NORDIC ECONOMIC POLICY REVIEW
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1 NORDIC ECONOMIC POLICY REVIEW ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ± ± ± ±± ± ƒ ± ± ± ƒ ƒ ± ± ƒ ± ± ± ± ± ± ± ± ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ä ± ± ±± ± ƒ ± NUMBER 2 / 2015
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4 Managing Editor ± ± ± ± ± ± ƒ ± Special Editors for this volume ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ç å ƒ ± ƒ ± ± ± ± ± ± ± ± ƒ ç è é å
5 Whither the Nordic Welfare Model? Torben M. Andersen, Jesper Roine, Bernt Bratsberg, Knut Roed, Michael Svarer, Michael Rosholm, Tuomas Takalo, Otto Toivanen, Guttorm Schjelderup, Julian V. Johnsen, Katrine V. Løken, Helena Holmlund, Nabanita Datta Gupta, Bent Jesper Christensen, Andreas Bergh, Johanna Mollerstrom and Kalle Moene
6 Torben M. Andersen, Jesper Roine, Bernt Bratsberg, Knut Roed, Michael Svarer, Michael Rosholm, Tuomas Takalo, Otto Toivanen, Guttorm Schjelderup, Julian V. Johnsen, Katrine V. Løken, Helena Holmlund, Nabanita Datta Gupta, Bent Jesper Christensen, Andreas Bergh, Johanna Mollerstrom and Kalle Moene ÒÒ Ò Ò ± ± ƒ ±± Ò ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ƒ ± ± ± ± Nordic co-operation Nordic co-operation ± é ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± Ζ ± Nordic co-operation ± ± ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± Nordic co-operation ± ± ± ± ± ± ± ƒ ± ± ƒ ± ± é ±± ± Nordic Council of Ministers ± ± ± ± ±
7 Contents ± ± Torben M. Andersen and Jesper Roine ± ± ± ± Bernt Bratsberg and Knut Røed ƒ ƒ ± ± Michael Rosholm and Michael Svarer ± ±± ± ƒ Tuomas Takalo and Otto Toivanen ± ± Guttorm Schjelderup ƒ ƒ ± ± ƒ ± Julian V. Johnsen and Katrine V. Løken ± ± ƒ ± ƒ ± ± Helena Holmlund ± ± ± Nabanita Datta Gupta and Bent Jesper Christensen ± ± ± Andreas Bergh ± ± ± ± ± ± ä ± ± ohanna Mollerstrom ± ƒ Kalle Moene
8 4. Economics of Innovation Policy 1 Tuomas Takalo, Hanken School of Economics and HECER and Otto Toivanen, KU Leuven, Aalto University and CEPR ± ±± ± ƒ ± ± ± ± ± ƒ ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ±± ± ± ƒ ± ± ± ƒ ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ƒƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ
9 ± ± ƒ ± ±± ± ± ± ± ± ± ƒ ä ±± ± ä ± ± ± ± ± ƒ ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ±± ± ± ±± ± ƒ ± ± ± ± ±± ± ƒ ± ± ± ± ±± ƒ ± ± ±± ± ƒ ± ± ± ± ± ±± ± ± ±± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ± ƒ ± ± ± ƒ ± ± ± ± ƒ ±± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ƒ ç å ç ± ± ±å ± ç ±± ±å ± ± ƒ ƒ ± ± ± ± ± ± ƒ ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ƒ ± ±
