Abstract
Technological change has been identified to be the major driving force for economic development (Solow 1957). Technological change is mainly determined by public and particularly by private research and development (R&D). Industrial R&D is the most important source for product or process innovations which allows companies to gain competitive advantages leading to sustained economic growth (Brockhoff 1994; Hauschildt 1997). This finding is supported by empirical studies at the firm level which found a positive relationship between R&D expenditures and various measures of commercial success, e.g., measures of productivity, growth and profitability (Mairesse, Sassenou 1991; Morbey, Reithner 1990; Capon et al. 1990).
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© 1999 Springer-Verlag Berlin Heidelberg
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Ernst, H. (1999). Evaluation of dynamic technological developments by means of patent data. In: Brockhoff, K., Chakrabarti, A.K., Hauschildt, J. (eds) The Dynamics of Innovation. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-03988-5_5
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DOI: https://doi.org/10.1007/978-3-662-03988-5_5
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-08496-6
Online ISBN: 978-3-662-03988-5
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