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

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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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Cited by:

  1. Cristiano Antonelli & Pier Paolo Patrucco & Federica Rossi, 2010. "The Economics of Knowledge Interaction and the Changing Role of Universities," Chapters,in: The Handbook of Innovation and Services, chapter 7 Edward Elgar Publishing.
  2. Antonelli, Cristiano & David, Paul, 2015. "The Useful Application of Knowledge: An Introduction," 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 201510, University of Turin.
  3. Agnieszka Gehringer, 2011. "Pecuniary knowledge externalities and innovation: intersectoral linkages and their effects beyond technological spillovers," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 20(5), pages 495-515.
  4. Peng, Ling & Hong, Yongmiao, 2013. "Productivity spillovers among linked sectors," China Economic Review, Elsevier, vol. 25(C), pages 44-61.
  5. 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.
  6. repec:got:cegedp:100 is not listed on IDEAS
  7. repec:brc:brccej:v:2:y:2017:i:4:p:28-33 is not listed on IDEAS
  8. Edward J. Malecki, 2010. "Everywhere? The Geography Of Knowledge," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 493-513.
  9. Cristiano Antonelli, 2011. "The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence," Chapters,in: Handbook on the Economic Complexity of Technological Change, chapter 1 Edward Elgar Publishing.
  10. Cristiano Antonelli & Pier Paolo Patrucco & Francesco Quatraro, 2011. "Productivity Growth and Pecuniary Knowledge Externalities: An Empirical Analysis of Agglomeration Economies in European Regions," Economic Geography, Clark University, vol. 87(1), pages 23-50, January.
  11. repec:wyi:journl:002193 is not listed on IDEAS
  12. Isabel Maria Bodas Freitas & Aldo Geuna & Federica Rossi, 2011. "University–Industry Interactions: The Unresolved Puzzle," Chapters,in: Handbook on the Economic Complexity of Technological Change, chapter 11 Edward Elgar Publishing.

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