|
on Innovation |
| By: | Fernando Hervas Soriano (JRC-IPTS); Joerg Zimmermann (JRC-IPTS) |
| Abstract: | This report presents the findings of the seventh survey on trends in business R&D investment. These are based on 187 responses of mainly larger companies from the 1000 EU-based companies in the 2011 EU Industrial R&D Investment Scoreboard. These 187 companies are responsible for R&D investment worth almost €56 billion, constituting around 40% of the total R&D investment by the 1000 EU Scoreboard companies. The main result is that these top R&D investing companies expect their global R&D investments to grow by 4% annually from 2012 to 2014. The average share of sales coming from new innovative products and services was 18%, varying from 33% in high R&D intensity sectors to 10% in low R&D intensity ones. The differences between the sectors were not in all cases related to R&D intensity or net sales of the companies but rather seemed to reflect different sectoral innovation cycles. Collaboration agreements are considered a more important form of knowledge sharing activities than licencing (except for high R&D intensity sectors), which could be a sign of the increasing importance of open innovation. For the impact of factors and policies on the company’s innovation activities, national public support had the most positive effect, followed by availability of qualified personnel and EU public support. As in previous surveys, labour costs and conditions of IPR (enforcement, time and costs) continued to be perceived as negative factors for company innovations. This reveals the importance of fostering an efficient IPR regime for companies’ innovation activities. |
| Keywords: | Industrial Economics, Corporate R&D and innovation; productivity; business trends; technological innovation; intangible assets; competitiveness; growth and employment; company growth; Europe 2020 strategy. |
| Date: | 2012–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc72991&r=ino |
| By: | Daria Ciriaci (Inter-American Development Bank); Fernando Hervas Soriano (JRC-IPTS) |
| Abstract: | This Policy Brief presents recent results on the impact of training, marketing and design expenditures on European firms' innovative performance. The new evidence drawn from recent JRC research suggests that these expenditures, in combination with R&D, are crucial drivers of innovation. Drawing on these results, policy implications for the European Research and Innovation Agenda are discussed and additional research questions identified. |
| Keywords: | Industrial Economics, Corporate R&D and innovation; productivity; business trends; technological innovation; intangible assets; competitiveness; growth and employment; company growth; Europe 2020 strategy. |
| Date: | 2012–10 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc75493&r=ino |
| By: | Lilian Santos (Faculdade de Economia, Universidade do Porto); Aurora A.C. Teixeira (CEF.UP, Faculdade de Economia, Universidade do Porto; INESC Porto; OBEGEF; UTEN) |
| Abstract: | The acknowledged importance of innovation and the increasingly decisive role played by the service sector make innovation an issue of major relevance to the economy. Using a sample of 6593 companies that answered the Community Innovation Survey 2008, we assessed the determinants of innovation of Portuguese companies by comparing the service sector and other sectors of activity (specifically, manufacturing industry, utilities and construction). Among the main results obtained, we highlighted: 1) the non-linear impact of human capital on the innovation performance of companies – Master degree emerges as a critical factor in corporate innovation, whereas the PhD level is negatively related to companies innovation performance; 2) knowledge-sourcing activities (systematic R&D achievements, innovation-based training, purchase of machinery and equipment for innovation) appear as central to firms’ innovation process; 3) although university-company relationships are weak and have a neglible impact on the generality of companies’ propensity to innovate, they tend to be rather important for the innovation performance of services companies; 4) participation in innovation activities in cooperation with foreign partners appears as a key factor in the innovative performance; 5) companies in the service sector in general, and in Knowledge-Intensive Business Services in particular, that effectively and continuously invest in R&D activities are most innovative. |
| Keywords: | Innovation performance; Services; Types of innovations; Innovation determinants; Portugal |
| JEL: | O31 O32 L25 L80 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:por:fepwps:494&r=ino |
| By: | Peter Voigt (University of Barcelona); Pietro Moncada-Paterno-Castello (JRC-IPTS) |
