Revistas electrónicas

TÍTULO:

Structural Change and Economic Dynamics

NÚMERO:

Vol. 18 No.2 June 2007

DIRECCIÓN ELECTRONICA:

http://www.sciencedirect.com/science/journal/0954349X

NOTAS:

Este vínculo es el único para entrar a la base de datos Science Direct. Para ver el número de revista al que se hace referencia en este boletín, selecciónelo en el menú del lado izquierdo.

En este sitio usted encontrará la versión íntegra de los artículos en formato Acrobat (PDF).

ABSTRACTS

Editorial Board
Page CO2

No tiene resumen

Nicolas Carayol and Jean-Michel Dalle. Sequential problem choice and the reward system in Open Science

In this paper we present an original model of sequential problem choice within scientific communities. Disciplinary knowledge is accumulated in the form of a growing tree-like web of research areas. Knowledge production is sequential since the problems addressed generate new problems that may in turn be handled. This model allows us to study how the reward system in science influences the scientific community in stochastically selecting problems at each period. Long term evolution and generic features of the emerging disciplines as well as relative efficiency of problem selection are analyzed.

Nick von Tunzelmann and Qing Wang. Capabilities and production theory

The paper draws on a specification by Sen to model consumer capabilities and welfare, and extends this to modelling capabilities of producers and other agents. ‘Dynamic interactive capabilities’ are the outcome of successful interaction between evolving consumer and/or supplier capabilities and evolving producer capabilities, all occurring in ‘real time’ to meet the needs of dynamic competition in Schumpeter's sense. This involves learning on each side, as well as interactive learning between them. The paper then investigates the direction of both product and process changes in producers, driven by demand as well as supply factors through historical time and during structural change. Some consideration is given as to why orthodox production theory should have failed to broach so many of the issues which appear to be driving dynamic capabilities and productivity change in historical practice. Paths for further development of the capabilities approach are suggested.

Thomas R. Michl and Duncan K. Foley.Crossing Hubbert’s peak: Portfolio effects in a growth model with exhaustible resources

This paper elaborates a two-class growth model with an exhaustible resource (“oil”) and an alternative technique (“solar”). Bequest savers accumulate wealth, consisting of capital and oil, saving a constant fraction of their end-of-period wealth. The price of oil obeys Hotelling’s rule. Rising oil prices and the depletion of oil supplies create portfolio effects on the accumulation of capital. When growth is constrained by an exogenously increasing labor force, these wealth effects express themselves in changes in the distribution of income, which first shifts toward profits and then shifts back toward wages as the oil stocks approach depletion. When growth is constrained by capital (the labor force is endogenous), the portfolio effects express themselves in changes in the rate of capital accumulation, which first declines and then rises sharply as the oil stocks approach depletion.

Giovanni Marini and Andrea Pannone. Capital and capacity utilization revisited: A theory for ICT-assisted production systems

In this paper we present a framework as how to analyze capital and capacity utilization issues with reference to production processes heavily characterized by the use of ICT. We derive this framework by developing in original way the fund–flow model of Georgescu-Roegen, one of the pioneers of the capital utilization analysis, since this model is able to capture many qualitative aspects of production, above all the issue of the different time profile of use of the production elements.

In the economic literature capital utilization is often equated with capacity utilization. However, if we refer to the neo-classical production analysis, this is true only if there is but one fixed input (capital) and if production is characterized by constant returns of scale. In a different way, we study capital and capacity utilization issues under the hypothesis of increasing returns of scale, particularly significative in ICT-assisted productions. The main contribution of the paper is to show that an important way of varying capital utilization is through the flexibility of a ‘machine’ to perform some tasks at the same time and the ability of ICT to exploit economically these possibilities. The analysis addresses a partial equilibrium level. Moreover, we show as our framework could be extended to include the case of multi-production with heterogeneous capital.

Giorgio Vittadini and Pietro Giorgio Lovaglio. Evaluation of the Dagum–Slottje method to estimate household human capital

In Dagum and Slottje's breakthrough contribution of on human capital (2000), the authors combine its microeconomic estimation as a standardized latent variable with the macroeconomic estimation of its average value in the population. The standardized latent variable is obtained applying the partial least squares method after transforming the qualitative indicators considered as investments in human capital and called formative indicators. This approach, however, does not take into account the effects of investing in human capital (reflective indicators), hence ignoring its economic definition. The main purpose of this paper is to introduce an improved statistical method of household human capital estimation as a standardized latent variable which is a function of both formative and reflective indicators. The latter is measured by household earned income, excluding income generated from wealth.

