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Innovation, catch-up, and leadership in science-based industries

Author

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  • Isabel Almudi
  • Francisco Fatas-Villafranca
  • Luis R. Izquierdo

Abstract

In this article, we seek to shed new light on the sources of industrial leadership and catch-up in science-based industries. We propose an evolutionary model that incorporates scientists' training and migration, endogenous R&D decisions, and the possibility of funding capital accumulation through debt. The analysis of the model allows us to characterize a robust pattern of industrial catch-up. Likewise, the sensitivity analysis shows which parameters act as pro-catch-up factors or slow down the process. The identification of stationary-state conditions of the model helps us to interpret the simulations, and highlights crucial interactions between technology-supporting institutions and market demand at the basis of industrial catch-up. Finally, the robustness analysis reveals further interdependencies among innovation, scientist mobility, and demand. Copyright 2012 The Author 2011. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Suggested Citation

  • Isabel Almudi & Francisco Fatas-Villafranca & Luis R. Izquierdo, 2012. "Innovation, catch-up, and leadership in science-based industries," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 21(2), pages 345-375, April.
    • Handle: RePEc:oup:indcch:v:21:y:2012:i:2:p:345-375
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    File URL: http://hdl.handle.net/10.1093/icc/dtr041
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    Citations

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    Cited by:

    1. Lu Xu & Jie Xiong & Jie Yan & Richard Soparnot & Zhe Yuan, 2023. "Technological Uncertainty and Catch-Up Patterns: Insights of Four Chinese Manufacturing Sectors," Post-Print hal-04011634, HAL.
    2. Andrea Borsato & André Lorentz, 2023. "Data production and the coevolving AI trajectories: an attempted evolutionary model," Journal of Evolutionary Economics, Springer, vol. 33(5), pages 1427-1472, November.
    3. Isabel Almudi & Francisco Fatas-Villafranca & Luis Izquierdo, 2013. "Industry dynamics, technological regimes and the role of demand," Journal of Evolutionary Economics, Springer, vol. 23(5), pages 1073-1098, November.
    4. Isabel Almudi & Francisco Fatas-Villafranca & Jesus Palacio & Julio Sanchez-Choliz, 2020. "Pricing routines and industrial dynamics," Journal of Evolutionary Economics, Springer, vol. 30(3), pages 705-739, July.
    5. Lu Xu & Jie Xiong & Jie Yan & Richard Soparnot & Zhe Yuan, 2023. "Technological Uncertainty and Catch-Up Patterns: Insights of Four Chinese Manufacturing Sectors," Grenoble Ecole de Management (Post-Print) hal-04011634, HAL.
    6. Isabel Almudi & Francisco Fatas-Villafranca & Luis R. Izquierdo & Jason Potts, 2017. "The economics of utopia: a co-evolutionary model of ideas, citizenship and socio-political change," Journal of Evolutionary Economics, Springer, vol. 27(4), pages 629-662, September.
    7. Yuzhe Miao & Jaeyong Song & Keun Lee & Chuyue Jin, 2018. "Technological catch-up by east Asian firms: Trends, issues, and future research agenda," Asia Pacific Journal of Management, Springer, vol. 35(3), pages 639-669, September.

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