| Abstract: | The paper investigates how sector composition and the magnitude of R&D investment in the EU may differ in 2020 in comparison to the past, if a selection of top R&D-investing SMEs were assumed to be on a fast growth track while the top R&D-investing large-scale companies continue to grow as before. The background of this research objective is the emerging focus on SMEs – and in particular the fast-growing among them – with regard to the "Europe 2020" policy strategy. The study relies on the sample of top R&D-investing firms as given by the latest available "EU Industrial R&D Investment Scoreboard" editions, building there from an unbalanced panel. Scenarios were developed by distinguishing SMEs' assumed growth paths vs. that of large scale companies. A lin-ear prediction model has been used to calculate the scenario simulations. Overall, the study indicates that if one expects the (R&D-intensive) small firms to be a driving force for a substantial structural change in the EU economy, from being driven by medium-tech sectors towards a high-tech based economy, it requires either a significant longer-term horizon of the assumed fast growth track than the simulated 10 years, or small firms' growth figures which even exceed the assumed annual 30% (as in the most optimistic scenario). Neither case appears to be particularly realistic. Hence, we need more top R&D investors in Europe to further intensify their engagement in R&D (increasing volume and R&D intensity) as well as numerous small firms that start and/or significantly increase their existing R&D activities and thus seek to become large firms and (global) leading R&D investors. Accordingly, a broad R&D and innovation (policy) strategy is needed with policy interventions which also target well all these options; i.e. stimulating firm growth and R&D and innovation-intensity across firm-sized classes. |
| Keywords: | Industrial Economics, Corporate R&D and innovation; productivity; business trends; technological innovation; intangible assets; competitiveness; growth and employment; company growth; Europe 2020 strategy. |
| JEL: | L11 L25 R38 |
| Date: | 2012–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc69761&r=ino |
| By: | Link, Albert N. (University of North Carolina at Greensboro, Department of Economics); Scott, John T. (Dartmouth College) |
| Abstract: | In this paper we overview a key national program that supports the development of new technology and innovation in small, entrepreneurial firms. The Small Business Innovation Research (SBIR) program was established by the Small Business Innovation Development Act of 1982. We conclude from our years of study of the SBIR program that it is indeed bending the arc of innovation. The majority of firms that received SBIR project funding reported that they would not have undertaken the project in the absence of SBIR support. And, it seems clear to us that the SBIR support has had a positive impact on the employment trajectory of firms and on their ability to commercialize innovations resulting from their funded research. |
| Keywords: | SBIR program; innovation; technology; entrepreneurship |
| JEL: | L26 O31 O32 O38 |
| Date: | 2013–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:ris:uncgec:2013_008&r=ino |
| By: | David Carey; Christopher Hill; Brian Kahin |
| Abstract: | The US innovation system has many strengths, including world class research universities and firms that thrive in innovation-intensive sectors. However, fissures have begun to appear, notably in the areas of human capital development, the patent system and manufacturing activity, while public investments in R&D and research universities are at risk of being curtailed by budget cuts. Revitalizing the dynamism of innovation has become a priority for US policymakers. To this end, it is important that federal and state governments sustain financial support for knowledge creation. The US workforce’s skills will need to be upgraded, especially in STEM fields, and measures taken to provide more favourable framework conditions for developing advanced manufacturing in the United States. While the recent patent reform is a big step in the right direction, patent reform needs to be taken further by ensuring that the legal standards for granting injunctive relief and damages awards for patent infringement reflect realistic business practices and the relative contributions of patented components of complex technologies.<P>Renforcer l'innovation aux États Unis<BR>Le système d’innovation des États-Unis possède de nombreux atouts, en particulier des universités de recherche de rang mondial et des entreprises dynamiques dans les secteurs à forte intensité d’innovation. Cependant, certaines failles commencent à apparaître, notamment en termes de formation du capital humain, de brevets et d’activité manufacturière, et les investissements publics en faveur de la R-D et des universités de recherche risquent de pâtir des réductions budgétaires. Pour les décideurs américains, réactiver la dynamique de l’innovation est devenu une priorité. À cette fin, il importe que le gouvernement fédéral et les exécutifs des États continuent de soutenir financièrement la création de connaissances. Il faudrait améliorer le niveau de qualification de la main-d’oeuvre, en particulier dans le domaine des sciences, de la technologie, de l’ingénierie et des mathématiques (STIM), et prendre des mesures pour assurer la mise en place de conditions-cadres plus favorables au développement de la fabrication de pointe. La récente réforme des brevets représente un grand pas dans la bonne direction, mais elle doit être poursuivie en garantissant qu’en cas d’atteinte à un brevet, les critères juridiques sur lesquels se fondent les tribunaux pour prendre des décisions conservatoires et accorder des dommages-intérêts reflètent les pratiques effectives des entreprises et les contributions relatives des composantes brevetées des technologies complexes. |
