| Popis: |
Empirical evidence shows that innovation is geographically concentrated,\ud but whether localised knowledge spillovers provide a logically\ud valid explanation for this phenomenon is unclear. I show that in the\ud context of cost-reducing R&D spillovers between Cournot oligopolists\ud the explanation is plausible: localised knowledge spillovers encourage\ud agglomeration, but whether this leads to higher levels of effective R&D\ud depends on the extent of the spillovers, the number of farms, and the\ud industry's R&D effciency. Contrary to the earlier theoretical work,this illustrates a context, in which the localised knowledge spillover\ud explanation is actualised, and provides necessary conditions, which\ud can be empirically tested. |
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