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. 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 > Institute for Sustainable Business > Sustainable Consumption
Business

Name:

Stucki, Tobias0000-0002-2400-0107 and
Woerter, Martin

ISSN:

00401625

Language:

English

Submitter:

Tobias Stucki

Date Deposited:

13 Aug 2019 15:23

Last Modified:

18 Dec 2020 13:28

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

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