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- Title
Are Knowledge Spillovers Driving the Convergence of Productivity among Firms?
- Authors
Fung, Michael K.
- Abstract
This study evaluates the impact of knowledge spillovers on the convergence of productivity among firms. With the use of patent citation data, knowledge spillovers are decomposed into intra- and inter-industry spillovers, and internal knowledge flows. The findings from this study suggest that each firm is converging to its own steady-state productivity growth rate, which is conditional on the firm's R&D efforts and the intensity of intra-industry spillovers it receives. Moreover, if technology followers and leaders invest equally in R&D activities, the followers will eventually catch up with the leaders because the former tend to be the ones who receive knowledge spillovers from the latter.
- Subjects
INTELLECTUAL capital; INDUSTRIAL productivity; GROWTH rate; RESEARCH &; development; INDUSTRIAL research
- Publication
Economica, 2005, Vol 72, Issue 286, p287
- ISSN
0013-0427
- Publication type
Article
- DOI
10.1111/j.0013-0427.2005.00415.x