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Absorptive Capacity, R&D; Spillovers and Public Policy.

Abstract:

Empirical evidence strongly suggests that R&D; increases a firm's 'absorptive capacity' (its ability to absorb spillovers from other firms) as well as contributing directly to profitability. We explore the theoretical implications of this. We specify a general model of the absorptive capacity process and show that costly absorption both raises the effectiveness of own R&D; and lowers the effective spillover coefficient. This weakens the case for encouraging research joint ventures, ev...

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Dermot Leahy More by this author
J. Peter Neary More by this author
Volume:
4171
Publication date:
2004
URN:
uuid:aa3148bf-0766-4fa2-b8d2-fe29968bd54f
Local pid:
oai:economics.ouls.ox.ac.uk:11705
Language:
English

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