| Keywords: | innovation, entrepreneurship, patents, R&D, green innovation, knowledge spillovers, MFP growth, complex technologies, cluster, advanced manufacturing, tertiary education attainment, STEM, immigration Visa, R&E tax credit, innovation, entrepreneuriat, brevets, R&D, l'innovation verte, crédits d'impôt pour R&E, externalités de connaissances, croissance de la productivité multifactorielle (PMF), pôles d'entreprises, activités manufacturières de pointe, niveau d'éducation tertiaire, STIM, visa d'immigration |
| JEL: | I2 O3 |
| Date: | 2012–11–22 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1001-en&r=ino |
| By: | Jeitschko, Thomas D.; Zhang, Nanyun |
| Abstract: | The conventional wisdom is that the formation of patent pools is welfare enhancing when patents are complementary, since the pool avoids a double-marginalization problem associated with independent licensing. This conventional wisdom relies on the effects that pooling has on downstream prices. However, it does not account for the potentially significant role of the effect of pooling on downstream innovation. The focus of this paper is on downstream product development and commercialization on the basis of perfectly complementary patents. We consider development technologies that entail spillovers between rivals, and assume that final demand products are imperfect substitutes. When pool formation facilitates information sharing and either increases spillovers in development or decreases the degree of product differentiation, patent pools can adversely affect welfare by reducing the incentives towards product development and product market competition|even with perfectly complementary patents. The analysis modifies and even negates the conventional wisdom for some settings and suggests why patent pools are uncommon in science-based industries such as biotech and pharmaceuticals that are characterized by tacit knowledge and incomplete patents. -- |
| Keywords: | Patent Pools,Research and Development,Innovation,Tacit Knowledge,BioTechnology,Pharmaceutical |
| JEL: | O3 L1 L2 L4 L6 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:92&r=ino |
| By: | Chiara Franco (Catholic University of Milan); Alberto Marzucchi (Catholic University of Milan); Sandro Montresor (JRC-IPTS) |
| Abstract: | The paper aims at extending the analysis of the firm’s absorptive capacity (AC) by taking stock of its manifold nature. Innovation cooperation is recognised as one of its antecedents, along with R&D, but with different possible outcomes, depending on the kind of partner. Human capital is claimed to be as important as other organisational mechanisms for the AC impact on innovation. The empirical application, carried out on about 10,500 firms located in 3 EU countries (i.e. Germany, Italy and Spain), confirms the role of these factors. Interacting with research organisations, for example, increases the firm’s AC providing it occurs within the national boundaries. The transformation of AC into actual innovation is favoured by the human capital of the firm, while it is actually hampered by socialisation mechanisms of an organisational nature. |
| Keywords: | Absorptive capacity, Innovation cooperation, Human capital |
| JEL: | O33 O32 J24 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc77090&r=ino |
| By: | d'Artis Kancs (JRC-IPTS); Boriss Siliverstovs (ETH Zurich - KOF Swiss Economic Institute) |
| Abstract: | The present paper studies the relationship between R&D investment and firm productivity growth by explicitly accounting for non-linearities in the R&D-productivity relationship and inter-sectoral firm heterogeneity. In order to address these issues, we employ a two step estimation approach, and match two firm-level panel data sets for the OECD countries, which allows us to relax both the linearity and homogeneity assumptions of the canonical Griliches (1979) knowledge capital model. Our results suggest that: (i) R&D investment increases firm productivity with an average elasticity of 0.15; (ii) the impact of R&D investment on firm productivity is differential at different levels of R&D intensity – the productivity elasticity ranges from -0.02 for low levels of R&D intensity to 0.33 for high levels of R&D intensity; (iii) the relationship between R&D expenditures and productivity growth is non-linear, and only after a certain critical mass of R&D is reached, the productivity growth is significantly positive; (iv) there are important intersectoral differences with respect to R&D investment and firm productivity – high-tech sectors’ firms not only invest more in R&D, but also achieve more in terms of productivity gains connected with research activities. |
