Knowledge Spillovers, Absorptive Capacity and Growth PDF Download
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Author: Ioannis Bournakis
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
Given the decline in growth momentum in the manufacturing sector in many OECD countries, the role of knowledge-based capital has emerged as a key driver for sustained growth. While empirical studies on estimating knowledge spillovers have usually been undertaken at the country level, the spillover effects can be more definitive only if the analysis is conducted at the industry-level. The effectiveness of international spillovers is conditional on recipient country's absorptive capacity and this is an important component of the spillover mechanism that has not attracted significant attention so far. This paper therefore assesses the effect of spillovers in driving per capita output growth taking into account the role of absorptive capacity. Our main findings are first, the confirmation of the robust positive relationship between human capital and output growth for 14 OECD countries at industry level. Second, the gains from international spillover are conditional to the level of human capital and the degree of protection of intellectual property rights. Third, countries that improve absorptive capacity can potentially increase gains from spillovers via either trade or FDI (including vertical FDI). Finally, significant heterogeneity is found between high and low-tech industries. The former group is more effective in absorbing spillovers while the latter has failed to reach the critical level of technological advancement in order to absorb foreign and domestic knowledge.
Author: Ioannis Bournakis
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
Given the decline in growth momentum in the manufacturing sector in many OECD countries, the role of knowledge-based capital has emerged as a key driver for sustained growth. While empirical studies on estimating knowledge spillovers have usually been undertaken at the country level, the spillover effects can be more definitive only if the analysis is conducted at the industry-level. The effectiveness of international spillovers is conditional on recipient country's absorptive capacity and this is an important component of the spillover mechanism that has not attracted significant attention so far. This paper therefore assesses the effect of spillovers in driving per capita output growth taking into account the role of absorptive capacity. Our main findings are first, the confirmation of the robust positive relationship between human capital and output growth for 14 OECD countries at industry level. Second, the gains from international spillover are conditional to the level of human capital and the degree of protection of intellectual property rights. Third, countries that improve absorptive capacity can potentially increase gains from spillovers via either trade or FDI (including vertical FDI). Finally, significant heterogeneity is found between high and low-tech industries. The former group is more effective in absorbing spillovers while the latter has failed to reach the critical level of technological advancement in order to absorb foreign and domestic knowledge.
Author:
Publisher:
ISBN:
Category : Manuscripts, Hebrew
Languages : en
Pages : 16
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Book Description
Author: Rachel Griffith
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 88
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Book Description
Author: Hisamitsu Saito
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Knowledge spillovers are an important source of economic growth. In this study, we identify a mechanism through which knowledge spillovers occur among plants in the Chilean manufacturing industry. A plant-level production function is estimated with the absorptive-capacity hypothesis, that is, employment of skilled workers is a key channel through which knowledge is transmitted across plants. Results show that a plant's productivity from spillovers increases with its skill intensity, which is measured by the share of skilled workers in total employment. We also find that plants in a region with a large knowledge stock increase their skill intensity to benefit more from spillovers. Our results suggest that an increase in regional knowledge stock is the most effective policy to improve a plant's productivity. However, policies that encourage a plant to employ high skill-intensive production also enhance its productivity.
Author: Jayoung Yoon
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper examines the channel through which innovation fosters growth. It focuses on the firm-level ability to utilize existing external knowledge: absorptive capacity (AC). This paper contributes in identifying a proxy for absorptive capacity. I measure AC as a firm's ability to utilize peer R &D, to enhance its own productivity. I find the measures of AC along with the spillovers are related to the utilization of existing external knowledge and the creation of quality inventions in the future, using citation data. The paper shows that firm value, Tobin's q, is positively related to firm's AC. I also examine the effect of knowledge spillovers on R &D intensity and find that it is different for high-tech sectors and non-high-tech sectors. Non-high-tech sectors have the incentive to invest more in R &D to take advantage of the existing knowledge and the firms that are in the high-tech industries strategically utilize their absorptive capacity to substitute their own R &D with existing knowledge.
Author: João J. Ferreira
Publisher: Routledge
ISBN: 1315445263
Category : Business & Economics
Languages : en
Pages : 335
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Book Description
This book is about the role of knowledge spillovers and strategic entrepreneurship in the management context. It focuses on how knowledge spillovers and strategic entrepreneurship are crucial to the process of creative destruction and construction. The book aims to provide insights into and discussion on how firms combine entrepreneurial action that creates new opportunities for industries, regions and economies. This book is first of its kind to link knowledge management perspectives to strategic entrepreneurship to understand the co-creation process. Being interdisciplinary in nature, this book appeals to entrepreneurship and knowledge management scholars, students and practitioners.
Author: Jyrki Ali-Yrkkö
Publisher: International Monetary Fund
ISBN: 1589065298
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
Do workers hired from superstar tech-firms contribute to better firm performance? To address this question, we analyze the effects of tacit knowledge spillovers from Nokia in the context of a quasi-natural experiment in Finland, the closure of Nokia’s mobile device division in 2014 and the massive labor movement it implied. We apply a two-stage difference-in-differences approach with heterogeneous treatment to estimate the causal effects of hiring former Nokia employees. Our results provide new evidence supporting the positive causal role of former Nokia workers on firm performance. The evidence of the positive spillovers on firms is particularly strong in terms of employment and value added.
Author: Daniel Sotelsek Salem
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
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Author: Leopoldo Laborda Castillo
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
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Book Description
This paper examines two sources of global knowledge spillovers: foreign direct investments and trade. Empirical evidence demonstrates that foreign direct investment and trade can contribute to overall domestic productivity growth only when the technology gap between domestic and foreign firms is not too large and when a sufficient absorptive capacity is available in domestic firms. The paper proposes the terms research and development and labor quality to capture the innovative and absorptive capacity of the country. The spillover effects in productivity are analyzed using a stochastic frontier approach. This productivity (in terms of total factor productivity) is decomposed using a generalized Malmquist output oriented index, in order to evaluate the specific effect in technical change, technical efficiency change, and scale efficiency change. Using country-level data for 16 Latin American countries for 1996-2006, the empirical analysis shows positive productivity spillovers from foreign direct investment and trade only when the country has absorptive capacity in terms of research and development. Foreign direct investment and trade spillovers are found to be positive and significant for scale efficiency change and total productivity factor change.
Author: Daron Acemoglu
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between highand low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using US Census micro data on firm-level output, R&D and patenting. The model provides a good fit to the dynamics of firm entry and exit, output and R&D. Taxing the continued operation of incumbents can lead to sizable gains (of the order of 1.4% improvement in welfare) by encouraging exit of less productive firms and freeing up skilled labor to be used for R&D by high-type incumbents. Subsidies to the R&D of incumbents do not achieve this objective because they encourage the survival and expansion of low-type firms.
