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Penetrating the ``knowledge filter'' in regional economies

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  • Zoltan Acs
  • Lawrence Plummer

Abstract

New knowledge in the form of products, processes and organizations leads to opportunities that can be exploited commercially. However, converting new ideas into economic growth requires turning new knowledge into economic knowledge that constitutes a commercial opportunity. A model introduces a ``knowledge filter'' between new knowledge and economic knowledge and identifies both new ventures and incumbent firms as the mechanism that reduces the knowledge filter and increases regional growth. This paper tests the hypotheses that new venture creation is a better mechanism than the absorptive capacity of incumbent firms for converting new knowledge into economic knowledge. Our results support the contention that new venture creation is a superior method of penetrating the regional ``knowledge filter'' than incumbent firms. Copyright Springer-Verlag 2005

Suggested Citation

  • Zoltan Acs & Lawrence Plummer, 2005. "Penetrating the ``knowledge filter'' in regional economies," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 39(3), pages 439-456, September.
    • Handle: RePEc:spr:anresc:v:39:y:2005:i:3:p:439-456
    DOI: 10.1007/s00168-005-0245-x
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    More about this item

    Keywords

    M13; O10; O18; O30; L10;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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