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The Market for Technology in the Chemical Industry : Causes and Consequences

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  • Ashish Arora
  • Andréa Fosfuri

Abstract

[fre] L'industrie chimique donne un bon exemple de l'existence et du fonctionnement d'un marché des technologies. Ce papier suggère que, dans l'industrie chimique, les brevets ont joué un rôle clé en facilitant l'achat et la vente de technologies. Cependant, les brevets à eux seuls n'auraient pas été suffisants pour faire émerger un marché des technologies. Nous suggérons que la présence de firmes d'ingénierie spécialisées a contribué à la diffusion des technologies et a forcé les grandes compagnies chimiques à modifier leurs stratégies technologiques. Des constatations empiriques sont faites en utilisant une base de données sur les investissements dans les usines chimiques au cours des années 1980 dans le monde entier. [eng] 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.

Suggested Citation

  • Ashish Arora & Andréa Fosfuri, 2000. "The Market for Technology in the Chemical Industry : Causes and Consequences," Revue d'Économie Industrielle, Programme National Persée, vol. 92(1), pages 317-334.
  • Handle: RePEc:prs:recind:rei_0154-3229_2000_num_92_1_1054
    Note: DOI:10.3406/rei.2000.1054
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    Citations

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    Cited by:

    1. Ashish Arora & Alfonso Gambardella, 2011. "Implications for Energy Innovation from the Chemical Industry," NBER Chapters,in: Accelerating Energy Innovation: Insights from Multiple Sectors, pages 87-111 National Bureau of Economic Research, Inc.
    2. Penin, Julien, 2005. "Patents versus ex post rewards: A new look," Research Policy, Elsevier, vol. 34(5), pages 641-656, June.
    3. Aaron K. Chatterji & Kira R. Fabrizio, 2016. "Does the market for ideas influence the rate and direction of innovative activity? Evidence from the medical device industry," Strategic Management Journal, Wiley Blackwell, vol. 37(3), pages 447-465, March.
    4. 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.
    5. repec:spr:scient:v:112:y:2017:i:3:d:10.1007_s11192-017-2451-6 is not listed on IDEAS
    6. Fosfuri, Andrea, 2002. "Country risk and the international flows of technology: evidence from the chemical industry," DEE - Working Papers. Business Economics. WB wb022514, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    7. 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.
    8. 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.
    9. Nisvan Erkal & Deborah Minehart, 2013. "Optimal Sharing Strategies in Dynamic," Department of Economics - Working Papers Series 1174, The University of Melbourne.
    10. Palomeras, Neus, 2003. "Sleeping patents: any reason to wake up?," IESE Research Papers D/506, IESE Business School.
    11. Arora, Ashish & Fosfuri, Andrea, 2003. "Licensing the market for technology," Journal of Economic Behavior & Organization, Elsevier, vol. 52(2), pages 277-295, October.
    12. Jensen, Paul H. & Palangkaraya, Alfons & Webster, Elizabeth, 2015. "Trust and the market for technology," Research Policy, Elsevier, vol. 44(2), pages 340-356.
    13. 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.
    14. Grimaud, André, 2008. "Weightless Economy, Knowledge Goods and Schumpeterian Growth," IDEI Working Papers 501, Institut d'Économie Industrielle (IDEI), Toulouse.
    15. 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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