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on Innovation |
| By: | Francesco Aiello; Graziella Bonanno; Alessia Via (Dipartimento di Economia, Statistica e Finanza, Università della Calabria) |
| Abstract: | This paper utilizes the Efige data (2007-2009) to identify the determinants of university-industry cooperation in five European countries (France, Germany, Italy, Spain, UK). We use a probit model for firm level data which incorporates variables of innovation activities and traditional determinants of R&D cooperation.The results of analysis support the view that the relationships between firms and universities have a high degree of heterogeneity. Traditionally evaluated firm variables, such as age, exporting, belonging to a sector, process innovation, are significant in only some countries. There are also common patterns: the probability of cooperating with universities increases for innovative firms and firms with R&D capacity in almost all countries. Policies in support of R&D and size are also an important factor. |
| Keywords: | university-industry cooperation; European countries; R&D; manufacturing firms |
| JEL: | O31 D21 C25 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:clb:wpaper:201504&r=all |
| By: | Mahmood Mahmoodzadeh (Department of Economics, Firoozkooh Branch, Islamic Azad University); Somaye Sadeghi (Department of Economics, Firoozkooh Branch, Islamic Azad University); Soraya Sadeghi (MA in Economics); Saleh Ghavidel (Department of Economics, Firoozkooh Branch, Islamic Azad University,Firoozkooh) |
| Abstract: | This paper investigates the effects of innovation investments in Iranian industries including R&D expenditures (disaggregated as domestic and foreign) and ICT investments on energy intensity in three clusters of Iranian industries including small, medium and large size industries. We used the GMM panel method to estimate during 2000-2009 periods. The results show that in all clusters, domestic R&D expenditures have not significant effect on energy intensity, while foreign R&D expenditures induces to decrease considerably energy intensity. Also, ICT investments cause to increase energy intensity. Moreover, as expected, the spillovers from these innovations, especially R&D spillover cause to decrease energy intensity. Overall, in Iranian firms, innovation investments, in particular foreign R&D expenditures play a substantial role to improve energy efficiency. |
| Keywords: | Energy Intensity, ICT Investments, Domestic R&D, Foreign R&D, Spillovers |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2804578&r=all |
| By: | Barra, Cristian; Zotti, Roberto |
| Abstract: | This paper investigates the regional innovation system (RIS) efficiency, and its determinants, in Italy through a Stochastic Frontier Analysis and using the concept of a knowledge production function. The contribution of universities’, private and public sectors’ resources devoted to research and development (R&D), in generating innovation, has been examined, as well as the impact of several exogenous environmental variables on RIS efficiency. The empirical findings suggest the importance of R&D investments taking place in the universities and in the private sector, which benefit the most to regional innovation activities; labour market and industries’ characteristics are found to have an important role on RIS efficiency. |
| Keywords: | Regional innovation system, Technical efficiency. Knowledge production function |
| JEL: | C14 C67 O31 |
| Date: | 2015–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:67067&r=all |
| By: | Bobtcheff, Catherine; Bolte, Jérôme; Mariotti, Thomas |
| Abstract: | We propose and analyze a general model of priority races. Researchers privately have breakthroughs and decide how long to let their ideas mature before disclosing them, thereby establishing priority. Two-researcher, symmetric priority races have a unique equilibrium that can be characterized by a differential equation. We study how the shape of the breakthrough distribution and of the returns to maturation affect maturation delays and research quality, both in dynamic and comparative-statics analyses. Making researchers better at discovering new ideas or at developing them has contrasted effects on research quality. Being closer to the technological frontier enhances the value of maturation for researchers, which mitigates the negative impact on research quality of the race for priority. Finally, when researchers differ in their abilities to do creative work or in the technologies they use to develop their ideas, more efficient researchers always let their ideas mature more than their less efficient opponents. Our theoretical results shed light on academic competition, patent races, and innovation quality. |
| Keywords: | priority races; private information |
| JEL: | C73 D82 |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:10858&r=all |
| By: | Erind Hoti (European University of Tirana); Gentian Hoxhalli (European University of Tirana) |
