Technology's contribution to economic growth and competitiveness has been the subject of vigorous debate in recent years. This book demonstrates the importance of a historical perspective in understanding the role of technological innovation in the economy. The authors examine key episodes and institutions in the development of the U.S. research system and in the development of the research systems of other industrial economies. They argue that the large potential contributions of economics to the understanding of technology and economic growth have been constrained by the narrow theoretical framework employed within neoclassical economies. A richer framework, they believe, will support a more fruitful dialogue among economists, policymakers, and managers on the organization of public and private institutions for innovation. David Mowery is Associate Professor of Business and Public Policy at the School of Business Administration, University of California, Berkeley. Nathan S. Rosenberg is Fairleigh Dickinson Professor of Economics at Stanford University. He is the author of Inside the Black Box: Technology and Economics (CUP, 1983).

Technology and the Pursuit of Economic Growth.

Links and impacts: the influence of public research on industrial R&D

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The Gifts Of Athena Historical Origins Of The Knowledge Economy

As with other industries, the driving force behind the pharmaceutical industry is economic. However, the economic influences affecting pharmaceutical companies differ markedly from those affecting other industries. Among the major differences are price controls imposed in some countries and threatened in others; the substitution of generic products for the innovator's product, once the original patent runs out; and the shrinking number of customers for drugs. Purchasing decisions are now being made primarily by formulary committees of hospitals, consortia, and managed care institutions. This book, written by a professor of economics, focuses on economics, but none of the topics mentioned above is discussed in any depth. Rather, the author discusses the economics of drug discovery and, to a lesser degree, drug development. Precise economic models of drug discovery and development are presented. Gambardella describes the transition of drug discovery during this century from random screening and trial-and-error methods to the more

Science and Innovation: The US Pharmaceutical Industry During the 1980s

The patent system has been faced for more than ten years with an avalanche of patent filings, which puts into question its ability to fulfil its social mission of encouraging innovation and the diffusion of technology. This situation is due to the emergence of new technologies, the adoption of new and more aggressive IP strategies by the business sector, and progressive global harmonization of patent systems. This book aims at providing an analysis of patent systems in general, and the European patent system in particular. Through an emphasis on the historic, strategic, and legal context of patent systems the first part of the book shows how patents progressively have been designed as an incentive mechanism which allows their holder to charge a mark up over the marginal cost through restricted competition. Patents also involve the disclosure of inventions, and hence encourage the diffusion of knowledge. Over the past century patents have gradually become the currency of technology markets. The book demonstrates how the design of patent law and practice can benefit from economic analysis, regarding notably the patent subject matter (what should be patentable or not), the optimal inventive step, the scope of protection, and the duration. The second part of the book is devoted to the European patent system. Patenting procedures in Europe are complex, as national routes exist in parallel with the centralized procedure handled by the European Patent Office, triggering complex strategies by applicants in order to maximize their exclusive rights and reduce competition. The recent development of various filing strategies and their impact on the granting process are examined in the light of factual evidence. The recent explosion of the number and size of patent applications raises the issue of quality maintenance. The book puts forward issues to be addressed by patent policy in Europe: putting quality of patents first, making procedures stricter for applicants, reinforcing the integration of the system at the European level, and inscribing the economic mission of the system in the European Patent Convention so that the case law would integrate economic concerns.

The economics of the European patent system: IP policy for innovation and competition

Executive SummaryA defining feature of modern economic growth is the systematic application of science to advance technology. However, despite sustained progress in scientific knowledge, recent pro...

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The Changing Structure of American Innovation: Some Cautionary Remarks for Economic Growth

Well functioning Markets for Technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality inventions, reliance on science may enhance gains from trade and reduce the transfer cost of knowledge and other transaction costs. Using large scale data, we show that patents citing science are more likely to be traded, especially for novel patents and for smaller inventors. Leveraging the fall of the Berlin Wall as a source of exogenous variation in the relevant scientific knowledge to technological fields, we confirm reliance on science increases the likelihood that the invention will be traded

/pdf/science-and-the-market-for-technology-fu8jzsibdv.pdf

Science and the Market for Technology

Why the U.S. innovation ecosystem is slowing down

A defining feature of modern economic growth is the systematic application of science to advance technology. However, despite sustained progress in scientific knowledge, recent productivity growth in the U.S. has been disappointing. We review major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a growing division of labor between universities focusing on research and large corporations focusing on development. Knowledge produced by universities is not often in a form that can be readily digested and turned into new goods and services. Small firms and university technology transfer offices cannot fully substitute for corporate research, which had integrated multiple disciplines at the scale required to solve significant technical problems. Therefore, whereas the division of innovative labor may have raised the volume of science by universities, it has also slowed, at least for a period of time, the transformation of that knowledge into novel products and processes.

Jungkyu Suh

Papers

The Changing Structure of American Innovation: Some Cautionary Remarks for Economic Growth

Science and the Market for Technology

Why the U.S. innovation ecosystem is slowing down

The Changing Structure of American Innovation: Some Cautionary Remarks for Economic Growth