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on Innovation |
| By: | Spyros Arvanitis (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Florian Seliger (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Martin Wörter (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | We propose a new patent-based measure of knowledge spillovers that calculates technological proximity based on firms that were identified via patent backward citations links. We argue that this measure has a couple of advantages as compared to the 'standard' measure proposed by Jaffe: First, it reflects spillovers from both domestic and foreign technologically 'relevant' firms, second, it is more precise because it only takes into account knowledge relations with technologically 'relevant' firms. Our empirical results indeed show that the measure performs better than the standard measure in an innovation model. We find - for a representative sample of Swiss firms - that knowledge spillovers measured in this way have a positive and significant impact on innovation success. However, the knowledge spillovers appear to be localized: Spillovers from geographically distant areas such as the USA and Japan matter less than spillovers from near destinations such as Europe and particularly Switzerland itself. Moreover, the spillover effect on innovation performance decreases with increasing number of competitors on the main product market so that this effect would appear only in niche markets or oligopolistic market structures. However, an additional effect of competition can only be detected for more radical innovation success. |
| Keywords: | Knowledge Spillovers, Innovation Success, Knowledge Capital, Patent Citations, Competition |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:16-414&r=ino |
| By: | Simeth, Markus (Universidad Carlos III de Madrid (UC3M)); Mohammadi, Ali (Royal Institute of Technology (KTH), Centre of Excellence for Science and Innovation Studies (CESIS) & Swedish House of finance) |
| Abstract: | Prior research shows that firms can increase their innovation performance by leveraging external sources of knowledge. However, insights related to potential drawbacks of open collaborative approaches for innovation remain scarce. In this paper, we investigate the relationship between R&D collaboration and the departure of skilled employees. Highly qualified scientists and engineers who interact with external partners in the context of R&D collaborations may increase their outside options, resulting in higher rates of employee mobility to other firms and employee entrepreneurship. We analyze our research question using data from the Swedish edition of the Community Innovation (CIS) survey combined with employer-employee register data. Our econometric analysis suggests that a stronger use of research collaborations by firms leads to an increasing number of employee departures. Moreover, we detect heterogeneity for this relationship with respect to the types of employee exits and different collaboration partners. |
| Keywords: | R&D employees; Open Innovation; R&D Collaboration; Employee mobility; Employee Entrepreneurship |
| JEL: | J62 O32 |
| Date: | 2017–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0449&r=ino |
| By: | Nagler, Markus; Watzinger, Martin; Fackler, Thomas; Schnitzer, Monika |
| Abstract: | How large is the impact of intellectual property on cumulative innovation in electronics, computers and communications? Following an antitrust lawsuit against Western Electric and AT&T, Bell Labs had to license all patents published by 1956 for free. We find that this removal of patent rights increased subsequent citations to Bell’s patents by 7%. Patenting in affected patent subclasses increased by 17%. The effect comes from young and small firms in fields in which Bell did not remain commercially active. Placebo regressions support the identification assumption of parallel trends in citations. |
| JEL: | O31 O33 L43 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc16:145580&r=ino |
| By: | Suzuki, Keishun |
| Abstract: | This study revisits the relationship between competition and innovation by incorporating an endogenous market structure (EMS) in a dynamic general equilibrium model. We consider that both innovative and non-innovative followers engage in Cournot competition with free entry. A competition-enhancing policy, which reduces entry cost, can stimulate the entry of innovative followers when the entry cost is high. However, when the entry cost is sufficiently low, the entry of non-innovative followers crowd-out innovative followers from the market. As a result, there is a non-monotonic relationship (inverted-V shape) between competition and innovation. Furthermore, we show that, while strengthening patent protection positively affects innovation when competition is sufficiently intense, the effect may be negative under milder competition. This suggests that a competition policy could complement a patent policy. |
| Keywords: | Competition, Patent Protection, Innovation, Endogenous Market Structure |
| JEL: | O30 O40 |
| Date: | 2017–02–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:77133&r=ino |
| By: | Lindholm-Dahlstrand, Åsa (CIRCLE); Andersson, Martin (Department of Industrial Economics); Carlsson, Bo (Department of Economics) |
