English, Article, Journal or magazine article edition: On R&D and the undersupply of emerging versus mature technologies Tom-Reiel Heggedal

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Bookmark: http://trove.nla.gov.au/version/41320
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • On R&​D and the undersupply of emerging versus mature technologies
Author
  • Tom-Reiel Heggedal
Physical Description
  • preprint
Notes
  • An important policy question is whether research and development (R&​D) in new, emerging technologies should be more subsidized than R&​D in other more mature technologies. In this paper I analyze if innovation externalities caused by knowledge spillovers from private firms may warrant a differentiated R&​D policy. I find that R&​D in emerging and mature technologies should not be subsidized equally. The reason is that R&​D in the two technologies is not equally undersupplied in the market due to differences in their knowledge stocks. R&​D in the mature technology should be subsidized more when the sum of the output elasticities with respect to labor and knowledge in R&​D production is high, while R&​D in the emerging technology should be subsidized more when the elasticities are low.
  • Endogenous growth; Innovation policy; Technological spillovers; Sector-specific R&​D.
  • RePEc:ssb:dispap:571
Language
  • English
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