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Author: Saul Lach
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We present a model of industry evolution where the dynamics are driven by a process of endogenous innovations followed by subsequent embodiments in physical capital. Our model stresses the causal relationship between past Ramp;D expenditures and current investments in machinery and equipment. This causality pattern, supported by U.S. manufacturing data, also explains the observed higher volatility of physical investment relative to Ramp;D expenditures.
Author: Saul Lach
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We present a model of industry evolution where the dynamics are driven by a process of endogenous innovations followed by subsequent embodiments in physical capital. Our model stresses the causal relationship between past Ramp;D expenditures and current investments in machinery and equipment. This causality pattern, supported by U.S. manufacturing data, also explains the observed higher volatility of physical investment relative to Ramp;D expenditures.
Author: Saul Lach
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Book Description
Author: Jati Sengupta
Publisher: Springer Science & Business Media
ISBN: 1461438527
Category : Business & Economics
Languages : en
Pages : 182
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Book Description
Economic growth of a country depends on its industries. The focus of modern growth theory is basically macroeconomics, although neoclassical models use competitive markets and the optimization behavior of households and firms in general equilibrium framework. The emphasis here is on industry growth, where the microfoundations of industry are analyzed in terms of economic efficiency. The various linkages which link firm growth with the industry growth are discerned here under various market structures both competitive and monopolistic. The role of information in facilitating market signals and allowing the adoption of new processes has been especially emphasized in this volume. Many issues of market failure and the suboptimality of competitive equilibria are due to incomplete and imperfect information structures and we need a comprehensive theory of information structures underlying the process of industry growth and its dynamics. This book will be of interest to economists studying economic and industry growth and innovation.
Author: Bee-Yan Aw
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 49
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Book Description
A positive correlation between productivity and export market participation has been well documented in producer micro data. Recent empirical studies and theoretical analyses have emphasized that this may reflect the producer's other investment activities, particularly investments in R & D or new technology, that both raise productivity and increase the payoff to exporting. In this paper we develop a dynamic structural model of a producer's decision to invest in R & D and participate in the export market. The investment decisions depend on the expected future profitability and the fixed and sunk costs incurred with each activity. We estimate the model using plant-level data from the Taiwanese electronics industry and find a complex set of interactions between R & D, exporting, and productivity. The self- selection of high productivity plants is the dominant channel driving participation in the export market and R & D investment. Both R & D and exporting have a positive direct effect on the plant's future productivity which reinforces the selection effect. When modeled as discrete decisions, the productivity effect of R & D is larger, but, because of its higher cost, is undertaken by fewer plants than exporting. The impact of each activity on the net returns to the other are quantitatively unimportant. In model simulations, the endogenous choice of R & D and exporting generates average productivity that is 22.0 percent higher after 10 years than an environment where productivity evolution is not affected by plant investments.
Author: J. K. Sengupta
Publisher: Springer
ISBN: 0230248667
Category : Business & Economics
Languages : en
Pages : 174
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Book Description
The dynamics of industry growth, technology and globalization have a dramatic impact on the current economic growth of nations, significantly changing the market structure and world trade, and challenging the competitive equilibrium and their guiding principles. In the world of innovations and spill-over of R&D effects, various forms of non-competitive market structures have evolved in recent times. This book analyzes the new paradigm of change in technology intensive industries, with an emphasis in three main areas; non-parametric models of growth, sources of industry growth and non-competitive market structures in a dynamic framework. The authors to this volume utilise theoretical and empirical analysis to examine the role of R&D investment and Solow-type technical progress, using the non-parametric methods of efficiency analysis, also known as Data Envelopment Analysis. This book is essential reading for all interested in economic theory and innovation.
Author: J. K. Sengupta
Publisher: Springer
ISBN: 0230211011
Category : Business & Economics
Languages : en
Pages : 161
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Book Description
This book discusses both competitive and game theory models of industry growth through new technology, innovations and new entry, and provides a comprehensive treatment of various dynamic models of entry, applications of efficiency and entry models in computers and the pharmaceuticals industry, and applied models of Differential Games.
Author: Christos Koulovatianos
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We study how alternative market structures influence market supply and R&D investment decisions of firms operating in dynamic imperfectly competitive environments. Firms can reduce their future production cost through R&D investment today, which is the engine of endogenous industry growth. Our framework enables us to identify key strategic ingredients in firms' dynamic competitive behavior through analytical characterizations. These ingredients are a static market externality, stemming from the standard oligopolistic Cournot competition, a dynamic externality that arises due to knowledge spillovers, and a dynamic market externality that comes from the interaction of knowledge spillovers with future market oligopolistic competition that firms internalize while making decisions. We isolate the impact of each strategic ingredient by comparing four alternative market structures.
Author: J. K. Sengupta
Publisher: Springer
ISBN: 0230505317
Category : Business & Economics
Languages : en
Pages : 185
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Book Description
Jati K. Sengupta examines the market dynamics of the evolution of industry and the impact of new technology with R&D and knowledge capital. The book builds the theory of innovations in the contexts of the high-tech industries of today such as computing and telecommunications.
Author: Florin G. Maican
Publisher:
ISBN:
Category : Exports
Languages : en
Pages : 45
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Book Description
This article estimates a dynamic structural model of firm R&D investment in twelve Swedish manufacturing industries and uses it to measure rates of return to R&D and to simulate the impact of trade restrictions on the investment incentives. R&D spending is found to have a larger impact on firm productivity in the export market than in the domestic market. Export market profits are a substantial source of the expected return to R&D. Counterfactual simulations show that trade restrictions lower both the expected return to R&D and R&D investment level, thus reducing an important source of the dynamic gains from trade. A 20 percent tariff on Swedish exports reduces the expected benefits of R&D by an average of 32.2 percent and lowers the amount of R&D spending by 13.9 percent in the high-tech industries. The corresponding reductions in the low-tech industries are 30.4 and 8.9 percent, respectively. R&D adjustments in response to export tariffs mainly occur on the intensive, rather than the extensive, margin.
Author: Hall Steven
Publisher: LAP Lambert Academic Publishing
ISBN: 9783838336893
Category :
Languages : en
Pages : 156
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Book Description
This paper develops and estimates a structural model of R&D investment and productivity evolution of manufacturing plants in the Korean electric motor industry from 1991 to 1996. Plant-level decisions for R&D investment, physical capital investment, entry, and exit are developed using a dynamic industry evolution model. Estimates of the structural parameters are used to quantify how a plant s productivity is affected by its own R&D and by spillovers from the R&D of its competitors. In contrast to previous R&D studies, which usually investigate a collection of producers from various industries, this paper characterizes how the full set of dynamic decisions by each plant in a single industry interact with its own and its competitor s productivity change. This allows the model to provide a detailed set of pathways connecting the plant-level R&D investment, productivity, physical investment, and turnover patterns observed in the data.