| Abstract: | There is a need for a conceptual approach that, with reference to explicit micro-level mechanisms and processes of industrial dynamics, articulates the role and function of entrepreneurial experimentation in innovation systems. This paper develops the concept of ‘entrepreneurial systems of innovation’ to address this gap in the literature. We argue that entrepreneurial experimentation comprises both ‘technical’ and ‘market’ experimentation, and that entrepreneurship must be conceptualized in terms of its function in innovation systems rather than as an outcome. At the systems level, the central function of entrepreneurial experimentation is to foster creation, selection and scaling-up of innovations. Spinoffs and acquisitions are proposed as examples of micro-mechanisms that give rise to system-wide entrepreneurial experimentation. Interaction between established organizations and new innovative entrants, through spinoffs and acquisitions, is an important characteristic of vibrant entrepreneurial systems of innovation. |
| Keywords: | Entrepreneurship; Experimentation; Innovation systems; New technology-based firms; Entrepreneurial systems of innovation; Scaling up; Growth |
| JEL: | L22 L26 O31 O33 |
| Date: | 2017–02–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1154&r=ino |
| By: | Cristian Barra (Università di Salerno); Ornella Wanda Maietta (Università di Napoli Federico II and CSEF); Roberto Zotti (Università di Salerno) |
| Abstract: | This paper aims to study the drivers of innovation and of university-industry collaboration in the European manufacturing sector, specifically focusing on the extent to which academic excellence may enhance the capacity of firms to develop new products and processes. It shows that academic research has an important direct impact on the firm’s propensity to develop innovation, apart from the indirect effect of academic excellence on partner choice in university-industry R&D collaboration. The results also suggest that the research at lower tier universities has an impact on business innovation and that there is a strong case in favour of public funding also to less prestigious academic institutions. |
| Keywords: | University–industry interaction; R&D collaboration; Product and process innovation; Academic research quality; University education |
| JEL: | O3 I23 D22 R1 |
| Date: | 2017–02–25 |
| URL: | http://d.repec.org/n?u=RePEc:sef:csefwp:468&r=ino |
| By: | Florian Seliger (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | This paper studies determinants of knowledge flows as measured with patent forward citations that occur between 'input' and 'output sector-countries'. We look at the impact of absorptive capacity of a focal sector-country, knowledge spillovers and technological distance between sector-countries on further knowledge flows. For this purpose, we develop a knowledge flow matrix similar to input-output tables in trade where patent citations capture knowledge flows that go from the input sector-country to the output sector-country. We estimate a gravity model with variables that capture technological distance and knowledge that comes from either inside the input output pair or from external spillover sources. Our results indicate that knowledge accumulated in the output sector-country and - in some cases - external spillovers are key in generating further knowledge flows that go to the output sector-country. A distinction between high-tech and low-tech sector-countries shows that spillovers are more useful for the generation of knowledge flows if the input sector-country is low-tech. Low-tech sector-countries benefit from both high-tech knowledge from the output sector-country and external knowledge from the technological frontier. In contrast, knowledge flows based on high-tech sector-countries cannot benefit from low-tech sector-countries and only to a very limited extent from other high-tech sources. Technological distance between sector-countries has a negative impact on further knowledge flows so that only technologically proximate sector-countries are more likely to generate knowledge flows. |
| Keywords: | Knowledge flows, Patent citations, Spillovers, Absorptive capacity, Gravity model |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:16-415&r=ino |
| By: | Spyros Arvanitis (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Michael Peneder (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Christian Rammer (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Tobias Stucki (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Martin Wörter (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | Based on representative firm-level survey data for the three countries Austria, Germany, and Switzerland, we investigate the effects of regulation, energy taxes, voluntary agreements, and subsidies, on the creation of green product innovations. Our data set allows us to distinguish between the supply-side effects (cost effects) and the demand-side effects of policy measures, which improves our understanding of the frequently observed positive net effect of policies. Controlling for the demand effect, taxes and regulations are negatively related with product innovations. Hence, if taxes and regulation do not trigger additional demand, they decrease the propensity to innovate. These effects are ameliorated for technologically very advanced firms and for firms with a high level of financial awareness. Subsidies and (partly) voluntary agreements are positively related with product innovations. |
| Keywords: | Innovation, Policy, Demand |
