nach oben

Erschienen in:

2019 | OriginalPaper | Buchkapitel

2. The Economics of Knowledge

verfasst von : Cristiano Antonelli

Erschienen in: The Knowledge Growth Regime

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This chapter summarizes the main achievements of the economics of knowledge with special attention to the central role of the limited exhaustibility of knowledge and its implications in terms of cumulability and extensibility. It recalls the early economics of knowledge. It explores the generation and exploitation of knowledge with the technology production function and the knowledge generation function. It elaborates the knowledge appropriability trade-off, analyzes the problems of the provision of funds to innovation, and highlights the relationships between knowledge externalities and total factor productivity stressing the new trends toward the capitalization of knowledge as a financial asset.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 390 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Maschinenbau + Werkstoffe

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Introduction: The Economics of Knowledge for the Knowledge Economy

Nächstes Kapitel The New Knowledge Intensive Direction of Technological Change

The rates of tax depreciation provide a reliable clue about the actual obsolescence of tangible capital goods. Although they exhibit a relevant variance, the heights of 30–40% for petrochemical and digital capital goods, to 25% for machinery, they confirm that the average duration of the economic life of tangible capital goods rarely exceeds 4 years.

The empirical evidence of Antonelli and Colombelli (2015) confirms the hypothesis that the knowledge generation function exhibits the typical traits of an o-ring technology.

Current attempts to take into account the role of intellectual capital do not seem to take into account the foundations of growth accounting (Ståhle et al. 2015).

Aghion, P., & Jaravel, X. (2015). Knowledge spillovers innovation and growth. Economic Journal, 125, 533–545. CrossRef

Antonelli, C. (2000). Collective knowledge communication and innovation: The evidence of technological districts. Regional Studies, 34, 535–547.CrossRef

Antonelli, C. (2013). Compulsory licensing: The foundations of an institutional innovation. WIPO Journal, 4, 157–174.

Antonelli, C. (2015). The dynamics of knowledge governance. In C. Antonelli & A. Link (Eds.), Handbook on the economics of knowledge (pp. 232–262). London: Routledge.

Antonelli, C. (2017). Endogenous innovation: The economics of an emergent system property. Cheltenham: Edward Elgar.CrossRef

Antonelli, C. (2018). The evolutionary complexity of endogenous innovation: The engines of the creative response. Cheltenham: Edward Elgar.

Antonelli, C., & Colombelli, A. (2011a). The generation and exploitation of technological change: Market value and total factor productivity. Journal of Technology Transfer, 36, 353–382.CrossRef

Antonelli, C., & Colombelli, A. (2011b). Globalization and directed technological change at the firm level: The European evidence. In G. Libecap (Ed.), Advances in the study of entrepreneurship, innovation and economic growth (Vol. 22, pp. 1–20). Cambridge: Emerald Publishing.

Antonelli, C., & Colombelli, A. (2015). External and internal knowledge in the knowledge generation function. Industry and Innovation, 22, 273–298.CrossRef

Antonelli, C., & David, P. A. (Eds.). (2015). The economics of knowledge and the knowledge driven economy. London: Routledge.

Antonelli, C., & Link, A. (Eds.). (2015). Handbook of the economics of knowledge. London: Routledge.

Antonelli, C., & Teubal, M. (2008). Knowledge intensive property rights and the evolution of venture capitalism. Journal of Institutional Economics, 4, 163–182.CrossRef

Antonelli, C., & Teubal, M. (2010). Venture capital as a mechanism for knowledge governance. In R. Viale & H. Etzkowitz (Eds.), The capitalization of knowledge (pp. 98–120). Cheltenham: Edward Elgar.

Antonelli, C., Crespi, F., & Scellato, G. (2015). Productivity growth persistence: Firm strategies, size and system properties. Small Business Economics, 45, 129–147.CrossRef

Antonelli, C., Crespi, F., Mongeau Ospina, C., & Scellato, G. (2017). Knowledge composition Jacobs externalities and innovation performance in European regions. Regional Studies, 51(11), 1708–1720.CrossRef

Arrow, K. J. (1962). Economic welfare and the allocation of resources for invention. In R. R. Nelson (Ed.), The rate and direction of inventive activity: Economic and social factors (pp. 609–625). Princeton: Princeton University Press for NBER.

Arrow, K. J. (1969). Classificatory notes on the production and transmission of technical knowledge. American Economic Review, 59, 29–35.

Arrow, K. J., & Lind, R. C. (1970). Uncertainty and the evaluation of public investment decisions. American Economic Review, 60, 364–378.

