| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w29607
|
| 来源ID | Working Paper 29607
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| Innovation Networks and R&D Allocation |
| Ernest Liu; Song Ma
|
| 发表日期 | 2021-12-27
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| 出版年 | 2021
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| 语种 | 英语
|
| 摘要 | We study the cross-sector allocation of R&D resources in a multisector growth model with an innovation network, where one sector’s past innovations may benefit other sectors’ future innovations. Theoretically, we solve for the optimal path of R&D resource allocation. We show a planner valuing long-term growth should allocate more R&D toward upstream sectors in the innovation network, but the incentive is muted in open economies that rely on foreign knowledge spillovers. We derive sufficient statistics for evaluating the welfare cost of R&D misallocation. Empirically, we build the global innovation network based on patent citations and establish its empirical importance for knowledge spillovers. We evaluate R&D allocative efficiency across countries using model-based sufficient statistics. Japan has the highest allocative efficiency among the advanced economies. For the U.S., reducing R&D misallocation down to Japan’s level could generate more than 28% welfare gains. |
| 主题 | International Economics
; International Macroeconomics
; Development and Growth
; Innovation and R&
; D
|
| URL | https://www.nber.org/papers/w29607
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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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/587279
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推荐引用方式
GB/T 7714 |
Ernest Liu,Song Ma. Innovation Networks and R&D Allocation. 2021.
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文件名：
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w29607.pdf
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格式：
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Adobe PDF
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