Markets for technology and firms' strategies: the case of the semiconductor industry

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Abstract
This paper aims at developing an analytical framework in order to highlight the frontiers of the markets for technology. We examine the nature of the interrelations between market participants. The increasing segmentation of the value chain leads us to distinguish two forms of specialisation, absolute and relative. Moreover, we think that the semiconductor industry provides significant empirical grounds. Indeed, the evolution of the organisation of this industry clearly pinpoints the splitting of stages within the productive system and the emergence of specialised agents in the production and trade of technological knowledge. Knowledge exchanges essentially take place on quasi-markets for technology.

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