Arthur, B. W. (2007). The structure of invention. Research Policy, 36(2), 274–287.CrossRef

Arthur, W. B. (2009). The nature of technology: What it is and how it evolves. New York: Free Press.

Audretsch, D. B., & Link, A. N. (2018). Innovation capital. Journal of Technology Transfer, 43(6), 1760–1767.CrossRef

Bresnahan, T. F., & Trajtenberg, M. (1995). General purpose technologies: Engines of growth. Journal of Econometrics, 65(1), 83–108.CrossRef

Byrne, D. M., Fernald, J. C., & Reinsdorf, M. B. (2016). Does the United States have a productivity slowdown or a measurement problem? Brookings Papers on Economic Activity, 1, 109–182.

Cefis, E., & Orsenigo, L. (2001). The persistence of innovative activities: A cross-countries and cross-sectors comparative analysis. Research Policy, 30, 1139–1158.CrossRef

Chandler, A. D., Jr. (1962). Strategy and structure: Chapters in the history of the American industrial enterprise. Cambridge: MIT Press.

Chandler, A. D., Jr. (1977). The visible hand: The managerial revolution in American business. Cambridge: The Belknap Press of Harvard University Press.

Coad, A., & Rao, R. (2006). Innovation and market value: A quantile regression analysis. Economics Bulletin, 15, 1–10.

Cockburn, I., & Griliches, Z. (1988). Industry effects and appropriability measures in the stock market’s valuation of R&D and patents. American Economic Review Papers and Proceedings, 78, 419–423.

Cohen, W. M., & Levinthal, D. A. (1989). Innovation and learning: Two faces of R&D. Economic Journal, 99, 569–596.CrossRef

Cohen, W. M., & Levinthal, D. A. (1990). Absorptive capacity: A new perspective on learning and innovation. Administrative Science Quarterly, 35, 128–152.CrossRef

Cornes, R., & Sandler, T. (1986). The theory of externalities public goods and club goods. Cambridge: Cambridge University Press.

Corrado, C., Hulten, C., & Sichel, D. (2005). Measuring capital and technology: An expanded framework. In C. Corrado, J. Haltiwanger, & D. Sichel (Eds.), Measuring capital in the new economy (pp. 11–46). Chicago, IL: University of Chicago Press.CrossRef

Corrado, C., Hulten, C., & Sichel, D. (2009). Intangible capital and U.S. economic growth. Review of Income and Wealth, 55(3), 661–685.

Crépon, B., Duguet, E., & Mairesse, J. (1998). Research and development, innovation and productivity: An econometric analysis at the firm level. Economics of Innovation and New Technology, 7, 115–158.CrossRef

David, P. (1993). Knowledge, property and the system dynamics of technological change. In L. S. Summers & S. Shah (Eds.), Proceedings of the World Bank annual conference on development economics (Published as a supplement to the World Bank Economic Review), pp. 215–248. Washington, DC: International Bank for Reconstruction and Development.

Dosi, G. (1988). Sources procedures, and microeconomic effects of innovation. Journal of Economic Literature, 26, 1120–1171.

Fleming, L. (2001). Recombinant uncertainty in technological search. Management Science, 47(1), 117–142.CrossRef

Fleming, L., & Sorenson, O. (2001). Technology as a complex adaptive system: Evidence from patent data. Research Policy, 30, 1019–1039.CrossRef

Griliches, Z. (1979). Issues in assessing the contribution of research and development to productivity growth. Bell Journal of Economics, 10(1), 92–116.CrossRef

Griliches, Z. (1981). Market value, R&D and patents. Economics Letters, 7, 183–187.CrossRef

Griliches, Z. (Ed.). (1984). R&D patents and productivity. Chicago: University of Chicago Press for NBER.

Griliches, Z. (1986). Productivity R&D and basic research at the firm level in the 1970s. American Economic Review, 77(1), 141–154.

Griliches, Z. (1992). The search for R&D spillovers. Scandinavian Journal of Economics, 94(Supplement), 29–47.CrossRef

Griliches, Z. (1995). R&D and productivity: Econometric results and measurement issues. In P. Stoneman (Ed.), Handbook of the economics of innovation and new technology (pp. 52–89). Oxford: Blackwell.

Griliches, Z. (Ed.). (1998). R&D and productivity: The econometric evidence. Chicago: University of Chicago Press.

Hall, B. H., Mairesse, J., & Mohnen, P. (2010). Measuring the returns to R&D. In B. H. Hall & N. Rosenberg (Eds.), Handbook of the economics of innovation (pp. 1034–1076). Amsterdam: Elsevier.

Haskel, J., & Westlake, S. (2017). Capitalism without capital: The rise of the intangible economy. Princeton: Princeton University Press.

