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on Innovation |
| By: | Lööf, Hans (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Mairesse, Jacques (CREST-ENSAE, Paris and UNU-MERIT Maastricht); Mohnen, Pierre (UNU-MERIT Maastricht) |
| Abstract: | In year 1998, the seminal study Research Innovation and Productivity: An Econometric Analysis at the Firm Level, commonly labeled CDM (the acronym of the three authors’ names, Crépon, Duguet and Mairesse), was published in this journal. The empirical framework, presented there, following on ideas in the research of Zvi Griliches at the NBER and is one of the most influential contributions in recent literature on economics of innovation. The original CDM paper and papers inspired by its framework have received hundreds of citations in the empirical innovation literature. Whether directly linked or not to the CDM framework, the flow of studies improving on and enlarging the scope and methods of the empirical literature on R&D, innovation and productivity is continuing. Some of them, for example, focus on financing innovation, or innovation and employment, or innovation and trade, or competition, or intellectual property; some adopt a managerial perspective, or an innovation system approach in a Schumpeterian tradition, etc. This introduction to the special issue of EINT surveys a collection of 12 papers on the CDM model by 25 authors from eight countries. The papers take stock of the evolution of research based on the original CDM model launched 20 years ago, linking it to the previous literature, and proposing developments and generalizations of it in various dimensions. |
| Keywords: | CDM; R&D; innovation; productivity; micro-econometrics |
| JEL: | C30 D24 O30 O31 O33 |
| Date: | 2016–06–15 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0442&r=ino |
| By: | Jiri Schwarz (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Czech National Bank, Na Prikope 28, 115 03 Prague 1, Czech Republic); Martin Stepanek (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic) |
| Abstract: | This paper utilizes a data set of over 208,000 U.S. patents applied for between 1975 and 2010 to study development of strategic patenting over time and across industries. With received citations as a measure of patent social value, we use data envelopment analysis to estimate firm-level relative importance of strategic versus protective patenting. Our novel identification strategy reveals there was an almost universal drop in patent social value in the second half of the 1990s, signaling a shift towards the strategic use of patents. But the development of patenting strategies continued even after 2000 with semiconductor companies increasing their focus on patent value relative to companies from other industries. On average, aerospace and software companies preferred the production of valuable patents, but patenting strategies can differ vastly even among companies operating within one industry. The results confirm our expectations regarding the focus of aerospace companies on socially valuable patents. |
| Keywords: | Patents, patent value, strategic patenting, intellectual property rights |
| JEL: | D23 K11 O32 O34 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:fau:wpaper:wp2016_08&r=ino |
| By: | Caiani, Alessandro; Russo, Alberto; Gallegati, Mauro |
| Abstract: | The paper builds upon the Agent Based-Stock Flow Consistent model presented in Caiani et al. (2015) to analyze the relationship between income and wealth inequality and economic development. For this sake, the original model has been amended under three main dimensions: first, the households sector has been subdivided into workmen, office workers, researchers, and executives which compete on segmented labor markets. Conversely, firms are now characterized by a hierarchical organization structure which determines, according to firms’ output levels, their demand for each type of workers. Second, in order to account for the impact of income and wealth distribution on consumption patterns, different households classes - also representing different income groups - have diversified average propensities to consume and save. Finally, the model now embeds technological change in an evolutionary flavor, affecting labor productivity evolution in the consumption sector through product innovation in the capital sector, where firms invest in R&D and produce differentiated vintages of machineries. The model is then calibrated using realistic values for both income and wealth distribution across different income groups, and their average propensities to consume. Results of the simulation experiments suggest that more progressive tax schemes and labor market policies aiming to increase low and middle workers’ coordination, and to support their wage levels, concur to foster economic development and to reduce inequality, though the latter seem to be more effective under both respects. The model thus provides some evidence in favor of a wage-led growth regime, where improvements of middle-low levels workers’ conditions create positive systemic effects, which eventually trickle up also to high income-profit earners households. |
| Keywords: | Innovation, Inequality, Agent Based Macroeconomics, Stock Flow Consistent Models. |
| JEL: | C63 D31 D33 E32 O33 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71864&r=ino |