| Abstract: | This paper focuses at small and medium enterprises (SMEs) which are facing growing competition. Technological innovation and the increasing role of knowledge exploitation in the enterprise, provide an important source of innovation and competitive advantage. Technological innovation is being perceived to a greater extent as a continuous, collaborative, multi-actor process requiring new collaboration-supporting technologies and focusing on knowledge and social dynamics perspectives. This paper tries to determine if any relationships do exist between measures for adapting technological innovation in SMEs and whether these are caused by a technology-push or demand-pull. It also aims at verifying if activities related to knowledge management in the enterprise lead to planned or incidental innovations. In doing so we get insights on how different activities could affect technological innovation and it contributes to the small business management literature by adding to the body of knowledge on technological innovation adaption and utilization in SMEs. The empirical investigation is carried out in an emerging market nation such as Albania |
| Keywords: | SMEs, technology innovation, knowledge management, emerging market economy |
| JEL: | O30 M20 O32 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805365&r=all |
| By: | Asheim, Björn (CIRCLE, Lund University; UiS Business School/Centre for Innovation Research, University of Stavanger; BI Norwegian Business School, Oslo); Grillitsch, Markus (CIRCLE, Lund University); Trippl , Michaela (CIRCLE, Lund University) |
| Abstract: | Since its development in the 1990s, the Regional Innovation Systems (RIS) approach has attracted considerable attention from economic geographers, innovation scholars and policy makers. The RIS approach figures prominently in the scientific discourse about the uneven geography of innovation and the factors that shape the knowledge generation and innovation capacities of regions. The aim of this paper is to reflect about the emergence of the RIS approach, the current debate as well as future challenges. This reflection paper is guided by four overarching research questions: What are the origins and theoretical foundations of this approach? What has the RIS approach contributed to innovation studies and economic geography? What are the implications for innovation policy? And what are the recent lines of research and key research challenges in the future? We argue that the contributions of the RIS approach have been substantial. Still the approach has often been applied in a rather static way, more as a heuristic than a coherent theory. The key challenges for current and future research therefore are to move towards a more theory-based, dynamic perspective on RIS, dealing with new path development and the transformation of RIS. |
| Keywords: | regional innovation system; regional innovation policy; regional industrial change; transformation of innovation systems; research challenges |
| JEL: | O30 O38 P48 R10 R58 |
| Date: | 2015–10–02 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2015_036&r=all |
| By: | Esra BALLI (Çukurova University); Muammer TEKEO (Çukurova University); Müge MANGA (Çukurova University) |
| Abstract: | It is widely accepted that innovation is the driving force for economic growth. Therefore it is important for countries to examine their national innovative capacity to build and strength their related institutions and infrastructures. This study examines the national innovative capacity of selected 19 countries utilizing panel data for the period 1995 to 2013. The results show that patents are affected differently according to the countries’ Gross Domestic Product, total personnel in Research and Development, educational share spent on Gross Domestic Product, percentage of Research and Development funded by private industry and percentage of Research and Development funded by government. In addition patents are inclined to increase nations development level. |
| Keywords: | National innovative capacity, Panel data, Patents |
| JEL: | C23 F43 O30 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2804808&r=all |
| By: | Derya Findik (Science and Technology Policy Studies Program, METU); Aysit Tansel (Department of Economics, METU; Institute for the Study of Labor (IZA) Bonn, Germany; Economic Research Forum (ERF) Cairo, Egypt) |
| Abstract: | This chapter analyzes the effect of intangible investment on firm efficiency with an emphasis on its software component. Stochastic production frontier approach is used to simultaneously estimate the production function and the determinants of technical efficiency in the software intensive manufacturing firms in Turkey for the period 2003-2007. Firms are classified based on the technology group. High technology and low technology firms are estimated separately in order to reveal differentials in their firm efficiency. The results show that the effect of software investment on firm efficiency is larger in high technology firms which operate in areas such as chemicals, electricity, and machinery as compared to that of the low technology firms which operate in areas such as textiles, food, paper, and unclassified manufacturing. Further, among the high technology firms, the effect of the software investment is smaller than the effect of research and development personnel expenditure. This result shows that the presence of R&D personnel is more important than the software investment for software intensive manufacturing firms in Turkey. |
