The private returns to knowledge: A comparison of ICT, biotechnologies, nanotechnologies, and green technologies

Stucki, Tobias; Woerter, Martin (2019). The private returns to knowledge: A comparison of ICT, biotechnologies, nanotechnologies, and green technologies Technological Forecasting and Social Change, 145, pp. 62-81. Elsevier 10.1016/j.techfore.2019.05.011

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ICT, biotechnologies, nanotechnologies, and green technologies are among the most important emerging technological activities and may substantially increase economic returns. However, empirical evidence is rather scarce, as most existing literature focuses on the economic returns to knowledge in general and does not compare the effects of knowledge in different types of technologies. Based on a well-founded productivity model, we find (a) that knowledge in these “new growth” technologies shows larger economic returns than knowledge in traditional technologies; (b) a solid knowledge stock in traditional technologies is required to achieve positive economic returns from “new growth” technologies; (c) there are significant differences in the economic returns; the largest effects are achieved through knowledge in ICT, followed by biotechnology. Only moderate economic returns are detected for knowledge in nanotechnologies, and green technologies; (d) we also identify some evidence that technology convergence, i.e. technologies that are based on inter-disciplinary research activities, show larger economic returns than technologies generated based on a single discipline.

Item Type:	Journal Article (Original Article)
Division/Institute:	Business School > Institute for Sustainable Business > Sustainable Consumption Business School
Name:	Stucki, Tobias0000-0002-2400-0107 and Woerter, Martin
ISSN:	0040-1625
Publisher:	Elsevier
Language:	English
Submitter:	Tobias Stucki
Date Deposited:	13 Aug 2019 15:23
Last Modified:	05 Aug 2024 14:39
Publisher DOI:	10.1016/j.techfore.2019.05.011
Uncontrolled Keywords:	Technology comparisons Productivity Innovation Patents Biotechnology Nanotechnology Green technology Information- and communication technology
ARBOR DOI:	10.24451/arbor.7845
URI:	https://arbor.bfh.ch/id/eprint/7845