| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
CYCLICAL CONCENTRATION AND BIOTECH R&D ACTIVITY: A NEO-SCHUMPETERIAN MODEL
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| Autores: |
Oehmke, James F.
Wolf, Christopher A.
Weatherspoon, Dave D.
Naseem, Anwar
Maredia, Mywish K.
Raper, Kellie Curry
Hightower, Amie L.
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| Data: |
2000-06-13
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| Ano: |
1999
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| Palavras-chave: |
Research and Development/Tech Change/Emerging Technologies
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| Resumo: |
Several characteristics of biotech industry structure follow cyclical patterns. Mergers and acquisitions activity shows cyclical behavior, with peaks from 1988-92 and 1996-97 and a valley from 1993-95. The ratio of large-firm to small-firm field trials, and the Herfindahl-Hirshmann concentration index, move pro-cyclically with M&A activity. This paper develops a formal, dynamic, neo-Schumpeterian model of endogenous R&D and innovation. The model generalizes and extends the literature on biotech industry concentration. For specified parameter values, the out-of-steady-state dynamics are examined, and shown to generate model behavior which is consistent with empirical descriptions of biotech concentration and R&D-activity cycles.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
2110
http://purl.umn.edu/11792
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| Editor: |
AgEcon Search
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| Relação: |
Michigan State University>Department of Agricultural Economics>Staff Paper Series
Staff Paper 99-60
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| Formato: |
12
application/pdf
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