High-tech and high capability in a growth model

• 成果类型: Article
• 署名作者: Tong, J
• 署名单位: University of Southampton
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/j.0020-6598.2005.00316.x
• 发表日期: 2005
• 页码: 215-243
• 关键词: research-and-development; knowledge spillovers; invention; PRODUCTIVITY; science; patents

摘要

A growth model is developed to substantiate the conventional wisdom that regards high-tech high-capability firms as an engine of sustained technological progress. High-tech industries are characterized by abounding technological opportunities, which promote endogenous high capability firms due to a competitive escalation mechanism. While high-tech high-capability firms capitalize on and discharge the existing innovation potentials, they also contribute to recharge (due to knowledge spillovers). They are a source of growth and high wage rate. An inquiry into the reasons why the high-tech/high-capability growth mechanism is not widely adoptable across countries points to the role of the underlying corporate governance systems.