations; Investment; Finance;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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.:
  1. Himmelberg, Charles P & Petersen, Bruce C, 1994. "R&D and Internal Finance: A Panel Study of Small Firms in High-Tech Industries," The Review of Economics and Statistics, MIT Press, vol. 76(1), pages 38-51, February. [Downloadable!] (restricted)
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  2. R. Glenn Hubbard, 1998. "Capital-Market Imperfections and Investment," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 193-225, March. [Downloadable!] (restricted)
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  3. Stephen Bond & Julie Elston & Jacques Mairesse & Benoit Mulkay, 1997. "Financial Factors and Investment in Belgium, France, Germany and the UK:A Comparison Using Company Panel Data," NBER Working Papers 5900, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc. [Downloadable!]
  5. Stephen Bond, 2000. "Noisy Share Prices and the Q Model of Investment," Econometric Society World Congress 2000 Contributed Papers 1320, Econometric Society. [Downloadable!]
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Full references

Cited by:
(explanations, 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.)

  1. Stoneman, Paul & Canepa, Alessandra, 2002. "Financial Constraints on Innovation: A European Cross Country Study," EIFC - Technology and Finance Working Papers 11, United Nations University, Institute for New Technologies. [Downloadable!]
  2. Bronwyn Hall & Beethika Khan, 2003. "Adoption of New Technology," Department of Economics, Working Paper Series 1055, Department of Economics, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
    Other versions:
  3. Stoneman, Paul, 2001. "Heterogeneity and Change in European Financial Environments," EIFC - Technology and Finance Working Papers 7, United Nations University, Institute for New Technologies. [Downloadable!]
  4. Stoneman, Paul, 2001. "Financial Factors and the Inter Firm Diffusion of New Technology: A Real Options Model," EIFC - Technology and Finance Working Papers 8, United Nations University, Institute for New Technologies. [Downloadable!]
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