Innovative R&D and optimal investment under uncertainty in high-tech industries: An implication for emerging economies
Innovative R&D and optimal investment under uncertainty in high-tech industries: An implication for emerging economies
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DOI：
10.1016/j.respol.2009.06.006
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发表时间：
2009-10
期刊：
影响因子：
7.2
通讯作者：
Yingyi Tsai;J. Lin;L. Kureková
中科院分区：
文献类型：
--
作者：
Yingyi Tsai;J. Lin;L. Kureková
为了继续与发达国家趋同，新兴国家需要加强研究能力。他们往往试图通过发展战略产业来实现这一目标。本文件的目的是促进关于新兴经济体发展战略性产业的政策的有效性的辩论。本文建立了一个不确定条件下具有资本投入的产品创新三阶段模型，研究了市场对新发明需求波动时制造商的投资决策问题。研究结果表明，市场结构，企业的市场力量和相关的调整成本之间的相互作用的重要性。该文件阐述了在半导体和信息技术等部门努力发展战略产业的政策对新兴经济体的影响。
In order to continue on the path to convergence with advanced countries, emerging countries need to strengthen their research capabilities. Often they try to do this through the development of strategic industries. The objective of this paper is to contribute to the debate on the effectiveness of policies aimed at the development of strategic industries in emerging economies. The paper develops a three-phase model for product innovation with capital investment under uncertainty to study the investment decisions of a manufacturer in an industry facing a volatile market demand for new inventions. The findings demonstrate the importance of interactions between market structure, a firm's market power and the associated cost of adjustment. The paper draws out implications for emerging economies with regard to policies striving to develop strategic industries in sectors such as semiconductors and information technology.