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date: 18 May 2021

Abstract and Keywords

Markets for knowledge are increasingly important to innovation, economic growth, and international competitiveness. This chapter examines five distinct markets through which knowledge can be exchanged: the market for codified knowledge (licensing), the market for tacit knowledge (alliances), the market for encapsulated knowledge (sale/purchase of sophisticated products), the market for workers’ knowledge (labor mobility), and the market for firm-wide knowledge or capabilities (mergers and acquisitions). For each type of market, the chapter considers the implications for international economic activity and governance.

Keywords: markets for knowledge, technology licensing, alliances, international alliances, learning-by-exporting, learning-by-importing, learning-by-hiring, international knowledge flows

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