| By: | Dirk Czarnitzki; Julie Delanote |
| Abstract: | This paper integrates innovation input and output effects of R&D subsidies into a modified Crépon–Duguet–Mairesse (CDM) model. Our results largely confirm insights of the input additionality literature, i.e. public subsidies complement private R&D investment. In addition, results point to positive output effects of both purely privately funded and subsidy–induced R&D. Furthermore, we do not find evidence of a premium or discount of subsidy–induced R&D in terms of its marginal contribution on new product sales when compared to purely privately financed R&D. |
| Keywords: | CDM model, R&D, subsidies, innovation policy |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ete:msiper:543966&r=ino |
| By: | Cirera,Xavier; Muzi,Silvia |
| Abstract: | Little is known about innovation in developing countries, partly because of the lack of comparable and reliable data. Collecting data on firm-level innovation is challenging because of the subjective definition of what determines an innovation, a problem that is exacerbated in developing countries where innovation is likely to be more incremental and less radical. This paper contributes to the literature by presenting the results of an experiment aiming to identify the survey instrument that better captures firm-level innovation in developing countries. The paper shows that a small set of questions included in a multi-topic, firm-level survey does not provide an accurate picture of firm-level innovation and tends to overestimate innovation rates. Issues related to framing explain some of the unreliability of innovation responses, while cognitive problems do not appear to play a significant role. |
| Date: | 2016–06–06 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7696&r=ino |
| By: | Kushlin, Valery Ivanovich (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Ustenko, V.S. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This paper analyzes the modern foreign practice to enhance research and innovation activities and to assess their applicability in the Russian context. Shown objectivity rise in the leading countries of the world work on the preparation of the new cycle of scientific and technological developments, despite the high uncertainty of the economic environment, and therefore the revealed changes in the forms of scientific innovation and industrial policy. Special attention is paid to the study of new approaches to the formation of innovative development of human potential in the United States, Germany, Britain, China and other countries. It is shown that in connection with the re-industrialization of the economy and trends roll on innovative modernization of the real production of special importance in the field of education and retraining (by, inter alia, the dual education) assumes the formation of the trainees and the natural sciences, especially, applied engineering and management skills. |
| Keywords: | innovations, science, modern conditions |
| Date: | 2016–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:2832&r=ino |
| By: | Mohammad Saleh Farazi (Department of Business Organization and Marketing, Universidad Pablo de Olavide); Ana Pérez-Luño (Department of Business Organization and Marketing, Universidad Pablo de Olavide); Shanthi Gopalakrishnan (School of Management, New Jersey Institute of Technology) |
| Abstract: | This study focuses on knowledge structuration and its strategic implications for new research-intensive firms. These firms mainly pursue growth strategies by leveraging their knowledge-based resources and capabilities in inter-organizational relationships, while they are typically constrained on other resources. Therefore, they need to strategically develop and structure their knowledge resources in a way that guarantees their survival and serves their future goals best. Taking biotechnology firms as our research setting, we first identify groups of firms with similar generic knowledge structuration, i.e. depth and breadth of knowledge possessed by the firm. Then, drawing from organizational learning theory and knowledge-based view, we discuss how strategically structuring the technological knowledge of the firm can affect the benefits it gains from collaborating with other organizations. We provide research propositions for different strategic groups and theoretically link knowledge structuration to both exploration and exploitation alliances. |
| Keywords: | Knowledge strategy, structuration, depth, breadth, alliance, biotechnology |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:pab:wpboam:16.01&r=ino |
| By: | Adam Marszk (Gdansk University of Technology, Gdansk, Poland); Ewa Lechman (Gdansk University of Technology, Gdansk, Poland); Harleen Kaur (Faculty of Management and Information Technology, Hamdard University, Hamdard, India) |
