|
on Innovation |
| By: | David S. Abrams (Penn Law School & Wharton Business Economics & Public Policy Department, University of Pennsylvania,); Ufuk Akcigit (Department of Economics, University of Pennsylvania & NBER); Jillian Popadak (Wharton Business Economics & Public Policy Department, University of Pennsylvania) |
| Abstract: | Prior work suggests that more valuable patents are cited more and this view has become standard in the empirical innovation literature. Using an NPE-derived dataset with patent-specific revenues we find that the relationship of citations to value in fact forms an inverted-U, with fewer citations at the high end of value than in the middle. Since the value of patents is concentrated in those at the high end, this is a challenge to both the empirical literature and the intuition behind it. We attempt to explain this relationship with a simple model of innovation, allowing for both productive and strategic patents. We find evidence of greater use of strategic patents where it would be most expected: among corporations, in fields of rapid development, in more recent patents and where divisional and continuation applications are employed. These findings have important implications for our basic understanding of growth, innovation, and intellectual property policy. |
| Keywords: | productive innovation, defensive innovation, patents, creative destruction, citations, patent value, competition, intellectual property, entrepreneurship, strategic patenting, defensive patenting, patent thickets, fencing patents. |
| JEL: | O3 L2 K1 |
| Date: | 2013–11–05 |
| URL: | http://d.repec.org/n?u=RePEc:pen:papers:13-065&r=ino |
| By: | Lisa De Propris; Carlo Corradini |
| Abstract: | In the last decades, innovation activity has been defined by an increasing complexity and a faster pace of the underlying technological change. Accordingly, several studies have shown that competitive systems of innovation benefit from being able to build upon a wide but integrated spectrum of technological capabilities characterised by a sustained dynamism in the level of inter-sectoral technology flows. In this context, technological platforms – defined as knowledge and scientific launching pads that spin out of key enabling technologies - may create the opportunity for technological externalities to take place across a set of related sectors through a swarm of increasingly applied and incremental innovations. In this report, we look at the presence and determinants of these technological platforms across EU Countries and explore the mechanisms through which these influence inter sectoral technology spillovers, thus fostering technological shifts and technological synthesis within the broader economy. Using data on patents and patent citations obtained from the PATSTAT-CRIOS database, covering all patent applications made to the European Patent Office (EPO), we try to model the systemic nature of technology platforms. In particular, our aim is to provide empirical evidence that the presence of key enabling technologies at the base of the platform may lead to a more sustained interaction across second tier innovations characterised by a “distant” knowledge base. Then, we endeavour to investigate the relationship that may take place between this process and the role played by the national dimension. |
| Keywords: | Clusters, ecological innovation, industrial innovation, innovation, innovation policy, new technologies, patents, socio-ecological transition, sustainable growth |
| JEL: | O3 O31 O32 O33 O38 |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:feu:wfewop:y:2013:m:11:d:0:i:34&r=ino |
| By: | Debuque-Gonzales, Margarita (University of the Philippines) |
| Abstract: | This paper investigates the financial determinants of research and development (R&D) investment in Asia, where innovation is naturally seen as the key driver of future (high) economic growth. We sample listed nonfinancial firms from eight economies in region (the People’s Republic of China; Hong Kong, China; India; Indonesia; the Republic of Korea; Malaysia; the Philippines; and Singapore) for the period 2002–2011 using the Oriana database. Panel data regressions show sensitivity of R&D investment to changes in cash flow, indicating reliance on internal financing of R&D and financially constrained firms, and a greater role of debt, rather than equity, as a source of external financing. In terms of alternative uses of funds, dividend payments by firms seem to divert from their spending on R&D, but investments in financial assets do not. In terms of ownership structure, empirical results show that both higher domestic ownership concentration and higher foreign ownership tend to lower cash flow sensitivity of R&D investment, suggesting more stable funding of innovation. Overall, there does not seem to be an extreme preference of firm shareholders for short-term returns at the expense of long-term productivity. However, there is clearly a gain for firms as well as economies they are in with better access to external financing of R&D. |
| Keywords: | R&D investment; financing innovation; cash flow; R&D financing constraints; Asia |
| JEL: | D92 G30 O30 O40 |
| Date: | 2013–08–16 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbewp:0364&r=ino |
| By: | Ledezma, Ivan |
