Empirical Patterns of Firm Growth and R&D Investment : A Quality Ladder Model Interpretation  

Oleh:

Klette, Tor Jakob ; Griliches, Zvi

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 110 no. 463 (2000), page 363-387.
Topik: quality; firm growth; R & D investment; quality ladder interpretation
Fulltext: 363.pdf (337.24KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

We present a partial equilibrium model of endogenous firm growth with R & D investment and stochastic innovation as the engines of growth, drawing on the quality ladder models in the macro growth literature, and the literature on patent races and the discrete choice models of product differentiation. The model fits a number of empirical patterns well, including : (i) a skewed size distribution of firms with persistent differences in firm sizes, (ii) firm growth independent of firm size, as stated in the so - called Gibrat's law, and (iii) R & D investment proportional to sales.

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