Low Returns in R&D due to the Lack of Entrepreneurial Skills
Bibliographic Data
| ID | 9705070 |
|---|---|
| Authors | Claudio Michelacci (CEMFI, Madrid, corresponding author) |
| Year | 2003 |
| Volume | 113 |
| Issue | 484 |
| Pages | 207-225 |
| Publication date | 2003-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-0297.00095 |
| OpenAlex | W3123889974 |
| Language | EN |
| Citations received | 26 |
| References cited | 27 |
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
Business · Economic rent · Economics · Endogenous growth theory · Entrepreneurship · Human capital · Industrial organization · Market economy · Microeconomics · Production (economics · Returns to scale · Economic Growth and Productivity · Finance · Firm Innovation and Growth · Innovation Policy and RD
Entrepreneurship, Geography, and American Economic Growth
Social venture scaling
Why So Many Local Entrepreneurs
Is a sustainable loop of economy and entrepreneurial ecosystem possible? a structural perspective
The missing link
Solving the knowledge filter puzzle
The knowledge spillover theory of entrepreneurship
Patents, knowledge spillovers, and entrepreneurship
The missing pillar
Searching for the existence of entrepreneurial ecosystems
Regional entrepreneurship and innovation in Chile
The emergence of the knowledge spillover theory of entrepreneurship
Knowledge spillover entrepreneurship in an endogenous growth model
Entrepreneurship in the Theory of the Firm
An absorptive capacity theory of knowledge spillover entrepreneurship
Entrepreneurial organizing activities and nascent venture performance
The knowledge spillover theory of entrepreneurship
Regional systems of entrepreneurship
Innovation in rural Spain. What drives innovation in the rural-peripheral areas of southern Europe
Creative industries in East Asia
Self-employment and entrepreneurship in urban and rural labour markets
Knowledge base differentiation in urban systems of innovation and entrepreneurship
Entrepreneurial ecosystems, entrepreneurial activity and economic growth
Skills and knowledge-based entrepreneurship
Does migrant working experience stimulate returnees’ entrepreneurship
Entrepreneurship, Agglomeration and Technological Change
The theory of industrial organization
A Microfoundation for Social Increasing Returns in Human Capital Accumulation
Research, Patenting, and Technological Change
What Makes an Entrepreneur?
Entrepreneurship
The Allocation of Talent
On the Efficiency of Matching and Related Models of Search and Unemployment
Time Series Tests of Endogenous Growth Models
Business cycles
On the Principles of Political Economy, and Taxation
A Model of Growth Through Creative Destruction
Values, beliefs and regional variations in new firm formation rates
Steady Endogenous Growth with Population and R. & D. Inputs Growing
An Estimated Model of Entrepreneurial Choice under Liquidity Constraints
Growth without Scale Effects
R & D-Based Models of Economic Growth
Endogenous Technological Change
Homework in Macroeconomics
Fundamental Stocks of Knowledge and Productivity Growth
The Creative Response in Economic History
Entrepreneurship
Postwar Economic Problems
| Unique citing works | 26 |
|---|---|
| Citations per year | 1,24 |
| Citation span | 2005 - 2024 (20) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 26 |