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Digital technologies, knowledge spillovers, innovation policies, and economic growth in a creative region.
- Source :
- Economics of Innovation & New Technology; Jul2016, Vol. 25 Issue 5, p470-484, 15p
- Publication Year :
- 2016
-
Abstract
- We theoretically study the impact of two innovation policies on economic growth in a region that is creative in the sense of Richard Florida and that uses digital technologies to produce a final consumption good. The use of these digital technologies in our creative region gives rise toincompleteknowledge spillovers. Our analysis generates three salient findings. First, we characterize the balanced growth path (BGP) equilibrium. Second, we solve the social planner's problem, describe the Pareto optimal allocation of resources, and then compare the Pareto optimal allocation with the BGP equilibrium allocation. Finally, we study the impacts that a research subsidy and a particular patent policy have on economic growth in our creative region and then we relate our findings to the incompleteness of the above-mentioned knowledge spillovers. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 10438599
- Volume :
- 25
- Issue :
- 5
- Database :
- Complementary Index
- Journal :
- Economics of Innovation & New Technology
- Publication Type :
- Academic Journal
- Accession number :
- 114606809
- Full Text :
- https://doi.org/10.1080/10438599.2015.1073485