English, Article, Journal or magazine article edition: The Democratization of U.S. Research and Development after 1980 Robert M. Hunt; Leonard I. Nakamura

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/30180
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Democratization of U.S. Research and Development after 1980
Author
  • Robert M. Hunt
  • Leonard I. Nakamura
Physical Description
  • preprint
Notes
  • Using Compustat data, we document that prior to 1980, large R&​D per-forming firms had higher R&​D intensity (R&​D/​Sales) than small firms in the same industries. Over the course of the next two decades, in these same in-dustries, small firms came to rival and even surpass large firms in terms of R&​D intensity. During this period, corporate R&​D intensity nearly doubled and most of the aggregate increase is due to the substantial increase in R&​D intensity among small firms. Little of the change in composition is explained by changes in the industrial distribution of R&​D. Why did small firms increase their R&​D after 1980 and not before? We argue that, after 1980, small firms were able to compete on better terms in industries already dominated by large firms. We show that the patterns we observe in the data are consistent with a straightforward dynamic model of R&​D with falling barriers to entry. But what barriers fell? We argue the shift in R&​D intensity by small firms was largely due to the electronics revolution. Prior to the 1980s, a large corporate sales and clerical force was an essential factor for the rapid and widespread distribution of new products. This technology clearly favored large, established firms. But the electronics revolution obviated the need for these factors, making entry easier.
  • R&​D, barriers to entry, innovation
  • RePEc:red:sed006:121
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment