| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Leadership Cycles |
| Vincenzo Denicolò; Piercarlo Zanchettin
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| 发表日期 | 2010
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| 出处 | Economy and Society
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| 出版年 | 2010
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| 语种 | 英语
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| 摘要 | We study a quality-ladder model of endogenous growth that produces stochastic leadership cycles. Over a cycle, industry leaders can innovate several successive times in the same industry, gradually increasing the magnitude of their technological lead before being replaced by a new entrant. Initially, new leaders are eager to enlarge their lead and do much of the research, but if they innovate repeatedly, their propensity to invest in R&D decreases. Eventually they stop doing research altogether, and as they are overtaken a new cycle starts. The model generates a skewed firm size distribution and a deviation from Gibrat’s law that accord with the empirical evidence. We also consider various policy measures, showing that in some cases policy should favour R&D by incumbents, not outsiders, and that stronger patent protection may reduce innovation and growth. |
| 特色分类 | O32;O4
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| 关键词 | Technological Lead
Innovation
R&D
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/leadership-cycles/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117816
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推荐引用方式
GB/T 7714 |
Vincenzo Denicolò,Piercarlo Zanchettin. Leadership Cycles. 2010.
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20103301417334NDL2010-035.pdf
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