According to some, the commercial bank is anachronistic and in a state of terminal decline. The evidence, however is mixed. This paper takes a different approach to analyzing the future of banks.

The paper presents a simple theory of intraday behavior in the interbank market.

According to Schumpeter, the creative process of economic development can be divided into three distinguishable stages of invention, innovation (commercialization) and imitation. We show why there is a rationale for the Schumpeterian entrepreneur to also include the inventor in the innovation...

The main purpose in this paper is to study to what extent accessibility to R&D can explain patent production. Therefore a knowledge production function is estimated both on aggregated level and for different industrial sectors. The output of the knowledge production is the number patent...

The issue of through what processes R&D collaboration with universities affects a firms’ innovation performance remains under-researched. In particular, university relationships have not been fully integrated in the open innovation framework. This study explores the relationship between...

In the last decade R&D expenditure in Italy has been lagging at a bare 1.2-1.3 per cent of GDP. Its private share is low by international standards and Italian firms take out only a small number of patents. External sources of innovation, however, are available to firms. This work aims at...

R&D managers at 50 firms randomly selected from all firms who have formal relations with two research universities in Stockholm are being interviewed about their rationales for collaboration. Drawing on this material, a distinctive typology of rationales and the therewith associated effects from...