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• W2108046278 abstract "Abstract This paper presents a single unified framework that integrates the theoretical literature on Schumpeterian endogenous growth and major strands of the empirical literature on R&D, productivity growth and productivity convergence. Starting from a structural model of endogenous growth following Aghion and Howitt (1992, 1998) , we provide microeconomic foundations for the reduced‐form equations for total factor productivity (TFP) growth frequently estimated empirically using industry‐level data. R&D affects both innovation and the assimilation of others’ discoveries (“absorptive capacity”). Long‐run cross‐country differences in productivity emerge endogenously, and the analysis implies that many existing studies underestimate R&D's social rate of return by neglecting absorptive capacity." @default.
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• W2108046278 date "2003-03-01" @default.
• W2108046278 modified "2023-10-14" @default.
• W2108046278 title "R&D and Absorptive Capacity: Theory and Empirical Evidence*" @default.
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• W2108046278 doi "https://doi.org/10.1111/1467-9442.00007" @default.
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