| Abstract: | This paper analyses the potentially defensive behaviour of patent race winners and its effect on aggregate R&D effort. It proposes a quality-ladders model that endogenously determines leaders technology advantages and who innovates. Product market regulation can have either a positive or a negative effect on R&D intensity. The negative effect is likely to be observed in highly deregulated economies. The positive influence arises in more regulated environments and it is stronger for larger innovative jumps. These steady-state equilibrium outcomes are consistent with puzzling and contrasting patterns stemming from data on manufacturing industries for 14 OECD countries during the period 1987-2003. |
| Keywords: | réglementation; modèle à échelles de qualité; leaders innovants; R&D; product market regulation; quality ladders; Innovative Leaders; |
| JEL: | O33 O31 L13 |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:dau:papers:123456789/4966&r=ino |
| By: | Matthias Duschl (Economic geography and Location Research, Philipps-Universität Marburg); Thomas Brenner (Economic geography and Location Research, Philipps-Universität Marburg) |
| Abstract: | This paper analyses the causal relationships in regional technological systems within a structural vector autoregression (SVAR) framework. Applying a data-driven identification strategy based on Independent Component Analysis, it shows how the regional growth dynamics of economic, research, innovation and educational activities affect each other instantaneously and over time in five different industries. Referring to the type of industry and its knowledge base, expectations are derived on how industry-specific growth processes unfold. Knowledge on the causal relations among the various activities in such regional technological systems is of utmost relevance to the design and implementation of efficient policy instruments. |
| Keywords: | regional growth, SVAR, non-normality, innovations, universities, R&D, regional technological systems |
| JEL: | C33 O30 R11 |
| Date: | 2013–10–09 |
| URL: | http://d.repec.org/n?u=RePEc:pum:wpaper:2013-12&r=ino |
| By: | Auspurg, Katrin; Burton, Jonathan; Cullinane, Carl; Delavande, Adeline; Laura Fumagalli; Iacovou, Maria; Jäckle, Annette; Kaminska, Olena; Lynn, Peter; Mathews, Paul; Nicolaas, Gerry; Nicoletti, Cheti; Cong Ye; Zafar, Basit |
| Abstract: | This paper presents some preliminary findings from Wave 5 of the Innovation Panel (IP5) of Understanding Society: The UK Household Longitudinal Study. Understanding Society is a major panel survey in the UK. In February 2012, the fifth wave of the Innovation Panel went into the field. IP5 used a mixed-mode design, using on-line interviews and face-to-face interviews. This paper describes the design of IP5, the experiments carried and the preliminary findings from early analysis of the data. |
| Date: | 2013–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:ese:ukhlsp:2013-06&r=ino |
| By: | Naoto Jinji; Xingyuan Zhang; Shoji Haruna |
| Abstract: | We examine whether regional trade agreements (RTAs) enhance international technology spillovers by using a panel of patent application and citation data for 142 countries/regions during 1990–2006 at the United States Patent and Trademark Office. We use patent citation data as a proxy for technology spillovers. A gravity-like model is estimated by the negative binomial model and the fixed effects negative binomial (FXNB) model. We find that technology spillovers between two countries/regions measured by patent citations are greater if they are signatories to the same RTA. This finding is quite robust for different estimation techniques. The estimated results from the FXNB model suggest that there is no significant difference in the effects of free trade agreements and customs unions on technology spillovers. We also find that General Agreement on Tariffs and Trade (GATT) and World Trade Organization (WTO) membership and participation in the Information Technology Agreement of WTO facilitate technology spillovers across signatories. |
| Keywords: | regional trade agreement, technology spillovers, patent citations, economic distance, gravity model |
| JEL: | F15 O33 |
| URL: | http://d.repec.org/n?u=RePEc:kue:dpaper:e-12-010&r=ino |
| By: | Rey, Patrick; Tirole, Jean |
| Abstract: | The paper makes two related contributions. First, and in contrast with the rich body of literature on collusion with (mainly perfect) substitutes, it derives general results on the sustainability of tacit coordination for a class of nested demand functions that allows for the full range between perfect substitutes and perfect complements. Second, it studies the desirability of joint marketing alliances, an alternative to mergers. It shows that a combination of two informationfree regulatory requirements, mandated unbundling by the joint marketing entity and unfettered independent marketing by the firms, makes joint-marketing alliances always socially desirable, whether tacit coordination is feasible or not. |
| Keywords: | tacit collusion, cooperation, substitutes and complements, essentiality, joint marketing agreements, patent pools, independent licensing, unbundling, co-opetition. |
| JEL: | D43 L24 L41 O34 |
| Date: | 2013–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:ide:wpaper:27696&r=ino |
| By: | Panagiotis Kampylis (JRC/IPTS); Nancy Law (University of Hong Kong, Hong Kong); Yves Punie (JRC/IPTS); Stefania Bocconi (Italian National Research Council, The Institute for Educational Technology); Barbara Bre?ko (JRC/IPTS); Seungyeon Han (Hanyang Cyber University, South Korea); Chee-Kit Looi (National Institute of Education, Singapore); Naomi Miyake (The University of Tokyo, Japan) |
