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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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  • Antonelli, Cristiano, 2008. "Pecuniary Externalities: the Convergence of Directed Technological Change and the Emergence of Innovation Systems," 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 200807, University of Turin.
    • Handle: RePEc:uto:labeco:200807
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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: Faïz Gallouj & Faridah Djellal (ed.), The Handbook of Innovation and Services, chapter 7, Edward Elgar Publishing.
    2. Antonelli, Cristiano & Gehringer, Agnieszka, 2015. "Knowledge externalities and demand pull: The European evidence," Economic Systems, Elsevier, vol. 39(4), pages 608-631.
    3. 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.
    4. 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.
    5. Antonelli Cristiano & Gehringer Agnieszka, 2013. "Demand pull and technological flows within innovation systems: the intra-European evidence," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201303, University of Turin.
    6. Martin Henning & Maureen McKelvey, 2020. "Knowledge, entrepreneurship and regional transformation: contributing to the Schumpeterian and evolutionary perspective on the relationships between them," Small Business Economics, Springer, vol. 54(2), pages 495-501, February.
    7. Cristiano Antonelli & Christophe Feder, 2022. "Knowledge properties and the creative response in the global economy: European evidence for the years 1990–2016," The Journal of Technology Transfer, Springer, vol. 47(2), pages 459-475, April.
    8. 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.
    9. Agnieszka Gehringer, 2011. "Pecuniary Knowledge Externalities across European Countries—Are there Leading Sectors?," Industry and Innovation, Taylor & Francis Journals, vol. 18(4), pages 415-436.
    10. Antonelli, Cristiano & Colombelli, Alessandra, 2015. "The knowledge cost function," International Journal of Production Economics, Elsevier, vol. 168(C), pages 290-302.
    11. Edward J. Malecki, 2010. "Everywhere? The Geography Of Knowledge," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 493-513, February.
    12. 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.
    13. Jorge Niosi & Maureen McKelvey, 2018. "Relating business model innovations and innovation cascades: the case of biotechnology," Journal of Evolutionary Economics, Springer, vol. 28(5), pages 1081-1109, December.
    14. Christophe CARRINCAZEAUX (E3I-IFReDE-GRES) & Frédéric GASCHET (IERSO-IFReDE-GRES), 2006. "Knowledge and the diversity of innovation systems: a comparative analysis of European regions," Cahiers du GRES (2002-2009) 2006-29, Groupement de Recherches Economiques et Sociales.
    15. Paola Cardamone, 2017. "A Spatial Analysis of the R&D-Productivity Nexus at Firm Level," Growth and Change, Wiley Blackwell, vol. 48(3), pages 313-335, September.
    16. Peng, Ling & Hong, Yongmiao, 2013. "Productivity spillovers among linked sectors," China Economic Review, Elsevier, vol. 25(C), pages 44-61.
    17. Leonhard Dobusch & Elke Schüßler, 2013. "Theorizing path dependence: a review of positive feedback mechanisms in technology markets, regional clusters, and organizations," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(3), pages 617-647, June.
    18. Yoguel, Gabriel & Pereira, Mariano, 2014. "Industrial and technological policy: Contributions from evolutionary perspectives to policy design in developing countries," MPRA Paper 56290, University Library of Munich, Germany.
    19. repec:got:cegedp:100 is not listed on IDEAS
    20. Gabriela PICIU, 2017. "Environmental Sustainability - Internalization Of Environmental Externalities," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 2(4), pages 28-33.
    21. Cristiano Antonelli, 2011. "The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 1, Edward Elgar Publishing.
    22. Gehringer, Agnieszka, 2016. "Knowledge externalities and sectoral interdependences: Evidence from an open economy perspective," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 240-249.
    23. Aiqi Wu & Cassandra C. Wang & Shengxiao Li, 2015. "Geographical knowledge search, internal R&D intensity and product innovation of clustering firms in Zhejiang, China," Papers in Regional Science, Wiley Blackwell, vol. 94(3), pages 553-572, August.
    24. repec:wyi:journl:002193 is not listed on IDEAS
    25. Isabel Maria Bodas Freitas & Aldo Geuna & Federica Rossi, 2011. "University–Industry Interactions: The Unresolved Puzzle," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 11, Edward Elgar Publishing.

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