| Abstract: | Exchange traded funds (ETFs) are one of the most influential financial innovations, reshaping the investment funds market in many countries, including Mexico. Due to their similar investment objectives, ETFs are considered substitutes for mutual funds. This paper examines the changes of the investment funds (ETFs and mutual funds) in Mexico over 2002-2012 using a category of the innovation diffusion models, i.e. logistic growth models in order to explore the key development patterns. Descriptions of the selected categories of investment funds are provided in the first section of the article, together with the advantages of ETFs as opposed to mutual funds. Next section presents data sources and methodological framework, with detailed description of the innovation diffusion models applied in the research (based on 3-parametric logistic curve). Sum of assets under management of ETFs and mutual is considered as the size of the total investment funds market. Empirical findings indicate the significant development of the ETF market, both in terms of assets under management and market share. According to the presented estimations, Mexican ETF market development can be described with the logistic growth models, and three characteristic phases of the logistic curve were clearly observable. Predicted ETF market development patterns point towards further increase of market share of ETFs over the next 3-5 years yet the probability of exceeding the level of ca. 20-30% seems low |
| Keywords: | exchange traded funds, mutual funds, diffusion models, financial innovation, Mexico |
| JEL: | G11 G23 O16 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:gdk:wpaper:34&r=ino |
| By: | Giammario Impullitti; Omar Licandro |
| Abstract: | We study the welfare gains originating from pro-competitive effects of trade liberalization in an economy with heterogeneous firms, variable markups and endogenous growth. Variable markups arise from oligopoly trade in similar goods, and cost-reducing innovation is the engine of sustained productivity growth. Trade liberalization stiffens product market competition by reducing markups, generating tougher firm selection and increasing the aggregate productivity level. Market share reallocations triggered by selection increase firms’ incentives to innovate, thereby leading to a higher aggregate productivity growth rate. Endogenous productivity growth boosts the selection gains from trade, leading to substantial welfare improvements. A calibrated version of the model shows that growth doubles the gains from trade obtainable in models with static firm-level productivity. |
| Keywords: | Endogenous Growth, Heterogeneous Firms, Oligopoly, Variable Markups, Dynamic Gains from Trade. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:not:notgep:16/05&r=ino |
| By: | OECD |
| Abstract: | Peer-to-peer transactions have long played a role in commerce, but today's online platforms enable them on a much greater scale. Early examples include platforms for the sale of goods (e.g. online auction sites). Newer models include the rental of short-term accommodation and transport or mobility services. Sometimes described as the "sharing" economy or "collaborative consumption," this report refers to these innovative businesses as "peer platform markets." In addition to bringing benefits, peer platform markets raise new policy challenges, including consumer protection issues. As a general principle, consumer laws should be considered to apply to the basic offer of services to peers by peer platforms. It can be difficult, however, to apply existing laws to business models that blur the boundaries between consumers and businesses. What is the best approach to provide effective consumer protection while encouraging innovation? This report provides context for considering this and related questions. |
| Date: | 2016–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaab:253-en&r=ino |
| By: | Pardey, Philip G. |
| Keywords: | International Development, Research and Development/Tech Change/Emerging Technologies, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usao16:236817&r=ino |
| By: | Astebro , Thomas B; Hoos, Florian |
| Abstract: | We study the impact of a new nationally advertised six-month intensive training program to encourage leadership in social entrepreneurship among youth. Program costs were on the order of 12,000 euros per participant. We conduct a randomized field experiment where 50 applicants were randomly allocated to the program and 50 similar applicants were rejected. Despite large training efforts we find no robust treatment effects on leadership motivation, leadership style, social entrepreneurial aspirations and intentions, skills, sustainable behaviour, entrepreneurial actions and venture progression. Those that had made more progress on their venture prior to the start of the program were more likely to make progress afterwards, irrespective of treatment. There were also large Hawthorne effects. Those having the highest expectations before selection to treatment, as measured by their self-ratings on a battery of scores, experienced the biggest drop across all scores after selection, irrespective of treatment. Training people to become entrepreneurs seems to be difficult and costly. |
| Keywords: | social entrepreneurship; entrepreneurship; field experiment |
| JEL: | C93 L26 |
| Date: | 2016–01–13 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1128&r=ino |
| By: | Colombelli, Alessandra; Krafft, Jackie; Vivarelli, Marco (University of Turin) |
