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| Tekijä: | Michelacci, C. |
| Otsikko: | Low returns in R&D due to the lack of entrepreneurial skills |
| Lehti: | Economic Journal
2003 : JAN, VOL. 113:484, p. 207-225 |
| Asiasana: | R&D Entrepreneurship Management roles Rate of return |
| Kieli: | eng |
| Tiivistelmä: | The paper proposes a model of endogenous growth where innovating requires both researchers, who produce inventions, and entrepreneurs who implement them. When entrepreneurs appropriate too little rents from innovation, too few resources are allocated to entrepreneurship and returns to R&D are low because of this lack of entrepreneurial skills. Thus innovation should be promoted by encouraging entrepreneurship rather than research. |
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