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Can I read Industry evolution and R&D externalities on EtoBox?
Industry evolution and R&D externalities by Stefan Fölster; Georgi Trofimov is a Economics, Econometrics and Finance article available to read on EtoBox.
What is Industry evolution and R&D externalities about?
R&D externalities can imply ranges of aggregate increasing returns to scale in R&D. As a consequence several equilibria can exist involving different numbers of firms and different R&D investment levels. In a theoretical model the equilibrium dynamics are analyzed, showing that cyclical fluctuations of the number of firms and R&D investment may be expected, and that the long-run equilibrium is highly sensitive to investors' initial beliefs. The model is tested empirically using a unique database comprising competing firms in various R&D races.
Who reads Industry evolution and R&D externalities?
It is typically read by researchers, students, and practitioners in Economics, Econometrics and Finance.
- Author
- Stefan Fölster; Georgi Trofimov
- Publisher
- Elsevier Science; Elsevier ; Elsevier BV (ISSN 0165-1889)
- Published
- 1997
- Language
- EN
- Field
- Economics, Econometrics and Finance (Social Sciences)