期刊名称：Bank of Finland Research Discussion Papers (früher: Bank of Finland Discussion Papers)
印刷版ISSN：0785-3572
电子版ISSN：1456-6184
出版年度：2013
卷号：2013
出版社：Suomen Pankki = Bank of Finland
摘要：We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product rms, and entry/exit. Firms invest in exploration R&D to acquire new prod- uct lines and exploitation R&D to improve their existing product lines. We model and show empirically that exploration R&D does not scale as strongly with rm size as exploitation R&D. The resulting framework conforms to many regularities regarding innovation and growth di¤erences across the rm size distribution. We also incorporate patent citations into our theoretical framework. The framework generates a simple test using patent cita- tions that indicates that entrants and small rms have relatively higher growth spillover e¤ects.
