Penetrating the ``knowledge filter'' in regional economies

Acs, Zoltan J. and Plummer, Lawrence A. (2005) Penetrating the ``knowledge filter'' in regional economies. Annals of Regional Science, 39 (3). pp. 439-456. ISSN 0570-1864

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Abstract

New knowledge in the form of products, processes and organizations leads to opportunities that can be exploited commercially. However, converting new ideas into economic growth requires turning new knowledge into economic knowledge that constitutes a commercial opportunity. A model introduces a ``knowledge filter'' between new knowledge and economic knowledge and identifies both new ventures and incumbent firms as the mechanism that reduces the knowledge filter and increases regional growth. This paper tests the hypotheses that new venture creation is a better mechanism than the absorptive capacity of incumbent firms for converting new knowledge into economic knowledge. Our results support the contention that new venture creation is a superior method of penetrating the regional ``knowledge filter'' than incumbent firms.

Item Type:	Article
Official URL:	http://link.springer.com/journal/168
Additional Information:	© 2005 Springer
Divisions:	Management
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
JEL classification:	L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L10 - General M - Business Administration and Business Economics; Marketing; Accounting > M1 - Business Administration > M13 - Entrepreneurship O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O10 - General O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O18 - Regional, Urban, and Rural Analyses O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O30 - General
Date Deposited:	14 Apr 2014 11:05
Last Modified:	19 Nov 2024 04:42
URI:	http://eprints.lse.ac.uk/id/eprint/56510

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