10 ± ƒ ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ± ± ± ƒ ± ± ±± ± ± ± ± ± ± ± ƒ ± ± ± ±± ± ƒ ± ± ± ±± ± ± ± ƒ ± ± ± ± ± ±± ± ±± ƒ ± ± ± é ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ±± ƒ ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ±± ± ±± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ƒ ± ± ± ± ƒ ± ä ± ± ±± ± ƒ ± ± ƒ ± ± ± ± ƒ ± ± ± ±± é ƒ ƒ ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ƒ ± ± ± ± ± et al ± ƒ ±± ± ±ƒ ± ± ± ± ƒ ± ƒ ± ± ± ±
11 ± ± ± ± ± ƒ ± ± ± ± ± ±± ± ± ± ± ±± ± ƒ ç ± ƒå ƒ ± ± ƒ ± ƒ ± ± ± ƒ ± ±± ± ± ± ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ƒ ± ƒ ± ± ± ƒ ± ± ± ± ± ±± ± ƒ ç± ± ±± ±å ± ± ± ± ± ± ±± ± ± ƒ ± ±± ± ± ± ± ± ± ± ± ± ± ± ƒ ç ± ±± ±å ƒ ±± ± ± ±± ± ± ƒ ± ± ± ± ± ± ±± ± ± ± ±± ± ± ± ± ± ± ± ± ± ƒ ± ± ƒ é ± ± ± ± ± ± ± ± ± ±± ± ƒ ± ± ± ± ± ƒ ± ± ± ± et al ± et al ƒ± ± ± ± ±
12 ±± ± Intellectual property rights ± ƒ ±ƒ ± ± ƒ ± ƒ ± ± ƒ ± ƒ ± ± ±± ± ƒ ƒ ± ± ± ±± ƒ ±± ± ƒ ± ±± ± ± ƒ ± ± ± ± ±± ±± ± ± ± ƒ ± ± ƒ ± ± ± ± ƒ ± ± ƒ ƒ ± ± ± ± ± ± ± ƒ ± ± ƒ ± ± ± ƒ ± ±± ± ± ± ± ± ± ± ƒ ± ± ± ± ƒ ƒ ± ± ± ± ±± ± ƒ ± ± ± ƒ ± ±± ± ± ± ± ƒ ƒ ± ± ƒ ƒ ± ± ± et al ± ± et al ± ± ƒ ± ± ± ± ± ± ±± ± ± ± ± ƒ ƒ ± ± ƒ ± ± ƒ ± ƒ ± ƒ ± ±± é ± ± ƒ ± ±± ± ± ± ƒ ± ±± ± ƒ
13 ± ± ±± ± ± ± ± ƒ ± ± ± ± ƒ ± ± ± ± ± ± ± ± ƒ ƒ ± ±ƒ ± ± ± ± ƒ ± ± ± ƒ ± ± ƒ ƒ ± ± ± ± ± ± ± ± ± et al ± ± ƒ ± ± ƒ ƒ ƒ ± ± ± ƒ ± ± ƒ ± ƒé ± ± ± ± ± ±± ± ƒ ± ± ± ± ± ± ± ± ƒ ± ± ƒ ± ƒ ± ± Government funding of private R&D ± ± ± ± ± ± ƒ ƒ ± ± ± ƒ é ± ƒ ± ± ± ± ± ± ± ƒ ± ƒ ± ƒ ± ƒ ±± ± ƒ et al ƒ ± ± ± ± ± ± ±± ± ± ± ± ± ± ƒ ± ±± ± ƒ ± ± ± ± et al ± ± ± ƒ ƒ ± ± ± ± ± ƒ ƒ ± ± ± ± ƒ ± ± ± ƒ ± ± ± ± ± ± ± ƒ ± ± ±
14 ƒ ± ± ± ± ± ä ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ƒ ± ± ƒ ± ƒ ± ± ± ƒ ± ± ± ± ± ƒ ± ± ± ƒ ± ± et al ± et al ± ± ± ± ƒ ± ± ± ± é ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± et al ƒ ± ± ± ± ƒ ƒ ± ± ± é ƒ ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ƒ ƒ ± ± ± ± ±± ± ±ƒ ± ƒ ± ± ç ƒ å ± ± ± ± ± ± ± ƒ ƒ ± ± ± ± ± ± ± ± ± ƒ ƒ ± ± ƒ ƒ ± ± ± ± et al ± ± ± ± et al ± ± ± ä ± ± ± ± ± ± ƒ ± ± ± et al
15 ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± é ± ± ± ± ± ±± ƒ ± ƒ ± ± et al ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ƒ ± ± ± et al ± ƒ ƒ ± ± ± ± ± ± ± ± ƒ ± ± ƒ ± ± ± ± ± ƒ ± ƒ ƒ ± ± ± ± ± ƒ ± ± ± ƒ ± ± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ±± ± ä ± ± ± ± ƒ ± et al et al > ± %. ± et al ± ± ± ± ± ± ± ± ± ± ± ± ± ± ±
16 ± et al ± ± ± Other innovation policy tools Prizes and contests ± ƒ ± ±± ± ± ƒ ƒ ± ƒ ± ± é ± ƒ targeted prizes ± ƒ ± ± ƒ ± ± ƒ ƒ ± ±± ± ± ± ± ± Blue-sky prizes ±± ± ± ± ƒ ± ± ± ± ± ± ƒ ±± ± ± ± ± ± ± ƒ ± ±± ± ± ƒ ± ± ± ƒ ƒ ± ƒ ± ± ± ± ± ± ± ±± ± ƒ ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ± ƒ ± ± ± ± ± ± ƒ ± ± ± ± ƒ ± ± ± ƒ ƒ ±± ± ƒ ± ± ± ± ƒ ± ±
