English, Article, Journal or magazine article edition: Macroeconomic Conditions and Successful Commercialization Elizabeth Webster; Paul H. Jensen

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Bookmark: http://trove.nla.gov.au/version/122259
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Macroeconomic Conditions and Successful Commercialization
Author
  • Elizabeth Webster
  • Paul H. Jensen
Physical Description
  • preprint
Notes
  • The commercialization of inventions is an investment, similar to spending on plant and equipment, and accordingly we would expect it to be affected by macroeconomic conditions. Using data on the commercialization activity from over 4000 inventors, we find evidence that macroeconomic conditions have a pro-cyclical affect on commercialization activities. However, the magnitude of the supply-side effects – the cost of finance and level of public sector research – are estimated to be larger than the growth in aggregate or industry demand.
  • Innovation; Commercialization; Invention; Appropriation
  • RePEc:iae:iaewps:wp2009n09
Language
  • English
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