| Date: | 2016–11 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:16-417&r=ino |
| By: | Andrin Spescha (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Martin Wörter (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | This paper investigates how the macroeconomic business cycle impacts the empirical relation between firms’ innovations and their sales growth rates. Based on firm-level panel data over the time period 1995-2014, the paper finds no visible sales growth differentials between firms in booming economic environments. In the economically difficult times of recessions, by contrast, innovative firms show significantly higher sales growth rates than non-innovative firms. This finding is in line with Schumpeter’s (1939) business cycle theory, where recessions play an important role in the adaptation of the economy towards innovative products and processes. Moreover, the paper shows that small innovative firms, profiting from their higher organizational flexibility and stronger entrepreneurial commitment, are the main beneficiaries in this adaption process. |
| Keywords: | Innovation, Firm growth, Business cycle, Firm size |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:16-413&r=ino |
| By: | Spyros Arvanitis (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Michael Peneder (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Christian Rammer (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Tobias Stucki (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Martin Wörter (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | The present study investigates the effects of energy-related technologies on economic performance at firm level. We distinguish clearly between adoption and use of energy-related technologies (process innovation in the broad sense) and product innovation in energy-related fields. We take into consideration four energy-related policy instruments (and expected demand for energy-related new products and services). We investigate the possibility of indirect effects of policy on performance via adoption or innovation by interacting adoption and innovation variables with policy instrument dummies. We test our hypotheses not only for the pooled data but also separately for the three countries (Austria, Germany, Switzerland) that are taken into consideration in this study. We find a positive direct effect of investment expenditures for energy-related technologies on labour productivity and a positive indirect effect of energy taxes via investment in energy-related technologies. We find neither direct nor indirect effects of product innovation in energy-related products on labour productivity. No differences among the three countries could be detected. |
| Keywords: | Use of energy-related technologies, Energy-related innovation, Policy instruments, Productivity |
| Date: | 2016–11 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:16-419&r=ino |
| By: | Demir, Caner |
| Abstract: | The study investigates whether raising technology transfer and strengthening the intellectual property rights (IPR) regime trigger domestic innovation by employing a panel data analysis for 58 developed and developing countries in the 1960-2010 period. Since theoretical and empirical literature has proved that innovation and technology were the prominent drivers of development process, analyzing the determinants of these factors have become crucial. Due to the globalization process, knowledge spreads faster than any other social and economic indicators; which makes the interactions between the types of knowledge more important. Thus, the study analyzes the impacts of foreign patents (as a proxy for technology transfer) and IPR on domestic innovation. According to the empirical analysis, it is found that technology transfer triggers domestic innovation both in developed and developing world. Contrary, it is also found that intellectual property protection is a detrimental factor for domestic innovation in mid income group while it bears fruit in high income group. |
| Keywords: | Innovation, technology transfer, intellectual property rights, patents. |
| JEL: | O31 O34 |
| Date: | 2016–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76693&r=ino |
| By: | Mand, Matthias |
| Abstract: | While an opportunity cost argument suggests that recessions are ideal times to undergo R&D aimed at enhancing productivity, empirical measures of U.S. R&Dactivity are procyclical. To resolve this discrepancy, I propose a calibrated real business cycle model featuring R&D-based growth through horizontal innovations. The model is used to quantitatively analyze the impact of business cycle shocks under various specifications of the R&D process. I find that the specification of R&D inputs is essential for the cyclicality of R&D activities. First, the popular knowledge-driven specification of R&D has a hard time to generate both procyclical R&D investment and procyclical R&D labor at the same time. Second, the calibrated multi-input specification generates procyclical R&D investment as well as procyclical employment of scientists. In addition, the endogenous growth mechanism gives rise to amplification of business cycle shocks. |
| JEL: | E32 O31 O33 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc16:145472&r=ino |
| By: | Prüfer, Jens (Tilburg University, TILEC); Schottmuller, C. (Tilburg University, TILEC) |
