Scientific and technological innovation related to real economic growth

Innovation , Technological Interdependence , and Economic Growth ̊ Douglas

There is substantial heterogeneity across industries in the level of interdependence between new and old technologies. I propose a measure of this interdependence–an index of sequentiality in innovation–which is the transfer rate of patents in a particular industry. I find that highly sequential industries have higher profitability, higher variance of firm growth, lower exit rates, and lower ra...

Innovation Leadership, Technological Coherence and Economic Performance

The central research question in this paper is: what is the relationship between the economic performance of the firm and (i) strategies of being a technological leader versus a technological follower, and (ii) strategies of established technological coherence versus novelty in technological combination? We present a quantitative investigation that enables us to formulate some empirically groun...

Technological Complexity and Economic Growth

The last fifty years have witnessed large secular increases in educational attainment and R&D intensity. The fact that these trends have not stimulated more rapid income growth has been a persistent puzzle for growth theorists. We construct a model of endogenous economic growth in which income growth, R&D intensity, and educational attainment depend on the complexity of new technologies. An inc...

Innovation and Economic Growth

This paper surveys the empirical evidence on the link between innovation and economic growth. It considers a number of different measures of innovation, such as R&D spending, patenting, and innovation counts, as well as the pervasive effect of technological spillovers between firms, industries, and countries. There are three main conclusions. The first is that innovation makes a significant con...

Economic Benefits from Technological Innovation in Microelectronics