| Abstract: | This paper investigates the reasons why entry per se is not necessarily good and the evidence showing that innovative startups survive longer than their non-innovative counterparts. In this framework, our own empirical analysis shows that greater survival is achieved when startups engage successfully in both product innovation and process innovation, with a key role of the latter. Moreover, this study goes beyond a purely microeconomic perspective and discusses the key role of the environment within which innovative entries occur. What shown and discussed in this contribution strongly supports the proposal that the creation and survival of innovative start-ups should become one qualifying point of the economic policy agenda. |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:201602&r=ino |
| By: | Lowrey , Tina M; Kronrod , Ann |
| Abstract: | When developing new brand names, marketers face the dilemma of how similar their new brand name is or should be to familiar brand names in the market. The current research tests the complete range of conditions exploring how the degree of similarity of a new brand name to an existing one may affect attitudes toward the new brand name. The authors first replicate an inverted-U pattern suggested by congruency theories. However, this result holds only in the case of positive pre-existing attitudes toward familiar brand names. Additional tests demonstrate a U-shaped pattern in the case of negative attitudes toward familiar brand names, and a linear relation between similarity and attitudes in the case of no pre-existing attitudes toward familiar brand names. A field study replicates these findings, testing actual choice of products that bear different levels of resemblance to real positive and negative brand names (Oreo and Spam). |
| Keywords: | Brand name; Branding; Brand attitudes; Similarity; Familiarity; Innovation |
| Date: | 2016–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1121&r=ino |
| By: | Bramucci, Alessandro |
| Abstract: | This paper reviews the debate on the economic effect of the international fragmentation of production, also known as "offshoring", and provides a preliminary investigation of the impact of intermediate imported inputs on employment and wages in five European countries (Germany, Spain, France, Italy, the United Kingdom). Data are obtained from the Sectoral Innovation Database (SID) of the University of Urbino, a large database that merges statistical material from various sources (LFS; CIS; WIOD). The first part of this work provides a review of the empirical literature that discusses the economic effects of offshoring on domestic labor demand and wages. The second section of the paper presents offshoring trends and discusses the results of the econometric analysis. Results suggest that offshoring has a general negative impact on employment and wages although more careful examination reveals that high-tech offshoring has a positive effect on wages of medium- and high-skilled workers. |
| Keywords: | Offshoring,Innovation,Employment,Wages |
| JEL: | F1 F2 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:712016&r=ino |
| By: | Goerke, Björn; Albers, Sönke |
| Abstract: | Public agencies provide subsidies for small and medium sized businesses (SMEs) to foster their development in terms of employment and sales. Although input and output additionality have been researched intensively little is known about the actual long-term effects of subsidies on SME growth. Relying on a unique dataset of actual SMEs we provide a means of evaluating whether subsidies lead to the expected positive long-term effects. We apply a specifically designed 3-stage-effects-model (3SEM) from the input of resources to the final outcome. The results imply that the effects of subsidies differ across types: While R&D grants unfold enduring positive effects other subsidies like corporate matchmaking might even harm companies. |
| Keywords: | subsidies,additionality,innovation |
| JEL: | L2 H2 O3 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:142164&r=ino |
| By: | Jaffe, Adam B. |
| Keywords: | Agricultural and Food Policy, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare16:235337&r=ino |
| By: | Miniaoui, Hela; Schilirò, Daniele |
| Abstract: | The region of Gulf Arab states has vast reserves of petroleum that make it a vital source of the global economy. The reduction in oil prices and, in general, their high volatility pose strong challenges to the GCC economies. In the present contribution we argue that innovation and entrepreneurship can be the main drivers to diversify and develop the GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE). In fact, in the long-run, diversified economies perform better than mono-sector economies. Moreover, innovation and entrepreneurship are key factors that trigger economic development and contribute to the degree of competitiveness, playing also an important stakeholder role in boosting the overall economic growth rates. Therefore, having an entrepreneurial and innovative capacity is very important in order to facilitate competitiveness and growth in a region such as that of GCC countries. More specifically, in this article we analyze the innovation environment in the GCC countries and their innovation performance. Also we consider the innovation policies, underlining the important role of institutions for innovation. To support our analysis, we take into account of several data and information sources, and surveys. In addition, we provide an overview on entrepreneurship in the GCC countries and grasp the current state of entrepreneurship in these countries. We also aim to identify the conditions to stimulate entrepreneurship and qualify the human capital in order to diversify and develop the non-oil private sector and improve the competitiveness of the GCC economies. |