| Keywords: | R&D investment, firm productivity, generalised propensity score |
| JEL: | C14 C21 D24 F23 O32 |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc77247&r=ino |
| By: | Alberto Marzucchi (Catholic University of Milan); Davide Antonioli (University of Ferrara); Sandro Montresor (JRC-IPTS) |
| Abstract: | The paper aims to show how policy makers can stimulate firms' cooperation with research organisations in innovation. We argue that the administration of an R&D subsidy can be effective. Furthermore, this should be more so for extra-regional than intra-regional cooperation. The firms' propensity to extend cooperation across the region is assumed to increase with the amount of support. However, the support must overcome a threshold, for firms to cover the fixed costs of distant interactions. These research hypotheses are tested with respect to a sample of firms in a region of Italy. Propensity score matching is applied to identify the impact of the subsidy receipt. A generalised propensity score technique is employed to investigate the effect of an increasing amount of support. All the hypotheses are not rejected. Firms' cooperation is policy sensitive, but the size of the support is crucial for its effects. |
| Keywords: | Industry-Research Cooperation, Regional Innovation Systems, Behavioural Additionality |
| JEL: | O32 O38 R11 R58 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc76320&r=ino |
| By: | Rutger P. Daems PhD (Planet Strategy Group, Brussels, Belgium); Edith L. Maes DBA (Maastricht School of Management, PO Box 1203, 6201 BE Maastricht, The Netherlands); Guy Nuyts, PhD (Janssen, Pharmaceutical Companies of Johnson & Johnson) |
| Abstract: | This paper describes an innovation framework that fosters public-private partnership as a means to overcoming the barriers of developing medicines to combat neglected diseases. We define neglected diseases as those therapeutic areas for which a great unmet need exists but for which market demand is lacking so that innovation-driven companies cannot recoup their investments in product research, development and large-scale manufacturing. Tropical infectious diseases like malaria represent an enormous burden of illness but are poverty related because the majority of people affected by them live in poor resource settings making affordability the main issue. On the other hand, rare diseases in advanced economies like cystic fibrosis affect few people so the volume-related demand is low despite the fixed cost of R&D. In addition, problems with access to medicines against widespread diseases persist due to a lack of awareness and financial constraints within the health care system resulting in under diagnosis which in turn leads to slow adoption and drug utilization. The common thread running through this disease category is that pharmaceutical companies cannot on their own address the specific challenges posed by neglected diseases. This paper provides insight into how a number of push and pull incentive systems that foster innovation may overcome the problem, and how the related corporate strategy and public policy can be aligned. |
| Keywords: | pharmaceutical R&D, neglected diseases, push mechanism, pull mechanism, innovation, investment risk incentive |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:msm:wpaper:2013/11&r=ino |
| By: | Aaron Chatterji; Edward L. Glaeser; William R. Kerr |
| Abstract: | This paper reviews recent academic work on the spatial concentration of entrepreneurship and innovation in the United States. We discuss rationales for the agglomeration of these activities and the economic consequences of clusters. We identify and discuss policies that are being pursued in the United States to encourage local entrepreneurship and innovation. While arguments exist for and against policy support of entrepreneurial clusters, our understanding of what works and how it works is quite limited. The best path forward involves extensive experimentation and careful evaluation. |
| JEL: | H70 L26 L52 L53 M13 O25 O38 R00 R10 R12 R50 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19013&r=ino |
| By: | Fernando Hervás Soriano (JRC-IPTS); Peter Voigt |
