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2015-09-10T10:11:10Z urn:hdl:10259/3840 Innovation, catch-up, and leadership in science-based industries Almudi, Isabel Fatas-Villafranca, Francisco Izquierdo Millán, Luis Rodrigo In this article, we seek to shed new light on the sources of industrial leadership and catch-up in science-based industries. We propose an evolutionary model that incorporates scientists’ training and migration, endogenous R&D decisions, and the possibility of funding capital accumulation through debt. The analysis of the model allows us to characterize a robust pattern of industrial catch-up. Likewise, the sensitivity analysis shows which parameters act as pro-catch-up factors or slow down the process. The identification of stationary-state conditions of the model helps us to interpret the simulations, and highlights crucial interactions between technology-supporting institutions and market demand at the basis of industrial catch-up. Finally, the robustness analysis reveals further interdependencies among innovation, scientist mobility, and demand 2015-09-10T10:11:10Z 2015-09-10T10:11:10Z 2012-04 info:eu-repo/semantics/article 0960-6491 http://hdl.handle.net/10259/3840 10.1093/icc/dtr041 eng Industrial and Corporate Change, 2012, V. 21, n. 2, p. 345–375 http://icc.oxfordjournals.org/content/21/2.toc info:eu-repo/grantAgreement/MICINN/ECO2010-14929 info:eu-repo/semantics/openAccess Oxford University Press