The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Growth through Heterogeneous Innovations
Open accessAbstract
We build a tractable growth model in which multiproduct incumbents invest in internal innovations to improve their existing products, while new entrants and incumbents invest in external innovations to acquire new product lines. External and internal innovations generate heterogeneous innovation qualities, and firm size affects innovation incentives. We analyze how different types of innovation contribute to economic growth and the role of the firm size distribution. Our model aligns with many observed empirical regularities, and we quantify our framework with Census Bureau and patent data for US firms. Internal innovation scales moderately faster with firm size than external innovation.
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Cites
Exploration and Exploitation in Organizational Learning
March, J. G. (1991) · Organization Science · doi:10.1287/orsc.2.1.71 · Cited by 21,942 · cited 1×
“On the other hand, the management literature frequently stresses organizational rigidities that inefficiently inhibit the external innovation efforts of large companies (e.g., Henderson and Clark 1990; March 1991; Henderson 1993; Christensen 1997).”
Endogenous Technological Change
Romer, P. M. (1990) · Journal of Political Economy · doi:10.1086/261725 · Cited by 17,711
“A Model of Growth: Through Creative Destruction”
Aghion, P., & Howitt, P. (1992) · Econometrica · doi:10.2307/2951599 · Cited by 7,529
Venture Capital, Entrepreneurship, and Economic Growth
Samila, S., & Sorenson, O. (2011) · Review of Economics and Statistics · doi:10.1162/rest_a_00066 · Cited by 673
Cited by
Artificial intelligence, firm growth, and product innovation
Babina, T., Fedyk, A., He, A., & Hodson, J. (2024) · Journal of Financial Economics · doi:10.1016/j.jfineco.2023.103745 · Cited by 1,460
Are Ideas Getting Harder to Find?
Bloom, N., Jones, C. I., Van Reenen, J., & Webb, M. (2020) · American Economic Review · doi:10.1257/aer.20180338 · Cited by 1,002
Entrepreneurship as Experimentation
Kerr, W. R., Nanda, R., & Rhodes-Kropf, M. (2014) · Journal of Economic Perspectives · doi:10.1257/jep.28.3.25 · Cited by 704
Self-citationThe End of Economic Growth? Unintended Consequences of a Declining Population
Jones, C. I. (2022) · American Economic Review · doi:10.1257/aer.20201605 · Cited by 196
Financial development and innovation-led growth: Is too much finance better?
Zhu, X., Asimakopoulos, S., & Kim, J. (2020) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2019.102083 · Cited by 173
Metadata
- Authors
- Akcigit, U., & Kerr, W. R.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2018-08
- Volume
- 126
- Issue
- 4
- Pages
- 1374-1443
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W3124220939
- Cited by
- 570
- References
- 4
- FWCI
- 60.94
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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