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Knowledge Spillovers through Networks of Scientists

Zacchia, Paolo Knowledge Spillovers through Networks of Scientists. Working Paper (Submitted)

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Abstract

In this paper I directly test the hypothesis that interactions between inventors of different firms drive knowledge spillovers. I construct a network of publicly traded companies where each link is a function of the relative proportion of two firms’ inventors who have patent coauthors in both organizations. I use this measure to weigh the impact of R&D performed by each firm on the productivity and innovation outcomes of its neighbors. An empirical concern is that the resulting estimates may reflect unobserved, simultaneous drivers of both R&D and firm performance. I address this problem with an innovative IV strategy, motivated by a game-theoretic model of firm interaction. I instrument the R&D choices of one firm’s neighbors with those of firms that are sufficiently distant in the network. With the resulting spillover estimates, I calculate that the marginal social return of R&D amounts to approximately 24% of the marginal private return.

Item Type: Working Paper (Working Paper)
Uncontrolled Keywords: JEL Codes: C31, D85, O31, O33. Keywords: R&D Spillovers, Coauthorship Networks, Indirect Friends
Subjects: H Social Sciences > HB Economic Theory
Research Area: Economics and Institutional Change
Depositing User: Caterina Tangheroni
Date Deposited: 12 Feb 2016 11:11
Last Modified: 12 Feb 2016 11:11
URI: http://eprints.imtlucca.it/id/eprint/3056

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