Information and Communication Technology (ICT) Investments in Israel STE-WP-37
The main goal of this work is to process and analyze first of its kind industry-level ICT-investments data in Israel between 1990 and 2003. This data enables, for the first time, thorough and detailed examination of the ICT investments and usage in Israel. Based on the data analysis and comparisons to parallel international data sources, […]
Do High-Skill Immigrants Raise Productivity? Evidence from Israeli Manufacturing Firms, 1990-1999 STE-WP-36
During the second part of the 1990s, the Israeli economy experienced a surge in labor productivity and total factor productivity, which was driven primarily by the manufacturing sector. This surge in productivity coincided with the full absorption and integration into the workforce of highly skilled immigrants from the former Soviet Union. The Soviet immigrants were […]
A Strategy for Developing Employment Opportunities for the Arabs in Israel: The Vision for Expanding the Arab Middle Class
This study analyzes the problems that face the Arab community in Israel in the field of work and employment. It presents a strategy for developing employment opportunities for the Arab minority in Israel. Moreover, the study suggests a new vision for expanding the Arab middle class in Israel by developing equal employment opportunities.
Harnessing Success: Determinants of University Technology Licensing Performance STE-WP-35
We study the impact of incentive pay, local development objectives and government constraints on university licensing performance. We develop and test a simple contracting model technology licensing offices, using new survey information combined with panel data on 86 U.S. universities for the period 1995-99. We find that private universities are much more likely to adopt […]
KNOWLEDGE-INTENSIVE PROPERTY RIGHTS (STE-WP-39)
Venture capitalism is a major institutional innovation based on identifying economies of scope in transactions of technological knowledge, bundled with managerial competence, reputation, screening procedures and equity. It has paved the way to the emergence of new surrogate markets for knowledge, i.e. financial markets specialized in trading knowledge-intensive property rights. This development has important benefits […]
The Limits of Capital: Transcending the Public Financer – Private Producer Split in R&D (STE-WP-40)
Despite a strong tendency in the privatization literature to prefer private sector solutions to public sector ones, in the case of R&D a near consensus has emerged that supports public R&D funding for private production as a solution to a host of market failures. This article explores theoretical justifications for a more expansive role for […]
Innovation Policy for Development: an Overview STE-WP-34
This paper provides a framework for thinking about innovation policies for development. In such context innovation should be construed as a very broad notion that includes product and in process innovations of various sorts, generated by rank and file workers as much as by R&D labs. The economic rationale for government support of R&D needs […]
Microeconomic Insights from Israel’s Venture Capital Emergence: Towards a Theory of Evolutionary Targeting of Infant Industries STE-33-2006
The development of Venture Capital in Israel during 1993-2000 is an example of policy-led industry emergence. The Israeli targeted policy adapted to trigger Venture Capital emergence is an example of successful infant industry policy. This policy stands on its own as a separate class, due to its non-conventional configuration and high impact. This paper both […]
The Dye Famine and its Aftermath: Knowledge Diffusion and Entry STE-WP-32
Venture Capitalists, Public Offerings or Strategic Investors? Financial Liquidation Profiles of Israeli Hi-Tech Firms STE-WP-31
The paper presents the concept of Firms’ Growth Profiles (FGPs) portraying the idea that the institutional environment confers upon firms a limited set of path-dependent growth options. The FGP concept is demonstrated by examining sequences of financial liquidation actions (raising funds from venture capitalists, through public offerings or from strategic investors) of Israeli Hi-Tech firms. […]