A comparison of the new results with those obtained by Dagum and Slottje [Dagum, C., Slottje, D.J., 2000. A new method to estimate the level and distribution of the household human capital with applications. Journal of Structural Change and Economic Dynamics 11, 67–94] using the same data clearly show the advantages of the new approach.

Roberto Scazzieri.Paolo Sylos Labini: A Memoir

Torniamo ai classici. Produttività del lavoro, progresso tecnico e sviluppo economico (Back to the Classics. Labour productivity, technical progress and economic development), P. Sylos Labini. Laterza, Rome and Bari (2004).
Pages 282-289
Roberto Scazzieri

Roberto Scazzier.Torniamo ai classici. Produttività del lavoro, progresso tecnico e sviluppo economico (Back to the Classics. Labour productivity, technical progress and economic development).

No tiene resumen

TÍTULO:

Research Policy

NÚMERO:

Vol. 36 No.5 June 2007

DIRECCIÓN ELECTRONICA:

http://www.sciencedirect.com/science/journal/00487333

NOTAS:

Este vínculo es el único para entrar a la base de datos Science Direct. Para ver el número de revista al que se hace referencia en este boletín, selecciónelo en el menú del lado izquierdo.

En este sitio usted encontrará la versión íntegra de los artículos en formato Acrobat (PDF).

ABSTRACTS

Editorial Board
Page CO2

No tiene resumen

J. Christopher Westland and Eric Wing Kuen See-To. The short-run price-performance dynamics of microcomputer technologies

Models of technology growth are often conceived in terms of long-run trends in performance and price because, in general, short-run parameter stability and even the form of the growth function have proved elusive. Yet short-run growth models are arguably more useful for managers and research scientists, because the majority of their decisions are concerned with discretionary spending and operations rather than longer run strategic plans and investments. Our research explores short-run growth in microcomputer technologies by specifying growth models and parameter estimates for six commercially important computer technologies over short time periods with weekly data. Observations were acquired in a homogeneous market, limited to a collection time frame of less than two years. Data was collected at granular, weekly intervals, with concurrent tests to determine whether parameters were stable over successively longer intervals; conversely candidate growth models from longer ‘strategic’ planning horizons were tested to determine whether they scaled down to operational planning horizons. We found that an exponential model of performance-to-price growth is supported over short time horizons in all but one microcomputer technology (nonvolatile RAM). The exponential model and technology specific parameter estimates that are valid over short horizons were found to accurately scale up to longer planning horizons. We expect our results to contribute to more accurate price-performance forecasting at the corporate and product level; better decision making concerning inventory management, capacity utilization, lead and lag times in supply-chain operations, and efficiency of logistics.

Bat Batjargal.Internet entrepreneurship: Social capital, human capital, and performance of Internet ventures in China

This article examines the interaction effects of social capital and human capital (experience) of entrepreneurs on the performance of Internet ventures. The empirical data are composed of the longitudinal surveys of 94 Internet ventures in Beijing, China. The study found that the interaction of social capital and Western experience of entrepreneurs has a positive effect on the survival likelihood of Internet firms whereas the interaction of social capital and startup experience of entrepreneurs has a negative effect on firm performance.

Karin Hoisl.Tracing mobile inventors—The causality between inventor mobility and inventor productivity

This paper analyses the causality between inventor productivity and inventor mobility. The results show that the level of education has no influence on inventor productivity. Making use of external sources of knowledge, on the contrary, has a significant effect on productivity. Finally, firm size has a positive impact on productivity. Firm size also influences inventor mobility, although negatively. Whereas existing research implicitly assumes causality to point in one direction, this study ex ante allows for a simultaneous relationship. To deal with the expected endogeneity problem, instrumental variables techniques (IVREG and IVPROBIT) will be employed. Results show that mobile inventors are more productive than non-movers. Whereas a move increases productivity, an increase in productivity decreases the probability to observe a move.

