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The market for technology in the chemical industry: causes and consequences

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Author Info

  • Arora, Ashish
  • Fosfuri, Andrea

Abstract

The chemical industry provides a good example of the existence and functioning of a market for technology. This paper suggests that, in chemicals, patents have played a key role in facilitating the purchase and sale of technology. However, patents alone would not be sufficient for the rise of a market for technology. We suggest that the presence of specialized engineering firms has contributed to make chemical technology more widespread and has forced the large chemical corporations to modify their technology strategies. Empirical evidence is provided using a large database on worldwide investments in chemical plants during the 1980s.

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File URL: http://e-archivo.uc3m.es/bitstream/10016/13809/1/market_fosfuri_REI_2000.pdf
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Bibliographic Info

Paper provided by Universidad Carlos III de Madrid in its series Open Access publications from Universidad Carlos III de Madrid with number info:hdl:10016/13809.

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Length: 336 p.
Date of creation: 2000
Date of revision:
Publication status: Published in Revue d'economie industrielle (2000) v., p.317-334,
Handle: RePEc:ner:carlos:info:hdl:10016/13809

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Web page: http://www.uc3m.es

Related research

Keywords: Chemical industry; Licensing; Market for technology;

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References

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  1. Arora, Ashish & Fosfuri, Andrea, 2003. "Licensing the market for technology," Journal of Economic Behavior & Organization, Elsevier, vol. 52(2), pages 277-295, October.
  2. Harold M. Groves, Chairman, Universities-National Bureau Committee for Economic Research, 1962. "The Rate and Direction of Inventive Activity: Economic and Social Factors," NBER Books, National Bureau of Economic Research, Inc, number univ62-1, October.
  3. Arora, Ashish & Gambardella, Alfonso, 1994. "The changing technology of technological change: general and abstract knowledge and the division of innovative labour," Research Policy, Elsevier, vol. 23(5), pages 523-532, September.
  4. Suzanne Scotchmer, 1991. "Standing on the Shoulders of Giants: Cumulative Research and the Patent Law," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 29-41, Winter.
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Citations

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Cited by:
  1. Andrea Fosfuri, 2002. "Country Risk And The International Flows Of Technology: Evidence From The Chemical Industry," Business Economics Working Papers wb022514, Universidad Carlos III, Departamento de Economía de la Empresa.
  2. Fabrizio Cesaroni, 2001. "Technology Strategies in the Knowldge Economy. The Licensing Activity of Himont," LEM Papers Series 2001/18, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  3. Paul H. Jensen & Alfons Palangkaraya & Elizabeth Webster, 2013. "Trust, Incomplete Contracts and the Market for Technology," Melbourne Institute Working Paper Series wp2013n03, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  4. Palomeras, Neus, 2003. "Sleeping patents: any reason to wake up?," IESE Research Papers D/506, IESE Business School.
  5. Arora, Ashish & Fosfuri, Andrea, 2003. "Licensing the market for technology," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/13388, Universidad Carlos III de Madrid.
  6. Étienne Chantrel & Andre Grimaud & Frederic Tournemaine, 2012. "Pricing Knowledge and Funding Research of New Technology Sectors in a Growth Model," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 14(3), pages 493-520, 06.
  7. Ashish Arora & Alfonso Gambardella, 2010. "Implications for Energy Innovation from the chemical industry," NBER Working Papers 15676, National Bureau of Economic Research, Inc.
  8. Julien Pénin, 2003. "Patents versus ex-post rewards: a new look," Working Papers of BETA 2003-09, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  9. Pénin, Julien & Wack, Jean-Pierre, 2008. "Research tool patents and free-libre biotechnology: A suggested unified framework," Research Policy, Elsevier, vol. 37(10), pages 1909-1921, December.
  10. Motohashi, Kazuyuki, 2008. "Licensing or not licensing? An empirical analysis of the strategic use of patents by Japanese firms," Research Policy, Elsevier, vol. 37(9), pages 1548-1555, October.
  11. Grimaud, André, 2008. "Weightless Economy, Knowledge Goods and Schumpeterian Growth," IDEI Working Papers 501, Institut d'Économie Industrielle (IDEI), Toulouse.
  12. Patrick Cohendet & Matthieu Farcot & Julien Pénin, 2009. "Intellectual property in a knowledge-based economy : Patents to include vs. patents to exclude," Working Papers of BETA 2009-15, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.

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