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DYNAMICS OF KNOWLEDGE SPILLOVERS FROM PATENTS TO ENTREPRENEURSHIP: EVIDENCE ACROSS ENTREPRENEURSHIP TYPES
Author(s) -
Goel Rajeev K.,
Saunoris James W.
Publication year - 2017
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/coep.12224
Subject(s) - entrepreneurship , economics , economic geography , knowledge spillover , econometrics , industrial organization , finance
Using data across U.S. states over a recent decade, this paper uniquely uses three qualitatively different measures of entrepreneurship to examine the knowledge flows from patents, paying attention to the dynamic nature of such influences. We find that there are significant variations in the effects of knowledge flows across entrepreneurship types and, in general, these effects are not immediate. The greatest positive effect of knowledge spillovers is on startup entrepreneurship and the resulting magnitude grows somewhat over time. The spillovers are modest on overall entrepreneurship, while entrepreneurs who were previously employed see more immediate benefits. These findings are generally robust. ( JEL L26, O33, O51, M21)