17 ± ±± ± ± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ±± ± ± ± ƒ ƒ ± ± ± ± ƒ ± ± ± ± ƒ ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ±± ± ƒ ± ± ƒ ± ± ± ƒ ± ± ± ± ± Public procurement and production ±± ± ƒ ± ± ± ± ±± ± ± ± ± ƒ ±± ± ± ƒ ±± ± ± ± ± ±± ± ± ± ƒ ± ƒ ± ƒ ± ƒ ± ± ±± ± ƒ ± ± ƒ ±± ± ± ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ±± ± ± ±
18 ± ± ± ± ± ± ± ƒ ± minimizing ± ± research joint ventures ± ± ƒ ±± ± ƒ ± ± ± ± ± ± ± ± ƒ ƒ ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ) et al ± ± ± ± ± ƒ ± et al ± ±± ± Education ± ± ± ± ± ± ±± ± ± ± ± ± ± ;;±;± ± ± ± ± ± ± ± ± ƒ ± ± é ç ± ± ± ± å ƒ ± ± ± ± ± ± ± ± ƒ ± ±± ± ± ±± ± ± ±± ± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ƒ ± ± ƒ ± ± ƒ ± ± ƒ ƒ ± ± ± ±
19 ± ± ±± ƒ ± ± ƒ ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ±± ƒ ± ±ƒ ƒ ± ± ±± ƒ ± ± ±± ƒ ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ±± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ et al ± ± ± ± ± ± ƒ ± Basic research ± ƒ ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± et al ± ± ± ±± ± ƒ ± ± ± et al ± ƒ et al ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ±± ± et al ± ± ±
20 ± ± ± ± ƒ ± et al ±ƒ ± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ƒ ± ± ± ± ± ± ± ± ƒ ƒ ± ± ± ± Taxation ± ± et al ± ± ± ± ± ± ƒ ± ± ƒ ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ±± ± ± ± et al ± ± ± ±± ± ƒ ƒ ± ± ±± ± ± ± ± ± ± ƒ ± ƒ ± ± ƒ ƒ ± ƒ ± ±± ± ƒ ± ± ± ± ± ± ±± ƒ ± ± ä ± ± ± ± ƒ ä
21 ± ± ± ± ± et al ƒ ƒ ± ± ± ± ± ƒ ± ± ± ± ± ƒ ƒ ± ± ± ± ± ± ± ± ± et al ± ± ± ± ± é ä ± ± ± ƒ ± ± ± ± ± ± ± ±± ± ± ± ± ± ± ± ± ± ± et al ± ± ƒ ± ± ƒ ± ± ƒ ƒ ± ± ± ± et al ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± é ƒ ± ± ± ± ± ± ± ƒ ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ± ƒ Other indirect innovation policies ƒ ƒ ± ± ± ±± ƒ ƒ ƒ Competition policy ± ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ±
22 ± ± ± ± ±± ± ƒ ƒ ± ± ± ± ± ±± ± ± ± ±± ± ± ± ± ± ±± ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ±± ± ± ± ± ƒ ± ± ± ± ± ƒ ± ± ±± ± ± ± ƒ ± et al ± et al Trade policy ±± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ƒ ± ± ± ± ± ± ƒ ƒ ± ± ± ± ±± et al ± ± ± ± ± ± ± ±± ± ±± ± ± ± ± ± ± ± ± ± ± et al ± ± et al ±± ± ƒ ± ± ± ± labor markets ± ± ± ± ± ± ± ± ± ± ± ƒ ±± ± ƒ ƒ ± ± ± ± ± ± ƒ ± ƒ ± ± ± ± ± et al ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ±± ± ± ± ± ±± ± ƒ ± ± ±