| Abstract: | The aim of CONCORD-2011 was to provide a forum for an academic discussion about recent findings on the role of R&D and innovation in terms of industrial dynamics and company growth. From the 102 abstracts sub-mitted in response to the initial call, 30 papers were selected and subject to a detailed presentation and discussion during the Conference. In addition, 20 posters were displayed. The conference was structured along three thematic strands: IV. R&D and innovation: Sources and constraints at company level V. Industrial dynamics & the role of R&D and innovation for Europe's competitiveness VI. New avenues for policy and for management practices The papers and the presentations during the conference examined very different topics and issues, ranging from evidence of certain sector specifics in terms of industrial innovation to broad systemic issues. At the same time, the papers shared a common methodology: they were all empirical, based on relatively unique (micro) datasets, and most of them used advanced econometric tools. This methodological consistency was very welcomed and contributed positively to the scientific quality of the conference. Obviously, data limitations prevented some papers from going too far in terms of interpretations and policy implications. In some cases, in fact, the unavailability of longitudinal datasets hindered a better investigation of causal links rather than focusing on simple correlations. This was the case, for instance, in terms of several analyses on the EU innovation deficit. The scientific findings come to reinforce the broad existing evidence on the subjects covered and, in a number of cases, present conclusions with clear policy implications, as illustrated in this report. This synthesis is structured along the logic of the three thematic strands of CONCORD-2011: (1) micro-level evidence and firm behaviour, (2) evidence at mesolevel, i.e. sector and industry dynamics, and (3) evidence from the assessment of concrete policy tools and management practices. Along the text, reference is made to the papers from which the corresponding evidence and conclusions were extracted. The list of papers is provided in Annex I. |
| Keywords: | Industrial Economics, Corporate R&D and innovation; industrial R&D investment; economic performance of the private sector; business trends; research; innovation; competitiveness; growth; scoreboard; survey; economic analysis; policy analysis; Europe 2020 strategy |
| Date: | 2012–01 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc68674&r=ino |
| By: | Xin Long (African Development Bank Group); Alessandra Pelloni (University of Rome "Tor Vergata") |
| Abstract: | We consider the optimal factor income taxation in a standard R&D model with technical change represented by an increase in the variety of intermediate goods. Redistributing the tax burden from labor to capital will in most cases increase the employment rate in equilibrium. This has opposite effects on two distortions in the model, one due to monopoly power, the second to the incomplete appropriability of the benefits of inventions. Their relative momentum determines the sign of the welfare effect of the redistribution. We show that, for parameter values consistent with available estimates, the optimal tax rate on capital will be sizable. |
| Keywords: | Capital Income Taxes, R&D, Growth Effect, Welfare Effect. |
| JEL: | E62 H21 O41 |
| Date: | 2013–04–19 |
| URL: | http://d.repec.org/n?u=RePEc:rtv:ceisrp:273&r=ino |
| By: | Nicolas Serrano-Velarde (Oxford University); Douglas Hanley (University of Pennsylvania); Ufuk Akcigit (University of Pennsylvania) |
| Abstract: | This paper introduces endogenous technical change through basic and applied research in a growth model. Basic research differs from applied research in two significant ways. First, significant advances in technological knowledge come through basic research rather than applied research. Second, these significant advances could potentially be applicable to multiple industries. Since these applications are not immediate, the innovating firm cannot exploit all the benefits of the basic innovations for production. We analyze the impact of this appropriability problem on firmsâ basic research incentives in an endogenous growth framework with private firms and an academic sector. After characterizing the equilibrium, we estimate our model using micro level data on research expenditures and behavior by French firms. We then decompose the aggregate growth by the source and type of innovation. Moreover, we quantitatively document the size of the underinvestment in basic research and consider various research policies to alleviate this inefficiency. Our analysis highlights the need for devoting a larger fraction of GDP for basic academic research, as well as higher subsidy rates for private research. |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed012:665&r=ino |
| By: | Daria Ciriaci (Inter-American Development Bank); Daniela Palma (Inter-American Development Bank) |
