全球智库信息集成服务系统(G2TT): R&D, Investment and Industry Dynamics

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w4060
来源ID	Working Paper 4060
	R&D, Investment and Industry Dynamics
	Saul Lach; Rafael Rob
发表日期	1992-04-01
出版年	1992
语种	英语
摘要	We present a model of industry evolution where the dynamics are driven by a process of endogenous innovations, followed by subsequent embodiments in physical capital. Traditionally, the only distinction between R&D and physical investment was one of labeling: the first process accumulates an intangible stock (knowledge) while the second accumulates physical capital; both stocks affect output in a symmetric fashion. We argue that the story is not that simple, and there is more to it than differences in the object of accumulation. Our model stresses the causal relationship between past R&D expenditures and current investments in machinery and equipment. This causality pattern, which is supported by the data, also explains the observed higher volatility of physical investment (relative to R&D expenditures).
主题	Development and Growth ; Innovation and R& ; D
URL	https://www.nber.org/papers/w4060
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/561403
推荐引用方式 GB/T 7714	Saul Lach,Rafael Rob. R&D, Investment and Industry Dynamics. 1992.