| Keywords: | Intangible assets, Software investment, Efficiency, Software intensive firms, Stochastic frontier analysis, Production Function, Firms, Turkey. |
| JEL: | L21 L23 L25 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:met:wpaper:1506&r=all |
| By: | Mario Raúl de la Peña (Universidad Oscar Lucero de Holguín); Juan A. Núñez-Serrano (Departamento de Economía Aplicada (Department of Applied Economics), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Management), Universidad Autónoma de Madrid (Autonomous University of Madrid); Grupo de Investigación en Productividad, Innovación y Competencia (GRIPICO) (Group for Research in Productivity, Innovation and Competition), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid)); Jaime Turrión (Grupo de Economía Europea (European Economy Group), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid); Departamento de Economía Aplicada (Department of Applied Economics), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Management), Universidad Autónoma de Madrid (Autonomous University of Madrid); Grupo de Investigación en Productividad, Innovación y Competencia (GRIPICO) (Group for Research in Productivity, Innovation and Competition), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid)); Francisco J. Velázquez (Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid, Campus de Somosaguas, s/n, E28223 POZUELO DE ALARCÓN, MADRID (SPAIN); Grupo de Investigación en Productividad, Innovación y Competencia (GRIPICO) (Group for Research in Productivity, Innovation and Competition), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid)) |
| Abstract: | This paper evaluates the impact of innovative activity in the hotel industry on the willingness to pay by consumers. To this end we estimate a hedonic price function where innovation is identified indirectly through certain attributes. The contrast is performed on a representative sample of Cuban hotels considering a large number of attributes of hotels and rooms. To solve the usual problems of collinearity an original procedure is developed. The results highlight the importance of the attributes linked to innovation and internationalization on the price of the rooms of Cuban hotels. |
| Abstract: | Este trabajo evalúa el impacto de la actividad innovadora en la industria hotelera sobre la disposición a pagar por los consumidores. Con este objetivo se estima una función hedónica de precios donde las innovaciones se identifican indirectamente a través de ciertos atributos de los hoteles. El contraste se realiza sobre una muestra representativa de hoteles cubanos considerando un número importante de atributos de los hoteles y de las habitaciones. Para solventar el problema habitual de colinealidad en este contexto, se desarrolla un procedimiento original. Los resultados ponen de manifiesto la importancia de los atributos ligados a la innovación e internacionalización sobre el precio de las habitaciones de los hoteles cubanos. |
| Keywords: | Innovation, Hospitality industry, Prices, hedonic pricing method.; Innovación, Industria hotelera, Precios, Métodos de precios hedónicos. |
| JEL: | D46 L83 O32 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:ucm:doctra:15-05&r=all |
| By: | Gierhake, Klaus; Jardón, Carlos M. |
| Abstract: | Der Artikel untersucht den Innovationsprozess im Metropolitandistrikt Quito aus der Perspektive 'Nutzung des lokalen Wissens'. Dafür wird das Konzept des intellektuellen Kapitals genutzt, unter der Perspektive angewandter Wissenschaft (Geographie / Ökonomie) inhaltlich und räumlich angepasst. In methodischer Hinsicht wird mit der Verbindung des Konzeptes 'lokales Wissen' und geographische Innovationsforschung ein 'Mehrwert' erreicht. Die verschiedenen Facetten des Lokalen Wissens können die Möglichkeiten eines Territoriums, Innovation zu generieren, beeinflussen. Das kann in diesem Zusammenhang kann qualitativ nachgewiesen werden. So gewinnt auch der wirtschaftswissenschaftliche Ansatz des 'intellektuellen Kapitals' an Erklärungswert, integriert er doch nun eine sehr viel präzisere territoriale Perspektive. Insgesamt werden siebzehn Indikatoren vor dem Hintergrund des realen Kontextes der Gemeideregierung Metropolitanzone Quito vorgestellt. [...] |
