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Cited by 1,758

The DOI matches its Crossref record; 56 of the 56 references it cites were found in a registry or an index.

Identifying Technology Spillovers and Product Market Rivalry

Open access
·2013·Econometrica
DOI 10.3982/ecta9466
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Abstract

The impact of R&D on growth through spillovers has been a major topic of economic research over the last thirty years. A central problem in the literature is that firm performance is affected by two countervailing “spillovers” : a positive effect from technology (knowledge) spillovers and a negative business stealing effects from product market rivals. We develop a general framework incorporating these two types of spillovers and implement this model using measures of a firm's position in technology space and productmarket space. Using panel data on U.S. firms, we show that technology spillovers quantitatively dominate, so that the gross social returns to R&D are at least twice as high as the private returns. We identify the causal effect of R&D spillovers by using changes in federal and state tax incentives for R&D. We also find that smaller firms generate lower social returns to R&D because they operate more in technological niches. Finally, we detail the desirable properties of an ideal spillover measure and how existing approaches, including our new Mahalanobis measure, compare to these criteria.

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Metadata

Venue
Econometrica
Publisher
The Econometric Society
Published
2013
Volume
81
Issue
4
Pages
1347-1393
ISSN
0012-9682 (ISSN-L)
DOI
10.3982/ecta9466
OpenAlex
W2130788273
Cited by
1,758
References
56
FWCI
144.30
Type
journal article
Language
en
Open access
bronze
Licence
doi.wiley.com/10.1002/tdm_license_1.1 (tdm, 973 d)

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.