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.
Original language | English |
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Pages (from-to) | 287-305 |
Number of pages | 19 |
Journal | Economica |
Volume | 72 |
Issue number | 286 |
DOIs | |
Publication status | Published - 1 May 2005 |
ASJC Scopus subject areas
- Economics and Econometrics