Many writers have claimed that research and development (R&D) has two faces. In addition to the conventional role of stimulating innovation, R&D enhances technology transfer (absorptive capacity). We explore this idea empirically using a panel of industries across twelve OECD countries. We find R&D to be statistically and economically important in both technological catch-up and innovation. Hum...

The increase in equity prices over the 1990s has to a large degree been attributed to permanently higher productivity growth that is derived from the ‘new economy’ and related research and development (R&D) expenditures. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions, productivity advances can only h...

In order to cope with the objective contradiction of worsening environmental problems and rigid demand for energy due rapid economic development, it is great significance explore technology management mode microgrid which self-used locally consumed renewable energy. this study, on basis clarifying construction goal microgrid, system designed, control consistent characteristics selected, busines...

Many writers have claimed that research and development (R&D) has two ‘faces’. In addition to the conventional role of stimulating innovation, R&D enhances technology transfer by improving the ability of firms to learn about advances in the leading edge (‘absorptive capacity’). In this paper we explore this idea empirically using a panel of industries across twelve OECD countries. We find evide...