Why are some regions more innovative than others ? The role of firm size diversity ∗
نویسندگان
چکیده
Large labs may spawn spin-outs caused by innovations deemed unrelated to the firm’s overall business. Small labs generate demand for specialized services that lower entry costs for others. We develop a theoretical framework to study the interplay of these two localized externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find that innovation output is higher where large and small labs coexist. The finding is robust to across-region as well as within-region analysis, IV analysis, and the effect is stronger in certain subsamples consistent with our explanation but not the plausible alternatives. JEL Classifications: 047, 018, L16.
منابع مشابه
Firm Size Diversity and Regional Innovation ∗
Why are some regions more innovative than others? We examine within– and across–region variation in the coexistence of large and small labs. Large labs may spawn spin-outs caused by innovations deemed unrelated to the firm’s overall business. Small labs generate demand for specialized services that lower entry costs for others. We develop a theoretical framework to study the interplay of these ...
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