| Abstract: | The publication examines the innovation process in the Metropolitan district Quito with respect to 'utilization of local knowledge' applying the concept of intellectual capital adapted according to informational and spatial criteria from the perspective of applied science (geography / economy). With this methodology the combination of the concept local knowledge with geographical innovation research should produce an added value. The different facets of local knowledge can modify the possibilities of regions to generate innovation. This has been proved in a qualitative manner. Thus the concept of intellectual capital used in economical science obtains explanatory value, since it integrates a much more precise territorial perspective. Altogether seventeen indicators are presented in the concrete context of the Metropolitan zone of Quito. [...] |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zeudps:71&r=all |
| By: | Mariana Mazzucato (SPRU (Science Policy Research Unit), School of Business, Management & Economics, University of Sussex, Brighton, BN1 9SL, U.K.); Caetano Penna (SPRU (Science Policy Research Unit), School of Business, Management & Economics, University of Sussex, Brighton, BN1 9SL, U.K.; Institute of Economics, Federal University of Rio de Janeiro, Brazil) |
| Abstract: | This paper focuses on the rise of state investment banks (SIBs) as lead funders of mission-oriented innovation in various countries’ agendas regarding smart (innovation-led) growth, and not just fixers of ‘market failures’. The market failure justification for public finance fails to capture the active mission-oriented role that such banks are playing in shaping and creating markets, rather than just fixing them. In tackling innovation priorities and shaping new markets, these banks are developing new financial tools that also help to reform the financial system from within, addressing issues of short-termism and financialisation. This paper documents and analyses the roles of such banks, building on the Neo-Schumpeterian work on mission-oriented policies (that is, policies that aim to address societal issues or challenges). The paper presents a rich analytical description of mission-oriented investments in two of the leading SIBs: Brazil’s BNDES and Germany’s KfW. We discuss the directionality of the investments, the various tools used, and the lessons to be learned for evaluating these tools outside of a market failure framework. |
| Keywords: | State investment banks, mission-oriented policy, societal challenges, public finance, financialisation, innovation |
| JEL: | G20 O16 O38 L52 P16 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2015-26&r=all |
| By: | S0-Jin Lim (Korea Institute of Intellectual Property) |
| Abstract: | As the ratio of intangible assets in firm’s market value is increasing, the business strategy on knowledge assets including intellectual property rights is becoming the key factor determining firm’s performance and survival. This study empirically examines the impacts of IPR on the firm survival using 619,314 firm-year observations of South Korean manufacturing firms in 2000-2012, based on the assumption that those effects depend on the types, quantity, attributes of IPR and the growth stage and industries of a firm. We find that one unit increase of patent stock, design and trademark in firms could reduce the hazard ratio by 0.9%, 10.3% and 13.6% respectively. As to the attributes of patents, one unit increase of the numbers of claims, IPC classification and the ratio of joint applied patent could reduce the hazard ratio by 0.4%, 2.1%, and 5.3% respectively. And, in regard to the discriminative effects of those variables according to the growth stage of a business, the positive effect of the quantity of patent stock is decreasing and that of patent’s quality is increasing as a firm grows. |
| Keywords: | Intellectual Property Right, Firm Survival, Cox proportional hazard model, growth stage |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2804273&r=all |
| By: | CHOI, Jay Pil; GERLACH, Heiko |
| Abstract: | This paper develops a model of patent trolls to understand various litigation strategies employed by nonpracticing entities (NPE). We show that when a NPE faces multiple potential infringers who use related technologies, it can gain a credible threat to litigate even when it has no such credibility vis-à-vis any single potential infringer in isolation. This is due to an information externality generated by an early litigation outcome for subsequent litigation. Successful litigation creates an option value against future potential infringers through Bayesian updating. This renders a credible litigation threat against the initial defendant and allows the NPE to extract more rents. We discuss policy implications including the adoption of the British system of “loser-pays” fee shifting and the use of injunctive relief. |
| Keywords: | patent portfolios, patent litigation, non-practicing entities, patent troll |
| JEL: | D43 L13 O3 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:hit:hiasdp:hias-e-9&r=all |
| By: | Bharat Diwakar; Gilad Sorek |
