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Innovation and growth through local and global interaction

  • R. Andergassen
  • F. Nardini
  • M. Ricottilli

This paper investigates the research and development activity of heterogeneous and rationally bounded firms. The latter conduct this activity through in-house research and by collecting information originating in other firms' spillovers. Thus, research and development activity owes both to independent searching and to interaction diffusing information. We study the conditions under which this idiosyncratic effort yields effects that have either local, system-wise negligible impacts or cumulate to generate significant aggregate ones. In the latter case, global effects feed back upon the incentive to innovate and therefore on the strength of local interaction as well as on autonomous research efforts. It is these dynamic forces that we model. We compare cases in which significant aggregate effects do emerge with cases in which they do not and study their outcome on innovation-directed investment and on long-term growth.

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Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number 637.

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Date of creation: Jun 2008
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Handle: RePEc:bol:bodewp:637
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  1. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
  2. Peter Bak & Kan Chen & Jose Scheinkman & Michael Woodford, 1992. "Aggregate Fluctuations from Independent Sectoral Shocks: Self-Organized Criticality in a Model of Production and Inventory Dynamics," NBER Working Papers 4241, National Bureau of Economic Research, Inc.
  3. Albert Díaz-Guilera & Alex Arenas Moreno & Conrad J. Pérez Vicente & Fernando Vega Redondo, 2000. "Self-Organized Criticality In Evolutionary Systems With Local Interaction," Working Papers. Serie AD 2000-30, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Andergassen, Rainer & Nardini, Franco & Ricottilli, Massimo, 2006. "Innovation waves, self-organized criticality and technological convergence," Journal of Economic Behavior & Organization, Elsevier, vol. 61(4), pages 710-728, December.
  5. Fai, Felicia & von Tunzelmann, Nicholas, 2001. "Industry-specific competencies and converging technological systems: evidence from patents," Structural Change and Economic Dynamics, Elsevier, vol. 12(2), pages 141-170, July.
  6. Mokyr, Joel, 1992. "The Lever of Riches: Technological Creativity and Economic Progress," OUP Catalogue, Oxford University Press, number 9780195074772, March.
  7. Adam B. Jaffe & Manuel Trajtenberg, 2005. "Patents, Citations, and Innovations: A Window on the Knowledge Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 026260065x, June.
  8. David, Paul A, 1990. "The Dynamo and the Computer: An Historical Perspective on the Modern Productivity Paradox," American Economic Review, American Economic Association, vol. 80(2), pages 355-61, May.
  9. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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