시장구조와 기술혁신, 경제성장과의 관계 조명 -기술흡수 비용을 고려한 내생적 기술혁신모형- = Market Structure and Innovation: Endogenous Innovation with Technology Absorption Costs

다국어 초록 (Multilingual Abstract)

This paper constructs a new model of R&D-based growth by incorporating the model of quality ladder into the conventional model of product variety, more specifically focusing on technology absorption costs into production process, and then provides insightful theoretical explanation for the inverted-U relationship between crucial factor affecting the resource allocation between innovation and absorption activities is substitutability among goods, and higher substitutability strengthens innovation activities in high-tech industry while raidly decreases the market share of lower-tech industry. More important implications for research intensity puzzle with argument that the effect of higher research intensity on economic growth is various depending on development stage of country.

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