| Abstract: | This work highlights principle differences in the predictions of R&D-based growth theory derived from the infinite horizon framework and the Overlapping Generations (OLG) framework of finitely living agents. In particular we show that the counterfactual positive effect of population growth on output growth presented in the second and third generation R&D-based growth models is eliminated in the corresponding OLG framework with finitely living agents. These differences arise because of the limiting effect of labor income on saving that presents only in the OLG framework. Our results indicate that the counterfactual relations between population and output growth rates presented in current R&D-based growth models are driven by their specific demographic structure. |
| Keywords: | R&D, Growth; Population; Overlapping Generations |
| JEL: | O31 O40 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:abn:wpaper:auwp2015-14&r=all |
| By: | Christopher Goetz; Henry Hyatt; Erika McEntarfer; Kristin Sandusky |
| Abstract: | In this paper, we highlight the potential for linked employer-employee data to be used in entrepreneurship research, describing new data on business start-ups, their founders and early employees, and providing examples of how they can be used in entrepreneurship research. Linked employer-employee data provides a unique perspective on new business creation by combining information on the business, workforce, and individual. By combining data on both workers and firms, linked data can investigate many questions that owner-level or firm-level data cannot easily answer alone - such as composition of the workforce at start-ups and their role in explaining business dynamics, the flow of workers across new and established firms, and the employment paths of the business owners themselves. |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:15-29&r=all |
| By: | Tobias Broer (Stockholm University); Per Krusell (Stockholm University); Niels-Jakob Hansen; Erik Oberg (Stockholm University) |
| Abstract: | The success of the New Keynesian framework stems from its ability to match the aggregate responses to innovations in monetary policy and total factor productivity (TFP). Specifically, the model can account for negative responses of output to innovations in the policy rate and a negative response of employment to innovations in TFP. We reexamine the transmission channel of the textbook model and show that these successful results rely on the assumption that firm profits are redistributed to working households. We contrast the textbook model to a worker-capitalist model where profits are consumed by non-working capitalists. This modification renders employment and output unresponsive to monetary policy and employment unresponsive to TFP. The reason is that the income and substitution effects of changes in the wage level cancel when the worker receive income from wages alone. Given the empirically observed distribution of equity ownership and the VAR evidence on the business cycle behavior of profits, we argue that our results cast doubt on the transmission channel in the textbook model. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed015:941&r=all |
| By: | Mosayeb Pahlavani (University of Sistan and Baluchestan) |
| Abstract: | In this study, we investigated the effect of "volatility" of investment in human capital on Iran’s economic growth, such that the government expenditure on educational and R & D budget have been replaced as proxies of human capital variable. Volatility of government expenditure on education and volatility in research and development budget have been estimated using the Generalize Autoregressive Conditional Heteroskedasticity (GARCH) Models. Coefficients of the short term and long term are estimated using Auto-Regressive Distributed Lag (ARDL) pattern. The results indicate that the costs of educational and R & D budget have a positive effect on economic growth, but the effect of volatility in these variables on economic growth is negative and significant. More addition, the effect of long term coefficients is more than the short term. Therefore, to achieve a high growth rate, development of human capital and its continuation is essential. |
| Keywords: | Human capital, Volatility, R&D, expenditure on education, Economic growth |
| JEL: | C32 E24 H52 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805335&r=all |
| By: | Serge Gijrath (Universiteit Leiden) |
| Abstract: | The paper assesses the scope of current regulation in the electronic communications sector in a period of rapid technological changes. It explores the network operator’s dilemma how to deal with investments in innovation in a time where fundamental innovation comes from outside; and the regulator’s dilemma how to improve the conditions for access to financial resources for research and innovation. The contention is to look whether different regulatory tools, such as proactively enhancing interoperability levels, subsidies and standardization measures could complement or supplement existing measures to safeguard competition. In terms of interoperability, two cases are discussed: IP connectivity and broadband access. The focus will be on measures proposed by the Commission in 2015 for the achievement of the Digital Single Market: what is the right track: does yardstick regulation imposing price-caps still work. The road to achieving more incentive regulation appears to be bumpy as well and reorganizing the level playing field does not appear to be a viable regulatory option. Some thought is given to how infrastructure sharing and other long-term contracts could form an alternative for regulation. A mix of regulation is proposed to move towards smarter electronic communications networks. |
