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Pecuniary Externalities: the Convergence of Directed Technological Change and the Emergence of Innovation Systems

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  • Antonelli, Cristiano

    ()
    (University of Turin)

Abstract

The new understanding of the characteristics of knowledge indivisibility and knowledge appropriability makes it possible to appreciate the key role pecuniary externalities play both in the generation and in the exploitation of technological knowledge. Pecuniary externalities affect access to external knowledge and its localized appropriation, by the intensive use of idiosyncratic factors and the introduction of biased technological change. Their combined effect shapes the convergence of the directed features of the knowledge generated at the firm level and explains the path dependent emergence of local and technological innovation systems and the dynamics of innovation cascades.

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Bibliographic Info

Paper provided by University of Turin in its series Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP series with number 200807.

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Length: 28 pages
Date of creation: Jul 2008
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Handle: RePEc:uto:labeco:200807

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Cited by:
  1. Gehringer, Agnieszka, 2010. "Pecuniary knowledge externalities and innovation: Intersectoral linkages and their effects beyond technological spillovers," Center for European, Governance and Economic Development Research Discussion Papers 100, University of Goettingen, Department of Economics.
  2. repec:wyi:journl:002193 is not listed on IDEAS
  3. Balasescu, Florin Razvan & Dragoi, Catalin & Barac, Dorina Amalia, 2011. "Environmental Protection Between Specialization And Multidisciplinary Approaches," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 15(3), pages 109-116.
  4. Peng, Ling & Hong, Yongmiao, 2013. "Productivity spillovers among linked sectors," China Economic Review, Elsevier, vol. 25(C), pages 44-61.
  5. Gehringer, Agnieszka, 2010. "Pecuniary knowledge externalities and innovation: Intersectoral linkages and their effects beyond technological spillovers," Center for European, Governance and Economic Development Research Discussion Papers 100, University of Goettingen, Department of Economics.

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