Jaffe, A. (1986). Technological opportunity and spillovers of R&D: Evidence from firms’ patents profits and market value. American Economic Review, 76(5), 984–1001.

Kogut, B., & Zander, U. (1992). Knowledge of the firm combinative capabilities and the replication of technology. Organization Science, 3, 383–397.CrossRef

Lazonick, W. (2007). The US stock market and the governance of innovative enterprise. Industrial and Corporate Change, 16(6), 983–1035.

Lazonick, W. (2010). The Chandlerian corporation and the theory of innovative enterprise. Industrial and Corporate Change, 19(2), 317–349.

Link, A. N., & Siegel, D. N. (2007). Innovation entrepreneurship and technological change. Oxford: Oxford University Press.CrossRef

Lipsey, R., Carlaw, K. I., & Bekhar, C. T. (2005). Economic transformations: General purpose technologies and long term economic growth. Oxford: Oxford University Press.

Marrano, M. G., Haskel, J., & Wallis, G. (2009). What happened to the knowledge economy? ICT intangible investment and Britain’s productivity record revisited. Review of Income and Wealth, 55(3), 686–716.

Marx, K. (1857–1858) (1974). Grundrisse: Foundations of the critique of political economy. London: Penguin Books.

Mazzucato, M., & Shipman, A. (2014). Accounting for productive investment and value creation. Industrial and Corporate Change, 23(1), 1–27.CrossRef

Nelson, R. R. (1959). The simple economics of basic scientific research. Journal of Political Economy, 67, 297–306.CrossRef

Ostrom, E. (2010). Beyond markets and states: Polycentric governance of complex economic systems. American Economic Review, 100(3), 641–672.CrossRef

Pakes, A., & Griliches, Z. (1984). Patents and R&D at the firm level: A first look. In Z. Griliches (Ed.), R&D patents and productivity (pp. 55–72). Chicago: University of Chicago Press for NBER.

Penrose, E. T. (1959). The theory of the growth of the firm. Oxford: Basil Blackwell.

Rassenfosse, G. (2017). An assessment of how well we account for intangibles. Industrial and Corporate Change, 26(3), 517–534.

Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98, S71–S102.CrossRef

Romer, P. M. (1994). The origins of endogenous growth. Journal of Economic Perspectives, 8, 3–22.CrossRef

Romer, P. M. (2015). Mathiness in the theory of economic growth. American Economic Review, 105, 89–93.CrossRef

Sah, R. K., & Stiglitz, J. E. (1986). The architecture of economic systems. American Economic Review, 76, 716–727.

Sah, R. K., & Stiglitz, J. E. (1988). Committees hierarchies and polyarchies. Economic Journal, 98, 451–470.CrossRef

Schumpeter, J. A. (1911–1934). The theory of economic development. Cambridge: Harvard University Press.

Schumpeter, J. A. (1942). Capitalism, socialism and democracy. New York: Harper and Brothers.

Solow, R. M. (1957). Technical change and the aggregate production function. Review of Economics and Statistics, 39(3), 312–320.CrossRef

Ståhle, P., Ståhle, S., & Lin, C. Y. Y. (2015). Intangibles and national economic wealth: A new perspective on how they are linked. Journal of Intellectual Capital, 16(1), 20–57.

Stiglitz, J. E. (1987). Learning to learn, localized learning and technological progress. In P. Dasgupta & P. Stoneman (Eds.), Economic policy and industrial performance. Cambridge: Cambridge University Press.

Stiglitz, J. (1999). Knowledge as a global public good. In I. Kaul, I. Grunberg, & M. Stern (Eds.), Global public goods: International cooperation in the 21st century. Oxford: Oxford University Press.CrossRef

Stiglitz, J. E., & Weiss, A. (1981). Credit rationing in markets with imperfect information. American Economic Review, 71, 912–927.

Teece, D. J. (2000). Managing intellectual capital: Organizational strategic and policy dimensions. Oxford: Oxford University Press.

Tobin, J., & Brainard, W. (1977). Asset markets and the cost of capital. Economic progress, private values and public policy: Essays in honor of William Fellner (pp. 235–262). Amsterdam: North-Holland.

Weitzman, M. L. (1996). Hybridizing growth theory. American Economic Review, 86(2), 207–212.

Titel: The Economics of Knowledge
verfasst von: Cristiano Antonelli
Verlag: Springer International Publishing
Buch: The Knowledge Growth Regime
Print ISBN: 978-3-030-05507-3

Electronic ISBN: 978-3-030-05508-0

Copyright-Jahr: 2019
DOI: https://doi.org/10.1007/978-3-030-05508-0_2

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Technik"

Springer Professional "Wirtschaft"