Kim Kaivanto and Paul Stoneman.Public provision of sales contingent claims backed finance to SMEs: A policy alternative

In Europe (and elsewhere) governments intervene to stimulate innovation in the SME sector, and because SMEs face financial constraints in particular, governments encourage the provision of debt and equity (venture capital) finance to such firms. This paper discusses sales contingent claim (SCC) backed finance – funding secured only on a claim written on sales – that offers a different repayment profile to debt and equity. The attractiveness of such finance to firms as well as the behaviour of firms financed in this way are analysed. For various reasons SCC-backed financial instruments are generally not available to SMEs on the market, but it is argued that wider availability could further stimulate the growth and innovative activity of SMEs. The correction of this market incompleteness by the introduction of government schemes providing SCC-backed corporate finance for SMEs in higher risk (higher tech) sectors is recommended. The workability of such a scheme is explored by looking at existing examples aimed largely at project finance for larger firms.

Antonio Rodríguez-Duarte, Francesco D. Sandulli, Beatriz Minguela-Rata and José Ignacio López-Sánchez. The endogenous relationship between innovation and diversification, and the impact of technological resources on the form of diversification

This research has endeavoured to build on earlier research on the relationship between a firm's technological resources and the direction of its diversification, by trying to confirm the endogeneity of this relationship and by addressing the influence of innovation on the choice of the mode of diversification. Based on a sample of Spanish firms, our results suggest that innovation drives diversification, but not the reverse. The second important finding of this research is the empirical confirmation that knowledge assets are not related to the diversification mode.

Rahel Falk. Measuring the effects of public support schemes on firms’ innovation activities: Survey evidence from Austria

This paper discusses conceptual frameworks for measuring the effects of innovation policy. It begins with applying conventional descriptive methods to explore how firms rate and rank the merits of public intervention. Based on survey data from some 1200 Austrian firms we then challenge the hypothetical survey question (“What would you have done if public support was denied?”) by comparing the respective answers with changes that actually occurred when public assistance was refused. This is a contribution to the ongoing literature as is the attempt to relate any of the observed additionalities to the firms’ characteristics, their perceived barriers to innovation and the degree to which they make use of the public support system.

Morten Berg Jensen, Björn Johnson, Edward Lorenz and Bengt Åke Lundvall.Forms of knowledge and modes of innovation

This paper contrasts two modes of innovation. One, the Science, Technology and Innovation (STI) mode, is based on the production and use of codified scientific and technical knowledge. The other, the Doing, Using and Interacting (DUI) mode, relies on informal processes of learning and experience-based know-how. Drawing on the results of the 2001 Danish DISKO Survey, latent class analysis is used to identify groups of firms that practice the two modes with different intensities. Logit regression analysis is used to show that firms combining the two modes are more likely to innovate new products or services than those relying primarily on one mode or the other. The paper concludes by considering the implications for benchmarking innovation systems and for innovation policy.

Barry Bozeman and Monica Gaughan. Impacts of grants and contracts on academic researchers’ interactions with industry

Based on a representative national sample of 1564 academic researchers, we investigate the impacts of research grants and contracts on the nature and extent of faculty research and technology activities with industry. A particular focus is on understanding the independent contributions of industry and government grant sources on levels of industrial involvement. In addition to examining the source of grants, the study controls for a number of independent factors including: scientific field, research center affiliation, tenure status, and gender. Results suggest independent effects of grants and contracts on industrial activities. Grants and contracts from industry have a significant effect on academic researchers’ propensity to work with industry, as measured by an “industrial involvement scale.” Federally-sponsored grants also have an impact in increasing work with industry, but a more moderate one. Further, those with more grants and contracts (of each type) have a greater propensity for industrial involvement than those who have such contracts but fewer. This holds even when proxies for productivity and career stage are introduced in regression equations. The analysis also considers whether provision of grants and contracts is best viewed as a predictor of industrial involvement or just another type of industrial involvement using factor analysis and nested multivariate modeling to compare effects.

Paul L. Robertson and Parimal R. Patel. New wine in old bottles: Technological diffusion in developed economies

As new and old technologies generally co-exist in the complex production methods that characterise major sectors of modern developed economies, it is important for policy makers to analyse them together in order to take full advantage of complementarities and optimise outcomes for entire economies rather than for individual industries. In this article, we look at the interrelationships between technologies of different vintages from three perspectives. Firstly, we develop a short theoretical model to demonstrate the reciprocal connections between industries that are generally described as being ‘high technology’ with the other sectors that rely more heavily on ‘non-high tech’ methods. Through the use of input–output and patent data, we then show that long-established industries that are not generally thought of as being high tech often employ cutting-edge knowledge in their own research and development and, by extension, in their other activities. Finally, we use sectoral case studies to show how so-called high tech knowledge is used in specific long-established industries. Our conclusion is that relationships between high tech and non-high tech sectors are highly symbiotic and that the health of high tech firms and industries depends heavily on their ability to sell their outputs to other sectors in developed economies.

