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.
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