| Abstract: | The rise of knowledge-intensive business services (KIBS) may be considered as one of the decisive trends of economic evolution of industrialised countries in recent decades. This paper uses the concept of vertical integrated sectors and the subsystem approach to input-output matrix analysis to study the vertical integration of knowledge-based business services into manufacturing sectors. To date, companies increasingly rely on outside innovation for new products and processes and have become more active in licensing and selling results of their innovation to third parties. At the same time, they may rely on the marketing and financial consulting offered by third parties. As a consequence, considering manufacturing and KIBS as vertically inter-related sectors, the hypothesis of a virtuous circle can be expressed in the following way: the higher the degree of integration between KIBS and manufacturing sectors along what we could define as a ‘knowledge-based value chain’, the easier the knowledge diffusion and the competitiveness of the economic system as a whole. The study covers Germany, France, Italy, and the United Kingdom over the period 1995-2005. Results decisively support both the existence of structural differences among the countries considered, and a significant heterogeneity to the extent to which manufacturing outsources to knowledge-intensive business services. |
| Keywords: | Knowledge-intensive business services; subsystem approach; input-output analysis; knowledge diffusion |
| JEL: | L60 L84 O33 O32 P00 |
| Date: | 2012–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc71097&r=ino |
| By: | M. AUDENAERT; A. VANDERSTRAETEN; D. BUYENS |
| Abstract: | This study develops a multilevel conceptual model linking employment relationships and psychological empowerment with individual innovation. To test this model, we use survey data on 82 job functions and 934 employees from a large Flemish service organization. The results highlight the role of variables at the job-level. The first job-level context variable concerns employment relationships. The findings show that employment relationships with high job requirements and/or offered inducements affect psychological empowerment, which in turn is related to individual innovation. The second job-level context variable concerns job complexity. The findings show that job complexity operates as a cross-level moderator of the link between psychological empowerment and individual innovation. These findingsunderscore recent claims that multilevel linkages and the job-level context matter in explaining individual innovation in service organizations. |
| Keywords: | Employment relationship, psychological empowerment, job complexity, individual innovation, multilevel study. |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:rug:rugwps:13/836&r=ino |
| By: | Nikulainen, Tuomo; Tahvanainen, Antti-Jussi |
| Abstract: | This paper aims to identify factors that relate to scientists’ propensity to make commercially significant scientific discoveries (inventions) and to describe how these inventions are commercialized. Based on a large survey of academics active in different fields of science at U.S. universities, the paper benchmarks the top 20 universities against the rest, identifying the impact of different institutional settings. To highlight the institutional setting, the paper also compares these results to similar survey data from Finland, representing a small, highly educated European country. This comparison addresses the ‘European paradox’ in university technology commercialization, which is characterized by high investments in university research and disappointingly low levels of inventions and related commercialization activity. The results show that the likelihood of making commercially valuable scientific discoveries in the U.S. is driven by motivations related to the identification of commercial opportunities and working in interdisciplinary research environments. There are also significant differences between the various fields of science. In the top U.S. universities, the funding sources for scientists more likely to make inventions are more diversified and unique. The results for Finland are surprisingly similar, suggesting that the cause of the ‘European paradox’ seems to originate in the commercialization of inventions rather than their generation. When focusing on inventors who actively pursue commercial goals, both U.S. and Finnish inventors prefer licensing as the most popular way of taking scientific discoveries to the market. Consulting and entrepreneurship rank second and third, respectively. The countries differ with respect to both the inventors’ motivations to commercialize inventions and their reasons to refrain from it. In Finland, the motivations for not pursuing commercial opportunities are much more prominent than among U.S. scientists. |
| Keywords: | academic inventions, innovation, commercialization of research, academic entrepreneurship |
| JEL: | O30 O38 O33 O34 |
| Date: | 2013–05–03 |
| URL: | http://d.repec.org/n?u=RePEc:rif:wpaper:8&r=ino |
| By: | Shouyong, Shi; Berentsen, Aleksander; Rojas Breu, Mariana |
