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| Author: | Griffith, R. Redding, S. Reenen, J. Van |
| Title: | R&D and absorptive capacity: theory and empirical evidence |
| Journal: | Scandinavian Journal of Economics
2003 : VOL. 105:1, p. 99-118 |
| Index terms: | Growth R&D Total factor productivity |
| Freeterms: | Absorptive capacity |
| Language: | eng |
| Abstract: | This paper presents a single unified framework that integrates the theoretical literature on Schumpeterian endogenous growth and major standards of the empirical literature on R&D, productivity growth and productivity convergence. Starting from a structural model of endogenous growth following Aghion and Howitt (1992, 1998), the authors provide microeconomic foundations for the reduced-form equations for total factor productivity (TFP) growth frequently estimated empirically using industry-level data. R&D affects both innovation and the assimilation of others' discoveries ("absorptive capacity"). |
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