David H. Hsu. Experienced entrepreneurial founders, organizational capital, and venture capital funding

This paper empirically investigates the sourcing and valuation of venture capital (VC) funding among entrepreneurs with varied levels of prior start-up founding experience, academic training, and social capital. Social ties with VCs have been identified as an important precursor to organizational resource attainment and performance, and so this study analyzes the correlates of heterogeneous social links with VCs. I also examine venture valuation, as it reflects enterprise quality and entrepreneurs’ cost of financial capital. Using data from a survey of 149 early stage technology-based start-up firms, I find several notable results. First, prior founding experience (especially financially successful experience) increases both the likelihood of VC funding via a direct tie and venture valuation. Second, founders’ ability to recruit executives via their own social network (as opposed to the VC's network) is positively associated with venture valuation. Finally, in the emerging (at the time) Internet industry, founding teams with a doctoral degree holder are more likely to be funded via a direct VC tie and receive higher valuations, suggesting a signaling effect. The paper therefore underscores some important dimensions of heterogeneity among VC-backed entrepreneurs.

Vasilis Theoharakis, Demetrios Vakratsas and Veronica Wong. Market-level information and the diffusion of competing technologies: An exploratory analysis of the LAN industry

Market-level information diffused by print media may contribute to the legitimation of an emerging technology and thus influence the diffusion of competing technological standards. After analyzing more than 10,000 trade media abstracts from the Local Area Networks (LAN) industry published between 1981 and 2000, we found the presence of differential effects on the adoption of competing standards by two market-level information types: technology and product availability. The significance of these effects depends on the technology's order of entry and suggests that high-tech product managers should make strategic use of market-level information by appropriately focusing the content of their communications

Eiichi Tomiura. Effects of R&D and networking on the export decision of Japanese firms

This paper examines how internal R&D intensity and external networking channels are related with the firm's export decision, based on a large firm-level data set covering all manufacturing industries in Japan without any firm-size threshold. Internal R&D is not the only determinant of exporting, while it is strongly related with exports in the science-based sector. Collaborations with other firms on joint projects and operations of subsidiaries overseas are significantly linked to exports of large-sized firms, while affiliations with business associations and R&D intensity are critical for small-sized firms to export. Connections with computer networks have a weaker impact.

David H. Hsu, Edward B. Roberts and Charles E. Eesley.Entrepreneurs from technology-based universities: Evidence from MIT

This paper analyzes major patterns and trends in entrepreneurship among technology-based university alumni since the 1930s by asking two related research questions: (1) Who enters entrepreneurship, and has this changed over time? (2) How does the rate of entrepreneurship vary with changes in the entrepreneurial business environment? We describe findings based on data from two linked datasets joining Massachusetts Institute of Technology (MIT) alumni and founder information. New company formation rates by MIT alumni have grown dramatically over seven decades, and the median age of first time entrepreneurs has gradually declined from about age 40 (1950s) to about age 30 (1990s). Women alumnae lag their male counterparts in the rate at which they become entrepreneurs, and alumni who are not U.S. citizens enter entrepreneurship at different (usually higher) rates relative to their American classmates. New venture foundings over time are correlated with measures of the changing external entrepreneurial and business environment, suggesting that future research in this domain may wish to more carefully examine such factors.

A. Mina, R. Ramlogan, G. Tampubolon and J.S. Metcalfe. Mapping evolutionary trajectories: Applications to the growth and transformation of medical knowledge

This paper is concerned with the mechanisms through which medical knowledge emerges, grows and transforms itself. It is a large-scale empirical analysis of the development of treatments for coronary artery disease, which is the most common cause of death in developed countries. We uncover the structure of medical understanding of the disease and the path-dependent co-evolution of scientific and technical knowledge in the search for solutions to the relevant set of problems. After reviewing a broad range of secondary sources and a number of interviews with leading clinicians, we use new tools recently developed for the longitudinal analysis of large citation networks. We apply them to a bibliographic database of 11,240 papers published in the area of coronary artery disease between 1979 and 2003 and to a patent dataset of 5136 US patents documents granted between 1976 and 2003 for angioplasty-related devices. The results are consistent maps, which we critically discuss, of the major scientific and technological trajectories associated with one of the most important medical procedures of the last 30 years.