23 ±± ƒ ±± ± ± ± ± ± ± ƒ ± ± ± ± ± ±± ± ± ± ± ± ± ƒ ƒ ƒ ƒ ± ± ƒ ± ƒ ± ± ƒ ± ± ± ±± ± ± ± ƒ ± ± ƒ ƒ é ± ± ±± ± ± ƒ et al ƒ ± ± ± ± ƒ ± ± ± ± ± ± financial market ± ± ± ± ± ± ±± ± ƒ ± ± ƒ ± ± ± ± ± ± ± ±± ± ± ± ± ƒ ± ± ± ± ± ± ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ƒ ± ± ± ƒ ± ±ƒ ± ± ± ± ± ƒ ± ƒ ƒ ± ± ± ± ± ± ƒ ƒ ± overfinancing ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± et al ± ± ƒ ± ± ± ±± ± ± ± ± ± ± ± ƒ ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ƒ ± ± ±
24 ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ±± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ) ƒ ± ± ± ± ƒ ± ± ± ± ± ± ± ƒ ± et al ± ± ± ƒ ƒ ± ± ± ± ± ƒ ƒ ± ƒ ± ± ± ± ± ± ± ƒ ± ± ƒ ± ±± ± ± ± ƒ ± ± ±± ± ± ± ± ± ƒ ± ± ƒ ± ± ± ± ± ± ± ± ±ƒ ± ± ± ± ± ± ± ƒƒ ± ± et al ± ± ± ±± ± ± ± ± ± ƒ ± ± ± ±± ± ± ± ± ± ± ± ƒ ± ± ± ƒ ± ± bankruptcy legislation ƒ ± ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± et al ± ± ± ƒ ± ± ± ± ± ± ± ± ± ± et al ± ± ± ± ± ± ƒ ± ± ± ± ± ± ±
25 ± ± ± ± ±± ± ± ± ± ± ± ± ± ±± ± ƒ ± ± ± ± ƒ ±± ± ± ± ±± ƒ ± ± ± ƒ ± ƒ ± ±± ± ± ± ± ±± ± ± ± ƒ ± ± ±± ± ± ƒ ± ± ± ± é ± ± ƒ ± ±± ƒ ± ± ± ± ± ƒ ± ± ±± ± ± ± ± ± ± ± ± ± ± ± ± ± ƒ ± ± ± ± ±± ± ± ± ± ± ± ± ± ± ƒ ƒ ± ± ± ± ƒ ƒ ± ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ±± ± ± ± ƒ ± ± ±± ± ± ± ± ± ± ± ƒ ±± ± ± ± ƒ ƒ ± ± ± ± ±± ± ƒ ± ± ƒ ± ƒ ± ƒ ± ± ± ± ± ± ± ± ± ± ± ±
26 ± ƒ ± ± ± ƒ ± ± ± Economic Journal ÒÒ Ò Ò ± ± Why Nations Fail? ƒ ± ± ƒ ± ±± ± Review of Financial Studies ä ÒÒ Ò Ò Ò ƒ ± ± ±± ± Journal of Law and Economics ä ÒÒ Ò Ò ± What Do We Learn From Schumpeterian Growth Theory? ± ± ± ƒ ± ƒ ± ± ± ƒ ƒ ± ± ± ±. Journal of European Economic Association ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± ± ± Quarterly Journal of Economics ä ± The Economics of Growth ± ± Patent Rights, Product Market Reforms, and Innovation ± ƒ ± ± ± ± ± ± ƒ ± ± Quarterly Journal of Economics ä ± ± Taxation and International Mobility of Inventors ± ƒ ± Back to Basics: Basic Research Spillovers, Innovation Policy and Growth ± ƒ ± ±± ± Journal of Financial Economics ä ÒÒ Ò Ò ± ± ± ± ± ± ƒ ± ± ƒ ± Journal of Urban Economics ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± The Rate and Direction of Inventive Activity: Economic and Social Factors ä ± ± ± ± ± ƒ ± ± Inequality: What Can Be Done? ± ƒ ÒÒ Ò Ò ± ± ƒ ±± ± ± ± The American Economic Review ä