| Abstract: | Many countries simultaneously suffer from high rates of inflation, low growth rates of per capita income and poorly developed financial sectors. In this paper, we integrate a microfounded model of money and finance into a model of endogenous growth to examine the effects of inflation and financial development. A novel feature of the model is that the market for innovation goods is decentralized. Financial intermediaries arise endogenously to provide liquid funds to the innovation sector. We calibrate the model to address two quantitative issues. One is the effects of an exogenous improvement in the productivity of the financial sector on welfare and per capita growth. The other is the effects of inflationonwelfareandgrowth.Consistent with the data but in contrast to previous work, reducing inflation generates large gains in the growth rate of per capita income as well as in welfare. Relative to reducing inflation, improving the efficiency of the financial market increases growth and welfare by much smaller amounts. |
| Keywords: | Money; Growth; Innovation; Financial intermediation; |
| JEL: | O4 E1 G00 |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:ner:dauphi:urn:hdl:123456789/7354&r=ino |
| By: | Karel Haegeman (JRC-IPTS); Mark Boden (JRC-IPTS); Totti Konnola (Impetu Solutions) |
| Abstract: | For Europe to meet the dual objectives of increased competitiveness and addressing societal challenges, joining efforts at all levels in Research and Innovation is high on the policy agenda. The EU can play a role in fostering and facilitating increased collaboration. The NETWATCH information platform on transnational collaboration is among the tools available to support this role. This brief explores the current use and future potential of NETWATCH and other related platforms in guiding and monitoring transnational R&I programming towards increased societal impact and competitiveness. It proposes ways to make better use of existing data, as well as avenues for future development. |
| Keywords: | European research and innovation policy, ERAWATCH, European Research Area, Policy Mixes, Transnational and International Cooperation; NETWATCH; ERA Nets; Foresight; Joint programming of research; Researchers, Universities; European Foresight Platform (EFP); modelling, linking Qualitative and Quantitative methods. |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc71938&r=ino |
| By: | Kiira Kärkkäinen; Stéphan Vincent-Lancrin |
| Abstract: | This report highlights innovative technology-supported pedagogic models in science, technology, engineering and mathematics (STEM) education, explores what to expect from collaboration in a designed network, and, thereafter, sketches lessons for promoting educational innovation through collaboration.<P> How can technology-supported learning help to move beyond content delivery and truly enhance STEM education so that students develop a broad mix of skills? How can collaboration be encouraged and used to help develop, spread, accelerate and sustain innovation in education? The HP Catalyst Initiative – an education grant programme by the Hewlett Packard (HP) Sustainability and Social Innovation team – is used as a case study to answer these questions.<BR>Le rapport met en lumière des modèles pédagogiques utilisant la technologie pour l'enseignement des science, de la technologie, de l'ingénierie et des mathématiques (STEM), explore ce que l'on peut attendre de la collaboration dans un réseau créé artificiellement, et, ensuite, en tire des leçons pour promouvoir l'innovation éducative à travers la collaboration... |
| Date: | 2013–04–17 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:91-en&r=ino |
| By: | Daria Ciriaci (Inter-American Development Bank); Pietro Moncada-Paterno-Castello (JRC-IPTS); Peter Voigt (University of Barcelona) |
| Abstract: | This study examines serial correlation in employment, sales and innovative sales growth rates in a balanced panel of 3,300 Spanish firms over the years 2002-2009, obtained by matching different waves of the Spanish Encuesta sobre Innovacion en las Empresas, the Spanish innovation survey conducted annually by the Spanish National Statistics Institute (INE). The main objective is to verify whether the changes (increase/decrease) in these figures are persistent over time, whether such persistence (if any) differs between SMEs and larger firms, and if it is affected by a firm's age. To do so, we adopted a semi-parametric quantile regression approach. This methodology is well suited to cases where outliers (high-growth firms) are the subject of investigation and/or when they have to be assumed as being very heterogeneous. Empirical results indicate that among those innovative firms experiencing high employment growth, the smaller and younger grow faster than larger firms, but the jobs they create are not persistent over time. However, while being smaller and younger helps growing more in terms of employment and sales, it is not an advantage when innovative sales growth is considered: in this case larger firms experience faster growth. |
| Keywords: | Serial correlation; quantile regression model; Spanish firms; firm size, firm age; job creation; fast growing firms. |
| JEL: | L11 L25 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc74052&r=ino |
| By: | Nikulainen, Tuomo |
| Abstract: | Existing research argues that the keys to generating industry-relevant knowledge are interdisciplinary and networked research. The aim of this paper is to address statistically whether interdisciplinary and networked research are related to a higher potential to generate ideas with significant commercial value. Using a unique survey of academics in Finland, we identify several factors that relate to idea generation. In different types of research networks, we find a positive connection to an interdisciplinary work environment and networking. We also identify significant differences among fields of research. |
| Keywords: | universities, research, idea generation, commercial ideas, interdisciplinarity, networks, networking |
| JEL: | O30 O38 O33 O34 |
| Date: | 2013–05–03 |
| URL: | http://d.repec.org/n?u=RePEc:rif:wpaper:9&r=ino |
| By: | Alston, Julian M.; Okrent, Abigail M.; Parks, Joanna |
| Abstract: | How much has food abundance, attributable to U.S. public agricultural R&D, contributed to the high and rising U.S. obesity rates? In this paper we investigate the effects of public investment in agricultural R&D on food prices, per capita calorie consumption, adult body weight, obesity, and public health-care expenditures related to obesity. First we use an econometric model to estimate the average effect of an incremental investment in agricultural R&D on the farm prices of ten categories of farm commodities. Next, we use the econometric results in a simulation model to estimate the implied changes in prices and quantities consumed of nine categories of food for given changes in research expenditures. Finally, we estimate the corresponding changes in social welfare, including both the traditional measures of changes in economic surplus in markets for food and farm commodities, and changes in public health-care expenditures associated with the predicted changes in food consumption and hence obesity. We find that a 10 percent increase in the stream of annual U.S. public investment in agricultural R&D in the latter half of the 20th century would have caused a very modest increase in average daily calorie consumption of American adults, resulting in very small increases in social costs of obesity. On the other hand, such an increase in spending would have generated very substantial net national benefits given the very large benefit-cost ratios for agricultural R&D. |
| Keywords: | Agricultural and Food Policy, Food Consumption/Nutrition/Food Safety, |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare13:148420&r=ino |
| By: | Kassie, Girma Tesfahun; Erenstein, Olaf; Mwangi, Wilfred; Setimela, Peter S.; Langyintuo, Augustine S.; Kaonga, K.K. |
| Keywords: | Agricultural and Food Policy, Food Security and Poverty, |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:ags:cimmsp:147181&r=ino |
| By: | Yang, Zhenzeng |
| Abstract: | This paper examines theoretically the impact of host intellectual property rights (IPR) protection and complexity on MNEs' investment decision to the South in order to explain why large amount of foreign direct investment (FDI) flows to low IPR protecting China and other emerging economies. There are two key assumptions, imitation cost are positively related to complexity and imitation cost is higher when imitating a product designed only for foreign market than those for host market. In the model, a strengthening of IPR protection in the South raises an MNE's profit and stimulates inward FDI and licensing simultaneously, and stronger IPR protection will also induce more higher complexity production transfered to the South. Furthermore, as cost-oriented FDI is less sensitive to host IPR protection, developing host countries with low IPR protection can attract relatively more cost-oriented FDI. The model implies that strengthening of IPR protection can help emerging economies attract more complex and market-oriented FDI. |
| Keywords: | Intellectual Property Rights, Licensing, Imitation, Multinational Enterprise, Foreign Direct Investment |
| JEL: | F21 F23 O33 O34 |
| Date: | 2013–05–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46734&r=ino |
| By: | Rémy Herrera (Centre d'Economie de la Sorbonne) |
| Abstract: | This article deals with the relationships between luxury goods and innovations within the framework of a Socialist country. An original example is taken with the Habanos, the Cuban luxury cigars. In a first part, we analyze the main tendencies of the tobacco industry in general, and those of luxury tobacco in particular, in the case of Cuba. In a second part, the emphasis is put on the coexistence of traditional methods and the different forms of innovations characterizing this specific sector. These innovations can be scientific and technological, or linked to the production processes as well as to the products. |
| Keywords: | Luxury goods, innovations, socialism, cigars, Cuba. |
| JEL: | O13 O31 P32 Q16 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:13041&r=ino |