The reorganization of the American innovation ecosystem and the challenge of translating science

Ashish Arora, Sharon Belenzon, Andrea Patacconi and Jungkyu Suh

Industrial and Corporate Change, 2025, vol. 34, issue 6, 1206-1228

Abstract: In this paper, we focus on lack of translational research as a potential explanation for the recent slowdown in productivity growth, as opposed to a slowdown in science or the decline in the novelty of science. We provide evidence that the translation of science (as measured through citations by patents) has dropped for novel science. This drop is correlated with the withdrawal of large firms from science (especially the physical sciences), as measured through their publications. Fields where venture capital-backed startups have entered have experienced an increase in the translation of science, but their entry has largely occurred in the life sciences and Information and Communication Technology. Sectors such as chemicals and materials science have instead been neglected, both by large firms and startups. Our results point to the role of large firms and their labs in facilitating the translation and commercialization of science. A growing division of innovative labor may have delivered gains from specialization in the production and use of science in some sectors, but appears to have left a void in others.

JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1093/icc/dtaf050 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:indcch:v:34:y:2025:i:6:p:1206-1228.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Industrial and Corporate Change is currently edited by Josef Chytry

More articles in Industrial and Corporate Change from Oxford University Press and the Associazione ICC Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().