Pecuniary knowledge externalities and innovation: intersectoral linkages and their effects beyond technological spillovers
The aim of this paper is to discuss and to provide evidence for the existence of pecuniary knowledge externalities, considered here as the main cause of positive disequilibrium experience by downstream producers. The last effect, confirmed by the empirical analysis performed here, enriches the postulates of the model of growth through creative destruction due to P. Aghion and P. Howitt (1992, A model of growth through creative destruction, Econometrica 60, no. 2: 322-52), where only upstream producers generate innovations and downstream producers remain very much passive in front of the new technological knowledge generated externally.
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Volume (Year): 20 (2011)
Issue (Month): 5 ()
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