Low Returns in R & D Due to The Lack of Entrepreneurial Skills  

Oleh:

Michelacci, Claudio

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 113 no. 484 (2003), page 207-225.
Topik: R&D; low returns; R & D; entrepreneurial skills
Fulltext: 207.pdf (144.04KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.9 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper proposes a model of endogenous growth where innovating requires both researchers, who produce inventions, and entrepreneurs, who implement them. As research and entrepreneurship compete in the allocation of aggregate resources, the relation between growth and research effort is hump - shaped. When entrepreneurs appropriate too little rents from innovation, too few resources are allocated to entrepreneurship and returns to R&D are low because of this lack of entrepreneurial skills. When so, innovation should be promoted by encouraging entrepreneurship rather than research.

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