ABSTRACT
Innovation has been identified as the predominant driver for the development of global, national and regional economies (Jensen et al., 2007). The role of innovative activities has been pioneered in the endogenous growth theory, which has integrated knowledge into theoretical growth models (Romer, 1986, 1994). A broad strand of publications has subsequently emerged, operationalizing knowledge spillover as an explanation concerning how knowledge drives growth (e.g. Acs et al., 2012; Agarwal et al., 2007).
