Determinants of Localized Technology Spillovers: Role of Regional and Industrial Attributes

摘要

In recent years, interest in research and development (R&D), innovations, technology spillovers and their impact on regional economic growth has grown significantly. The new growth theory emphasizes the role of technology spillovers and subsequent scale effects, which lead to increasing returns to scale of production and long-term growth (Romer, 1986,1990). However, R&D and innovations may not be sufficient conditions for regional growth. Although R&D has been considered the most important factor contributing to the creation of knowledge and, hence, productivity increases through spillover effects (Fagerber, 1988; Griliches, 1958, 1973; Hulton, 1975; Scherer, 1982; SOLOW, 1988), when it comes to regional economies, R&D alone does not necessarily lead to regional economic growth. Since knowledge is not bounded geographically due to its non-rival and non-exclusive characteristics, a new innovation introduced in California can be picked up and implemented in North Carolina and vice versa. Therefore, what is more important to regional economies is the degree to which externalities created by innovative activities are localized within their geographical boundaries. This reasoning suggests a very interesting set of questions. Do externalities associated with new technological development 'spill over' locally? If so, what regional and industrial (or technological) attributes influence the likelihood of the localization of technology spillovers?