EconPapers    
Economics at your fingertips  
 

Heterogeneity in the internationalization of R&D: Implications for anomalies in finance and macroeconomics

Patrick Grüning

Finance Research Letters, 2018, vol. 26, issue C, 132-138

Abstract: Empirical evidence suggests that investments in research and development (R&D) by older and larger firms are more spread out internationally than R&D investments by younger and smaller firms. In this paper, I explore the quantitative implications of this type of heterogeneity by assuming that incumbents, i.e. current monopolists engaging in incremental innovation, have a higher degree of internationalization in their R&D technologies than entrants, i.e. new firms engaging in radical innovation, in a two-country endogenous growth general equilibrium model.

Keywords: Heterogeneous innovation; Technology spillover; Endogenous growth; Creative destruction; International finance (search for similar items in EconPapers)
JEL-codes: E22 F31 G12 O30 O41 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612317306931
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Heterogeneity in the Internationalization of R&D: Implications for Anomalies in Finance and Macroeconomics (2017) Downloads
Working Paper: Heterogeneity in the Internationalization of R&D: Implications for anomalies in finance and macroeconomics (2017) Downloads
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:eee:finlet:v:26:y:2018:i:c:p:132-138

DOI: 10.1016/j.frl.2017.12.014

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-07-24
Handle: RePEc:eee:finlet:v:26:y:2018:i:c:p:132-138