| Abstract: | This paper studies competition in data-driven markets, that is, markets where the cost of quality production is decreasing in the amount of machine-generated data about user preferences or characteristics, which is an inseparable byproduct of using services offered in such markets. This gives rise to data-driven indirect network effects. We construct a dynamic model of R&D competition, where duopolists repeatedly determine their innovation investments, and show that such markets tip under very mild conditions, moving towards monopoly. In a tipped market, innovation incentives both for the dominant firm and for competitors are small. We also show under which conditions a dominant firm in one market can leverage its position to a connected market, thereby initiating a domino effect. We show that market tipping can be avoided if competitors share their user information. |
| Keywords: | big data; datafication; data-driven indirect network effects; dynamic competition; regulation |
| JEL: | D43 D92 L13 L43 L86 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutil:29de4480-00db-473b-a0ee-b387e748c5a4&r=ino |
| By: | Borissenko, Janna (CIRCLE, Lund University); Boschma, Ron (CIRCLE, Lund University) |
| Abstract: | The Entrepreneurial Ecosystem (EE) literature has attracted much attention, especially in policy circles. However, the concept suffers from a number of shortcomings: (1) it lacks a clear analytical framework that makes explicit what is cause and what is effect in an entrepreneurial ecosystem; (2) while being a systemic concept, the EE has not yet fully exploited insights from network theory, and it is not always clear in what way the proposed elements are connected in an entrepreneurial ecosystem; (3) it remains a challenge what institutions (and at what spatial scale) impact on the structure and performance of EE; (4) studies have often focused on the EE in single regions or clusters, but lack a comparative and multi-scalar perspective; (5) the EE literature tends to provide a static framework taking a snapshot of EE without considering systematically their evolution over time. For each of these shortcomings, we make a number of suggestions to take up in future research on EE. |
| Keywords: | Entrepreneurial ecosystem; Entrepreneurial system; Networks; Entrepreneurship; Clusters |
| JEL: | L26 M21 O33 |
| Date: | 2017–02–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2017_003&r=ino |
| By: | Ainhoa Arrona (Orkestra - Basque Institute of Competitiveness) |
| Abstract: | There are an increasing number of critical voices within the innovation community who are raising questions around the relevance of innovation policy research to innovation policy practice. With the aim of contributing to a more relevant regional innovation policy research, this paper, builds on reflections along these lines presented by Morlacchi and Martin (2009), followed by Uyarra, Flanagan and Laranja (Flanagan & Uyarra, 2016; Flanagan, Uyarra, & Laranja, 2011), as well as issues raised and developed by action research scholars in general and the ‘action research for territorial development’ approach (Karlsen & Larrea, 2014a) in particular. Specifically, based on the idea that a greater diversity of approaches to policy analysis would benefit innovation studies, the paper argues for incorporating ideas developed by interpretive policy analysis scholars. The paper presents concepts and approaches that in our opinion require further exploration or strengthening, including the practice perspective, ‘ordering devices’, collaborative or dialogical approaches to policy analysis and constructivist approaches to policy learning. |
| Date: | 2017–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:ivc:wpaper:2017r01&r=ino |
| By: | Voeten, Jaap (Tilburg University, School of Economics and Management); van Uden, A. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:d7fbab15-db32-4d08-955a-c24615e81351&r=ino |
| By: | Zaby, Alexandra Karin; de Rassenfosse, Gaétan |
| Abstract: | Patent offices around the world face massive backlogs of applications, which threatens to slow down the pace of technological progress. However, economists lack analytical tools to address the issue. This paper provides a model of patent backlog inspired from the traffic congestion literature. Inventors in the cohort are heterogeneous with respect to desired patent pendency duration and react in anticipation of the waiting time resulting from the backlog. They can accelerate or slow down pendency duration by adapting their filing strategy. We find that the backlog impedes patent examination progress by providing incentives to strategically manipulate pendency. We discuss four policy responses: increasing examination capacity; introducing a penalty fee; altering the value of pending applications; and allowing deferred examination. |
| JEL: | O34 R48 O38 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc16:145673&r=ino |
| By: | Voeten, Jaap (Tilburg University, School of Economics and Management) |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:546e320e-0ad5-4306-8de1-5f0dc454359e&r=ino |
| By: | Elert, Niklas (Research Institute of Industrial Economics (IFN)); Henrekson, Magnus (Research Institute of Industrial Economics (IFN)) |
