Pecuniary Knowledge Externalities and the System Dynamics of Growth

Cristiano Antonelli ()

Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP series from University of Turin

Abstract: Recent advances in the economics of knowledge highlight the key role of pecunìary knowledge externalities in explaining the system dynamics of total factor productivity growth. When nonexhaustible technological knowledge is an input both in the production of new goods and of further knowledge, and the acquisìtìon of external knowledge, as a non-disposable input in the production of new knowledge, is not free, pecuniary externalities, as opposed to technological externalities, provide an important clue to understanding the key role of knowledge governance mechanisms in assessing the rate of growth of total factor productivity and economie systems at large.

New Economics Papers: this item is included in nep-ino and nep-knm
Date: 2007-03

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