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Knowledge Enclosures, Forced Specializations and Investment Crisis

Year: 2012

Type: article

Abstract: Like land before the industrial revolution, much knowledge is being enclosed in private hands. These enclosures have become a major factor in specialization among firms and among countries: both are forced to specialize in the fields that are not restricted by the enclosures of the others. This forced specialization is highly asymmetric and involves strong self-reinforcing innovation patterns: we show that it is mainly driven by the existing knowledge enclosures, and that it polarizes investment opportunities among firms and, even more so, among countries. Moreover, also the world economy as a whole suffers from this restriction of investment opportunities, which, in our view, is one of the factors contributing to the present crisis.

Source: RePEc: Research Papers in Economics

Authors: Filippo Belloc, Ugo Pagano

Institutions: University of Chieti-Pescara, University of Siena

Language: English

Topic: Intellectual Property and Patents

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Industry, innovation and infrastructure, Decent work and economic growth

Open Access status: green

OpenAlex ID: W1583267268

FWCI: 1.46

Cites: 57

Cited by: 10

Related to: 10