| Abstract: | The interplay between entrepreneurship and institutions is crucial for economic development; however, the view that institutions determine the extent to which entrepreneurial activity is productive is only part of the story. We argue that causality is bidirectional, in that entrepreneurship is also, for better or for worse, one of the main drivers of institutional change. Through their actions, entrepreneurs have a fundamental influence on institutions, whether they abide by them, actively try to alter them, or evade them. Particular attention is given to evasive entrepreneurship, an entrepreneurial function which, until recently, has been an underappreciated and poorly understood source of innovation and institutional change. We argue that the influence of evasive entrepreneurship on the economic trajectories of societies is likely to only grow in the future. |
| Keywords: | Economic development; Entrepreneurship; Evasive entrepreneurship; Innovation; Institutional change; Regulation |
| JEL: | L50 M13 O31 P14 |
| Date: | 2017–02–16 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1153&r=ino |
| By: | Dolata, Ulrich |
| Abstract: | Based on a systematic review and evaluation of business reports, documents, statistics, literature and press releases, this paper analyzes the market concentration and the expansion and innovation strategies of the leading internet companies Google, Facebook, Apple, Amazon and Microsoft. The findings invalidate any claims that a decentralization of the market and a democratization of the internet is taking place, or that research, development and innovation processes are becoming more open and collaborative. The five examined companies, as the operators of the core infrastructures of the worldwide web, shape the overall products and services offer of the internet, determine access to the web, structure the communication possibilities for users, and are the main drivers of innovation in this field. Not decentralization, democratization and open innovation, but market concentration, control and power struggles are categories to adequately describe the fundamental dynamics of the commercial internet. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:stusoi:201701&r=ino |
| By: | Voeten, Jaap (Tilburg University, School of Economics and Management); Barasa, L. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:ea4f5ac0-9de5-4ce9-a6aa-71b155705480&r=ino |
| By: | BLAKELEY, Katherine |
| Abstract: | Department of Defense concerns over an eroding technological and capabilityadvantage have spurred the development of the Third Offset Strategy to focus investments on areas of greatest US competitive advantage. However, flat defense budgets and rising operations and maintenance costs will continue to constrain procurement and research, development, test, and evaluation (RDT&E) spending within the US defense budget over the near and medium term. Later-stage RDT&E for the technological maturation of weapons systems and platforms in development will be more impacted. This brief outlines US defense budgetary trends for the overall defense budget and for RDT&E spending, highlights areas of particularrisk, and describes the potential impacts on US defense technological innovation. |
| Keywords: | Social and Behavioral Sciences, United States, defense budgets, defense R&D, Third Offset Strategy, military technology |
| Date: | 2017–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:globco:qt5f30512q&r=ino |
| By: | Antoine Dechezleprêtre; Yann Ménière; Myra Mohnen |
| Abstract: | This paper provides an in-depth analysis of the characteristics of international patent families, including their domestic component. The authors exploit a relatively under-studied feature of patent families, namely the number of patents covering the same invention within a given jurisdiction. Using this information, they highlight common patterns in the structure of international patent families, which reflect both the patenting strategies of innovators and the peculiarities of the different patent systems. While the literature has extensively used family size – i.e. the number of countries in which a given invention is protected – as a measure of patent value, the authors’ results suggest that the number of patent filings in the priority country within a patent family, as well as the time span between the first and last filings within a family, are other insightful indicators of the value of patented innovations. |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:lsg:lsgwps:wp264&r=ino |
| By: | Raphaël Franck; Oded Galor |
| Abstract: | The research explores the effect of industrialization on human capital formation. Exploiting exogenous regional variations in the adoption of steam engines across France, the study establishes that, in contrast to conventional wisdom that views early industrialization as a predominantly deskilling process, the industrial revolution was conducive for human capital formation, generating wide-ranging gains in literacy rates and educational attainment. |
| JEL: | N33 N34 O14 O33 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:23197&r=ino |
| By: | Voeten, Jaap (Tilburg University, School of Economics and Management); Bos, Marijke (Tilburg University, School of Economics and Management); Vannoorenberghe, Gonzague (Tilburg University, School of Economics and Management) |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:d69d1e73-4630-4882-8403-edf081cc9dd6&r=ino |
| By: | Marco Grazzi; Nanditha Mathew; Daniele Moschella |
