Pecuniary Knowledge Externalities Across European Countries – Are there Leading Sectors?

CEGE Working Paper No. 101

31 Pages Posted: 18 Jul 2010

See all articles by Agnieszka Gehringer

Agnieszka Gehringer

University of Goettingen (Göttingen) - School of Law, Economics, Social Sciences

Date Written: June 16, 2010

Abstract

This paper investigates empirically the occurrence of pecuniary knowledge externalities at the sectoral level across European economies. The main results suggest that, although some sectors can be considered as playing a particularly important role as a source of pecuniary knowledge externalities in the majority of examined countries, there exist significant national differences in the occurrence of these effects. Moreover, such external effects influence the dynamics of total factor productivity in downstream sectors and appear as a relevant source of growth in modern economies. As such, the concept of pecuniary knowledge externalities, as opposed to pure knowledge externalities postulated in the new growth theory, provides a new clue to understanding of the growth process.

Keywords: pecuniary knowledge externalities, pure knowledge externalities, knowledge production function, intermediate goods transactions

Suggested Citation

Gehringer, Agnieszka, Pecuniary Knowledge Externalities Across European Countries – Are there Leading Sectors? (June 16, 2010). CEGE Working Paper No. 101, Available at SSRN: https://ssrn.com/abstract=1641172 or http://dx.doi.org/10.2139/ssrn.1641172

Agnieszka Gehringer (Contact Author)

University of Goettingen (Göttingen) - School of Law, Economics, Social Sciences ( email )

Germany

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