Author

Contributions

  • National Bureau of Economic Research. - Contributor

Publication

2004 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts

Language

English

Word Count

13,500 words, Guess

Page Count

54 pages

Identifiers

Description

"This paper examines the sources of financial innovations between 1990 and 2002, using Wall Street Journal articles as indicators of innovations. No evidence suggests that larger firms are particularly innovative; in many specifications, there is a disproportionate representation of smaller firms among the innovators. Less profitable firms and those with stronger academic ties also innovate more. The elasticity of innovation with respect to size appears to have increased sharply since the State Street decision that greatly accelerated the rate of financial patenting. I conclude by exploring how the origins of financial patents resemble or differ from those of innovations"--National Bureau of Economic Research web site.

Subjects

Topics

PatentsFinanceResearchStatistical methodsPatents -- United StatesTechnological innovationsFinance -- United States -- Research

Places

Series Statement

  • NBER working paper series -- no. 10223.
  • Working paper series (National Bureau of Economic Research) -- working paper no. 10223.

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