| Abstract: | This paper investigates the determinants of export behavior among Indian manufacturing firms, focusing in particular on the role of technology, cost and imported intermediate inputs. Our evidence suggests that innovation, in particular R&D, positively affects both firmsù probability to export and firmsù export volumes. We also find that imported intermediate inputs, incorporating foreign technology, play an important role in expanding export activities of firms. On the other hand, we find that higher productivity or lower unit labour costs are not systematically associated with the probability to enter export market, but they do positively affect export volumes. |
| Keywords: | Export behavior, Innovation, Imported Inputs, Trade policy, India |
| Date: | 2017–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2017/09&r=ino |
| By: | Horst Hanusch; Lekha S. Chakraborty; Swati Khurana |
| Abstract: | This paper analyzes the effectiveness of public expenditures on economic growth within the analytical framework of comprehensive Neo-Schumpeterian economics. Using a fixed-effects model for G20 countries, the paper investigates the links between the specific categories of public expenditures and economic growth, captured in human capital formation, defense, infrastructure development, and technological innovation. The results reveal that the impact of innovation-related spending on economic growth is much higher than that of the other macro variables. Data for the study was drawn from the International Monetary Fund's Government Finance Statistics database, infrastructure reports for the G20 countries, and the World Development Indicators issued by the World Bank. |
| Keywords: | Fiscal Policy; Public Expenditure; Defense; Innovation; Growth; Neo-Schumpeterian Economics |
| JEL: | H5 O30 O38 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:lev:wrkpap:wp_883&r=ino |
| By: | Juana Sanchez; Sydney Noelle Kahmann |
| Abstract: | Multiple imputation in business establishment surveys like BRDIS, an annual business survey in which some companies are sampled every year or multiple years, may enhance the estimates of total R&D in addition to helping researchers estimate models with subpopulations of small sample size. Considering a panel of BRDIS companies throughout the years 2008 to 2013 linked to LBD data, this paper uses the conclusions obtained with missing data visualization and other explorations to come up with a strategy to conduct multiple imputation appropriate to address the item nonresponse in R&D expenditures. Because survey design characteristics are behind much of the item and unit nonresponse, multiple imputation of missing data in BRDIS changes the estimates of total R&D significantly and alters the conclusions reached by models of the determinants of R&D investment obtained with complete case analysis. |
| Keywords: | Multiple Imputation, R&D, attrition, unit nonresponse, item nonresponse, MICE, Stata MI, visualization, BRDIS, LBD |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:17-13&r=ino |
| By: | Pop, Izabela Luiza; Borza, Anca |
| Abstract: | In an economic environment characterised by permanent and rapid technological evolution, successful organisations are the ones that are able to adapt their processes and activities to change. This article starts from the assumption that museums can use various modern technologies in order to raise their market competitiveness. Technological innovation allows museums to become more attractive and fulfil their functions better while also using their resources more efficiently. The first part of this paper presents a series of technological innovations specific to museums and the way in which these innovations can lead to an increased museum performance. The study case in the second part of the paper presents the results of an analysis of the technologies used by the museums in Baia Mare in comparison with other Romanian museums. The improvement solutions proposed based on this analysis can prove useful not just for the museums studied, but also for other museums in similar situations. Another, indirect, purpose of this research is to help raise the tourist attractiveness of Baia Mare by bettering the competitiveness of its museums. |
| Keywords: | innovation; technology; museums; competitive advantage; strategy; development |
| JEL: | M00 O32 |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76811&r=ino |
| By: | Janine Aron |
| Abstract: | Mobile money is a recent financial innovation giving financial transaction services via a mobile phone, including to the unbanked global poor. Mobile money technology has spread rapidly in the developing world, “leapfrogging” the provision of formal banking services by solving the problems of weak institutional infrastructure and the cost structure of conventional banking. This survey examines the evolution of mobile money, its important role in widening financial inclusion, and the impact of regulation on the development of mobile money systems. It explores the channels of economic influence of mobile money from both a micro and a macro perspective, and presents the first critical survey of the current state of micro and macro empirical literature on the economic impact of mobile money. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:csa:wpaper:2017-02&r=ino |
| By: | Spyros Arvanitis (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Michael Peneder (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Christian Rammer (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Tobias Stucki (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Martin Wörter (KOF Swiss Economic Institute, ETH Zurich, Switzerland) |