| Abstract: | This report presents three cases of ICT-enabled innovation for learning from Europe (eTwinning, 1:1 Learning in Europe and Hellerup School in Denmark) and four cases from Asia (e-Learning Pilot Scheme in Hong Kong SAR, Knowledge Construction with Technology (CoREF) in Japan, Third Masterplan for ICT in Education (mp3) in Singapore and Digital Textbook project in South Korea), covering aspects such as the context, scale and nature of innovation, the intended learning outcomes, the role of technology, and implementation strategies. Based on desk research, case reports, consultation with education stakeholders from Europe and Asia, and in-depth expert interviews, the necessary conditions for sustainability, scalability and impact at system level are analysed. Thus, the report brings evidence to the debate about the mainstreaming of ICT-enabled innovation for learning in Europe and beyond, contributing to the Europe 2020 Strategy to modernize Education and Training across Europe. |
| Keywords: | ICT-enabled innovation for learning, Creative Classrooms, conditions for sustainability and scalability of educational innovation, ecological framework for mainstreaming educational innovation, |
| JEL: | I20 I21 I28 I29 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc83503&r=ino |
| By: | Midjord, Rune; Rodríguez Barraquer, Tomás; Valasek, Justin |
| Abstract: | We provide an explanation for why committees may behave over-cautiously. A committee of experts makes a decision on a proposed innovation on behalf of 'society'. Each expert's signal about the innovation's quality is generated by the available evidence and the best practices of the experts' common discipline, which is only indirectly related to the true state of the world. In addition to a payoff linked to the adequateness of the committee's decision, each expert receives a disesteem payoff if he/she voted in favor of an ill-fated innovation. No matter how small the disesteem payoffs are, information aggregation fails in large committees: under any majority rule, the committee rejects the innovation almost surely. -- Wir bieten eine Erklärung für die Frage an, warum Gremien unter bestimmten Umständen übervorsichtig agieren. Ein Expertengremium entscheidet stellvertretend für 'die Gesellschaft' über eine ihm vorgeschlagene Innovation. Die Bewertung der Qualität dieser Innovation durch jeden Experten erfolgt auf der Grundlage dessen, was in der gemeinsamen Disziplin als allgemein evident und als 'best practice' angesehen wird. Beides korreliert jedoch nur indirekt mit der tatsächlichen Qualität der Innovation. Neben der Entlohnung, die von der Qualität der Entscheidung des Komitees abhängt, enthält der Nutzen eines jeden Experten eine negative Komponente, z. B. in Form von Geringschätzung, falls er / sie für eine erfolglose Innovation votiert hat. Dabei zeigt sich, dass in großen Gremien das Aggregieren von Informationen scheitert, egal wie klein die negative Nutzenkomponente sein mag: unter jeder beliebigen Mehrheitsregel lehnt das Gremium die Innovation mit an Sicherheit grenzender Wahrscheinlichkeit ab. |
| Keywords: | Committees,Information aggregation,Disesteem payoffs |
| JEL: | D71 D72 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wzbeoc:spii2013313&r=ino |
| By: | Josheski, Dushko; Magdinceva-Sopova, Marija |
| Abstract: | The issue of institutional support for innovations in Latin American countries has been examined in this paper. We use aprirori theoretical knowledge on this issue in order to derive one econometric model out of a theoretical framework. The influence on human capital variable on innovations growth it is straightforward. However, the sign on the institutions variable is ambiguous. Defective institutions in Latin American countries resulted in regional’s social conflicts which were severe, and the ability of social groups to use formal political institutions to resolve, or mitigate this conflicts has been much less effective. The lack of democracy if we may say, deteriorates the entrepreneurial spirit and hence institutions may as well turn not to be supportive of innovations. |
| Keywords: | Innovations, human capital, quality of institutions, Latin America |
| JEL: | E1 O33 O43 O54 |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:51290&r=ino |
| By: | Max Nathan; Emma Vandore |
| Abstract: | The digital industries cluster known as 'Silicon Roundabout' has been quietly growing in East London since the 1990s. Now rebranded 'Tech City', it is now the focus of huge public and government attention. National and local policymakers wish to accelerate the local area's development: such cluster policies are back in vogue as part of a re-awakened interest in industrial policy in many developed countries. Surprisingly little is known about Tech City's firms or the wider ecosystem, however, and existing cluster policies have a high failure rate. This paper performs a detailed mixed-methods analysis, combining rich enterprise-level data with semi-structured interviews. We track firm and employment growth from 1997-2010 and identify a number of distinctive features: branching from creative to digital content industries, street-level sorting of firms, the importance of local amenities and a lack of conventional cluster actors such as universities or anchor businesses. We also argue that the existing policy mix embodies a number of tensions, and suggest areas for improvement. |
| Keywords: | Digital economy, cities, clusters, innovation, London, Silicon Roundabout, Tech City |
| JEL: | L2 L52 M13 O18 O31 R11 |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:cep:sercdp:0146&r=ino |