| Keywords: | Innovation; Entrepreneurship; Diversification; Competitiveness; Growth; GCC countries |
| JEL: | L10 L26 M13 O31 O38 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71898&r=ino |
| By: | OECD |
| Abstract: | Building on our 2015 report Urban Mobility System Upgrade: How Shared Self-driving Cars Could Change City Traffic, this study models the impact of replacing all car and bus trips in a city with mobility provided through fleets of shared vehicles. The simulation is, again, based on real mobility and network data from a mid-size European city, namely Lisbon, Portugal. |
| Date: | 2016–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaac:21-en&r=ino |
| By: | Jörn Block; Lars Hornuf; Alexandra Moritz |
| Abstract: | Start-ups often post updates during equity crowdfunding campaigns. Yet, little is known about the effects of such updates on funding success. We investigate this question by using handcollected data from 71 funding campaigns on two German equity crowdfunding portals. Using a combination of qualitative and quantitative empirical research techniques, we find that posting an update has a significant positive effect on the number of investments by the crowd and the investment amount collected by the start-up. This effect does not occur immediately in its entirety; rather, it is lagged by a few days. The positive effect increases with the number of words of the update. Distinguishing by the content of the update, we find that the positive effect can be attributed to updates on new funding and business developments and updates on promotional campaigns run by the start-up. Updates on the start-up team, business model, cooperation projects, and product developments do not have meaningful effects. Our paper contributes to the literature on the effects of information disclosure on equity crowdfunding success and offers potential guidance for startups in designing effective and successful equity crowdfunding campaigns. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:trr:wpaper:201606&r=ino |
| By: | Permani, Risti; Umberger, Wendy |
| Keywords: | Agricultural and Food Policy, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare16:235500&r=ino |
| By: | Astebro , Thomas B; Yong, Kevyn |
| Abstract: | This on-line appendix contains more details on the sampling process, more details on the sample, a comparison to a matched sample of Canadians, more technical details on various measures and procedures, and further robustness analysis. |
| Keywords: | Creativity; Prior Employment Variety; Jack-of-all-Trades; Invention Quality |
| JEL: | L26 |
| Date: | 2015–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1130&r=ino |
| By: | Giovanni Dosi; Marco Grazzi; Nanditha Mathew |
| Abstract: | "Learning-by-doing" is usually identified as a process whereby performance increases with experience in production. The paper investigates different patterns of "learning by doing", studying learning curves at product level. Cost-quantity relationships differ a lot across products belonging to sectors with different "technological intensities". Moreover, such differential patterns are affected by firm spending on research and capital investments. Finally, our evidence suggests that "learning", or performance improvement over time is not a by-product of the mere repetition of the same production activities, as sometimes reported in previous studies, but rather it seems to be shaped by deliberate firm learning efforts and by the interactions among firms themselves. |
| Keywords: | Learning-by-doing, learning curves, power law, product innovation, process innovation |
| Date: | 2016–06–16 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2016/26&r=ino |
| By: | Anna Matas (Universitat Autònoma de Barcelona & Barcelona Institute of Economics (IEB)); José-Luis Raymond (Universitat Autònoma de Barcelona); Andrés Domínguez (Universitat de Barcelona) |
| Abstract: | This paper estimates the role that technological change and car characteristics have played in the rate of fuel consumption of vehicles over time. Using data from the Spanish car market from 1988 to 2013, we estimate a reduced form equation that relates fuel consumption with a set of car characteristics. The results for the sales-weighted sample of vehicles show that energy efficiency would have improved by 32% and 40% for petrol and diesel cars respectively had car characteristics been held constant at 1988 values. However, the shift to bigger and more fuel-consuming cars reduced the gains from technological progress. Additionally, using the results of the fuel equation we show that, besides a natural growth rate of 1.1%, technological progress is affected by both the international price of oil and the adoption of mandatory emission standards. Moreover, according to our estimations, a 1% growth in GDP would modify car characteristics in such a way that fuel consumption would increase by around 0.23% for petrol cars and 0.35% for diesel cars. |
| Keywords: | fuel efficiency, technological change, car characteristics |
| JEL: | L62 Q50 R4 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ieb:wpaper:doc2016-15&r=ino |