27 ± ƒ ± ± ± ± ± é ± ± ± ± ± ± ± ± ± Environment and Planning A. ä ÒÒ Ò Ò ± Learning by Doing: The Real Connection between Innovation, Wages, and Wealth. ± ± ƒ ± ± ± ±± ± ± ± ± RAND Journal of Economics ä ÒÒ Ò Ò ± Patent Failure: How Judges, Bureaucrats and Lawyers Put Innovators at Risk ± ± ± ± ± ƒ ± ± ± ± ± ± ± ± ±± ± ± ± ƒ Review of Economic Studies ± ƒ ± ± ± ± ± ± ± ƒ ± ± FinanzArchiv ä ÒÒ Ò Ò ± ± ± ± Journal of Economic Perspectives ä ÒÒ Ò Ò ƒ ± ± ± ± Journal of Economics & Management Strategy ä ÒÒ Ò Ò ± ± ƒ ± ± ƒ ± ± ± ± ± ƒ ± ± ± Quarterly Journal of Economics ä ÒÒ Ò Ò Ò ± ± ± ± ƒ ± ± ± American Economic Review ä ÒÒ Ò Ò ± ± ± ± ƒ ± ƒ ± ± ƒ± ± The Second Machine Age: Work, Progress and Prosperity in a Time of Brilliant Technologies ± ± ± ± ä ÒÒ Ò Ò ± ± ± ± ±± ± ± ± ± ± ± ± ± Handbook of Regional and Urban Economics ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± ±± ± Journal of Financial Economics ä ÒÒ Ò Ò ±
28 ± ) ± ± ± ± Welfare Effects of European R&D Support Policies ± ± Debtor Rights, Credit Supply, and Innovation ± ä ± ± ± ± ± ± Economic Record ä ± Evaluating Government R&D Grants to Startups: The Case of a Small Open Economy ± ± ƒ ± ƒ ± ± ±± ± Research Policy ä ÒÒ Ò Ò ƒ Reforms and Distance to Frontier ± ± Ò ± ± ± ± ± ± ƒ ± ± ± ± Research Policy ä ÒÒ Ò Ò ± ± ƒ ± ± Quarterly Journal of Economics ä ÒÒ Ò Ò ± ± ± ± ± ± ± Journal of Public Economics ä ÒÒ Ò Ò ± ± Journal of Public Economics ä ÒÒ Ò Ò ) ± ± ± ± Review of Economics and Statistics ä ÒÒ Ò Ò ℵ ℵ ± ± ±± ± ä ± ± Research Policy ä ÒÒ Ò Ò ± ± ± ƒ ± ±± ± Oxford Review of Economic Policy ä ÒÒ Ò Ò Ò ± ± A Study on R&D Tax Incentives ± Ò Ò Ò Ò Ò Ò ± ± ± ± ±± ± ± Quarterly Journal of Economics ä ÒÒ Ò Ò Ò ± ± ± ± ± ± ± ± RAND Journal of Economics ä ÒÒ Ò Ò
29 ± ± ± ± ±± ± ± Quarterly Journal of Economics ä ÒÒ Ò Ò Ò > ± ± ± ƒ ± ± KYKLOS ä ÒÒ Ò Ò ± ± ± ± ± ƒ ± ƒ Research Policy ä ÒÒ Ò Ò ± ± The Economic Analysis of the Digital Economy ± ƒ ± ÒÒ Ò Ò Ò ± ± ƒ ± ƒ ± ± ± ± ± American Economic Review ä ± ± The Economics of Digitization ± ± ÒÒ Ò Ò ± ± ± ± ƒ ± ± ± ± ± Quantitative Economics ä ÒÒ ± ± Ò Ò Ò Ò ± ± ± ÒÒ Ò Ò ± ƒ ƒ ± ± ± ± ± ± ±± ± Review of Economics and Statistics ä ÒÒ ± ± Ò Ò Ò Ò ± ƒ ÒÒ Ò Ò ℵ ℵ é ±± ± ± ƒ ± ± Journal of Public Economics ä ÒÒ Ò Ò ± ± ± ± ± ±± ± ± ± Handbook of the Economics of Innovation ä ÒÒ Ò Ò ± ± ± ± ± ± Research Policy ä ÒÒ Ò Ò ± ± ±± ± ± ± Review of Economics and Statistics, ± ÒÒ Ò Ò ℵ ℵ ±± ±iversity Innovation, Local Economic Growth, and Innovation ± ± ± ± ± ƒ ± ± ± ±
30 ƒ ± ± ± ± ± ± ± Econometrica ä ÒÒ Ò Ò ƒƒ ± ± ± ± ± ± ± European Journal of Law and Economics ä ÒÒ Ò Ò ± Worthless, Impossible and Stupid: How Contrarian Entrepreneurs Create and Capture Extraordinary Value ± ± ± Patent Duration, Breadth, and Costly Imitation: Evidence from the US Pharmaceutical Market American Economic Review ä ± Innovations and Its Discontents: How Our Broken Patent System is Endangering Innovation and Progress, and What to Do About It. ± ± ± ± ± ƒ ± ± ± ± ± Durlauf (eds.), Elsevier B.V. ÒÒ Ò Ò ± ± ± Quarterly Journal of Economics ä ÒÒ Ò Ò ± ± ±± ± ƒ Journal of Economic Literature ä ± ± ±é ± ± ± Journal of Applied Corporate Finance ä ± ) ± ± ± ± ƒ ± ± ƒ ± ± Review of Economic Studies ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± ƒ ± Review of Economics and Statistics ä ÒÒ Ò Ò ℵ ÒÒ Ò Ò ± ± ± ± ±± ± ± ± Annual Review of Financial Economics ÒÒ Ò Ò ± ± ± ± Research Policy ä ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± é ± ± Quarterly Journal of Economics ä ÒÒ Ò Ò Ò ± ± ; ± ± ± ± ± ± ± ± ± ± ±. Journal of Financial Stability ä ÒÒ Ò Ò
31 ± ƒ ± ± ± ±± ± Quarterly Journal of Economics ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± ± Review of Economic Studies ä ÒÒ Ò Ò ± Boulevard of Broken Dreams. Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do about It ± ± ± ƒ ± ± ± ± ƒ ± ±± ± ± American Economic Review (Papers & Proceedings) ä The Entrepreneurial State ± ± ± Advances in the Study of Entrepreneurship, Innovation and Growt ä ƒ ÒÒ Ò Ò ± ± ƒ ± ± ƒ ± Handbook of Law and Economics ƒ ± ± ± ± ƒ Tax by Design ± ƒ ± ± ± ± ± ± ƒ ± Reforming Rules and Regulations ä ÒÒ Ò Ò Ò é ± ± ƒ ± ± ± ± ± American Economic Review ä ÒÒ Ò Ò ± ± ç ±± ± ƒ å ± ç å ƒ ± ± ± ƒ ƒ ± ± ƒ The New Economics of Innovation Policƒ ± ÒÒ Ò Ò ± ± ± Journal of Political Economy ä ÒÒ Ò Ò OECD Science, Technology and Industry Scoreboard 2011 ± ÒÒ Ò Ò ℵ ± ± ± ± ± ± Econometrica ä ± ± ± Review of Financial Studies ä ÒÒ Ò Ò Ò
32 ) ƒ ± Economic Journal ä ÒÒ Ò Ò ± ± ±± ± ± ± ± ± ± ± ± ƒ± ± ± ± ± RAND Journal of Economics ä ÒÒ Ò Ò ± ƒ ± ƒ Journal of Law, Economics, and Organizations ä Innovation and Incentives ± ± ± ± ±± ± American Economic Review ä ÒÒ Ò Ò Longitude: The True Story of a Lone Genius Who Solved the Greatest Scientific Problem of His Time &D and Productivity Growth: A Review of the Literature ± Competition Policy and Innovation ± ± ƒ ± ± ƒ ± Ò ± ± ± ƒ Journal of Law and Economics ä ÒÒ Ò Ò ± ƒ± ± ± ± ± RAND Journal of Economics ä ÒÒ Ò Ò ± ± ƒ Finnish Economic Papers ä ± ƒ ± ± ± ± ± The Review of Economics and Statistics ä ± ƒ ± ± ± ± ƒ ƒ ± ± International Journal of Industrial Organization. ä ÒÒ Ò Ò ± ± ± ± ± ± ± ± ± Scandinavian Journal of Economics ä ÒÒ Ò Ò ± ± ;;±;± ± ± ± ± ± ± Review of Economics and Statistics ± ÒÒ Ò Ò ℵ ℵ ± ± ; ± ± ± ± ± ± ƒ Law and Economics Research Papers ä ± ± ± Evaluate WBSO : Effecten ± ± ÒÒ ± Ò ± ±Ò ±Ò Ò Ò Ò
33 ± ƒ ± ±± ± ± ± ±, Journal of Political Economy ä ÒÒ Ò Ò ± ± ± ± ± ƒ ± ± ± Research Policy ä ÒÒ Ò Ò %. ± ± ± ± ± ± ± ƒ Journal of Economic Surveys ä ÒÒ Ò Ò
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