• Journal of Korea Technology Innovation Society
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• v.15 no.1
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• pp.28-46
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• 2012

This paper proposes the science and technology policy implications of power law in econophysics methodology under the recent convergence technology environment. Empirical results are summarized as follow: first, similar empirical results are showed up using Hill estimates and Rank-1/2 estimates in patent data set during 1990 through 2008. Second, the estimates of power law exponents for technology capability distribution are decreased during the periods. The policy implications for science and technology development draw from the empirical results. First, the fact that the exponents of power law are decreased show the convergence of technology capability among countries. The our country policy directs focus on the innovation strategy rather than imitation strategy. Second, the volatility of technology change results from a few capable technology developers so that policy direct may need to control the technology power in the large technology developer or company. The methodology and analytical results used in the paper may also be useful for consider for the science and technology phenomena such as convergence and divergence of technologies among countries in the world.