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| Author: | Jaffe, A. B. |
| Title: | Technological opportunity and spillovers of R&D: Evidence from firms' patents, profits, and market value. (!SPILLOVER EFFECT) |
| Journal: | American Economic Review
1986 : DEC, VOL. 76:5, p. 984-1001 |
| Index terms: | R&D PRODUCTIVITY MEASUREMENT PROFITABILITY |
| Language: | eng |
| Abstract: | The effects in productivity of firms' Research and Development (R and D) of exogenous variations in the state of technology /technological opportunity/ and of the Research and Development of other firms /spillovers of Research and Development/ are quantified. The R and D productivity is increased by the R and D of "technological neighbors",though neighbors' R and D lowers the profits and market value of low-R and D-intensity firms. Firms are shown to adjust the technological composition of their R and D in response to technological opportunity. |
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