| Abstract: | For a large sample of enterprises in Germany, Austria and Switzerland (the “DACH“ region) we study the impact of various policy instruments, such as energy related taxes, subsidies, regulations and standards or negotiated agreements on the firm’s ecological and economic performance. To identify the causal linkages, we build a system of twelve equations, tracking first the impacts of policy on the adoption of green energy technologies for distinct areas. In a second set of equations, we estimate the perceived impacts of adoption on the firm’s (i) energy efficiency, (ii) carbon emissions and (iii) competitiveness. The results confirm a differentiated pattern of channels for policy to affect the firm’s energy efficiency and carbon emissions, while having a neutral impact on its competitiveness. |
| Keywords: | Environmental policy, Energy policy, Technology adoption, Innovation, Porter hypothesis |
| Date: | 2016–11 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:16-420&r=ino |
| By: | Diego d'Andria (European Commission - JRC) |
| Abstract: | We study a market with entrepreneurial and workers entry where both entrepreneurs' abilities and workers' qualities are private information. We develop an Agent-Based Computable model to mimic the mechanisms described in a previous analytical model (Boadway and Sato 2011). Then, we introduce the possibility that agents may learn over time about abilities and qualities of other agents, by means of Bayesian inference over informative signals. We show how such different set of assumptions affects the optimality of second-best tax and subsidy policies. While with no information it is optimal to have a subsidy to labour and a simultaneous tax on entrepreneurs to curb excessive entry, with learning a subsidy-only policy can be optimal as the detrimental effects of excessive entrepreneurial entry are (partly or totally) compensated by surplus-increasing faster learning. |
| Keywords: | Entrepreneurship, Taxation, Asymmetric Information, Learning, Adverse Selection, Agent-Based Computational Model |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:taxref:201701&r=ino |
| By: | Kemp-Benedict, Eric |
| Abstract: | This paper presents a theory of biased technological change in which firms pursue a random, local, search for productivity-enhancing innovations. They implement profitable innovations at fixed prices, subsequently adjusting prices and wages. Factor productivity growth rates are shown to respond positively to factor cost shares. Combined with price-setting behavior, an equilibrium is characterized by constant cost shares and productivity growth rates. Under target-return pricing, capital productivity growth is zero at equilibrium, yielding Kaldor’s “stylized facts” of constant capital productivity and rate of profit. Equilibrium can be disturbed by changes in the pricing regime or technological potential for productivity improvement. |
| Keywords: | post-Keynesian; biased technological change; induced technological change |
| JEL: | E12 E14 O33 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76803&r=ino |
| By: | Gaetano Lisi (Centro di Analisi Economica CREAtività e Motivazioni) |
| Abstract: | Housing costs can damage labour market outcomes and increase unemployment. Also, an important and related research stream claims that higher homeownership rates are associated with fewer new businesses. Using a search-matching model, this paper investigates the relation between homeownership and entrepreneurship by distinguishing two channels through which homeownership affects the creation of enterprises and jobs. The first channel looks at the job search intensity of homeowners, while the second considers the link between the benefit of being a homeowner and the productivity of a new enterprise. The key result of this paper is that the intrinsic preference for homeownership plays a key role in the establishment of new small businesses, while in general homeownership does not encourage the development of existing enterprises. |
| Keywords: | entrepreneurship; homeownership; job creation; new firms; small businesses. |
| JEL: | J63 J64 R21 M13 L26 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:ivi:wpasad:2017-01&r=ino |
| By: | Ana Fostel (Dept. of Economics, George Washington University); John Geanakoplos (Cowles Foundation, Yale University); Gregory Phelan (Department of Economics, Williams College) |
| Abstract: | We show that cross-border financial flows arise when countries differ in their abilities to use assets as collateral. Financial integration is a way of sharing scarce collateral. The ability of one country to leverage and tranche assets provides attractive financial contracts to investors in the other country, and general equilibrium effects on prices create opportunities for investors in the financially advanced country to invest abroad. Foreign demand for collateral and for collateral-backed financial promises increases the collateral value of domestic assets, and cheap foreign assets provide attractive returns to investors who do not demand collateral to issue promises. Gross global flows respond dynamically to fundamentals, exporting and amplifying financial volatility. |
| Keywords: | Collateral, Financial innovation, Asset prices, Capital flows, Securitized markets, Asset-backed securities, Global imbalances |
| JEL: | D52 D53 E32 E44 F34 F36 G01 G11 G12 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:cwl:cwldpp:2076&r=ino |