| Keywords: | Interoperability, innovation; standardization; connected continent; IP connectivity; broadband access; incentive regulation; deregulation |
| JEL: | K00 K23 K33 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2804775&r=all |
| By: | Gunnar Lindberg; Lasse Fridstrøm |
| Abstract: | An increase in the market share of electric vehicles is one possible policy strategy for greenhouse gas (GHG) abatement. Many governments have introduced schemes to increase the market uptake – fiscal incentives, subsidies and various regulatory policies such as support for charging stations, free parking facilities or access to restricted road lanes as well as R&D funding. A number of partial studies do exist, but the comprehensive comparative study on the effect of these different incentives has yet to be done. Based on the experience until today it is, however, possible to explore the policy options. |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2015/16-en&r=all |
| By: | Viktor Slavtchev; D. Göktepe-Hultén |
| Abstract: | We empirically analyze whether support by the parent organization in the early (nascent and seed) stage speeds up the process of commercialization and helps spin-offs from public research organizations generate first revenues sooner. To identify the impact of support by the parent organization, we apply multivariate regression techniques as well as an instrumental variable approach. Our results show that support in the early stage by the parent organization can speed up commercialization. Moreover, we identify two distinct channels - the help in developing a business plan and in acquiring external capital - through which support by the parent organization can enable spin-offs to generate first revenues sooner. |
| Keywords: | academic entrepreneurship; support; TTO; commercialization; time to market |
| JEL: | L26 M13 O32 O31 O33 |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:iwh:dispap:16-15&r=all |
| By: | Hyun-Kyu KANG (Korea Institute of Science & Technology Evaluation and Planning) |
| Abstract: | In order to enhance the efficiency of research and development (R&D) investment, since 2008 the Korean government has applied the preliminary feasibility study (PFS) to newly proposed government R&D programs of which total budget exceeding about $50 million including about $30 million or more in government expenditure. The PFS on R&D programs is an ex-ante evaluation that is performed in point of views of technology, policy and economy. Since 2008 the PFS was conducted to over 120 R&D programs.For maintaining the consistency of evaluation, the first edition of ‘the standard guideline of PFS for R&D program’ was published in late 2011 by Korea Institute of Science & Technology Evaluation and Planning. By using the standard guideline, the integrity of analysis has been further improved. Even after the publication of the 1st edition of the standard guideline, the study for improving and developing analytical methods was carried out on an ongoing basis. As the result of the study, the 2nd edition of the standard guideline was published at the end of 2014. In this paper, the main contents of the 2nd edition of the standard guideline are explained. |
| Keywords: | Preliminary feasibility study, Ex-ante evaluation, Government R&D program, Standard guideline, Logic model |
| JEL: | D81 O32 O38 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805212&r=all |
| By: | HIRAGUCHI Ryoji |
| Abstract: | We investigate a simple continuous-time overlapping generations model with a neoclassical production function and technological progress. We demonstrate that the degree of wealth inequality is positively related to the difference between the real interest rate <i>r</i> and the growth rate of income per capita <i>g</i>, and if <i>g</i> falls, the <i>r-g</i> gap widens and inequality worsens. We also argue that a wealth tax reduces the wealth inequality. All of these results are consistent with the famous predictions advanced by Thomas Piketty in <i>Capital in the Twenty-First Century</i> (2014). We next investigate consumption tax and find that it enhances capital accumulation and reduces <i>r-g</i>, and thus wealth inequality. |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:15117&r=all |
| By: | Edward L. Glaeser; Giacomo A. M. Ponzetto; Yimei Zou |
| Abstract: | Should China build mega-cities or a network of linked middle-sized metropolises? Can Europe’s mid-sized cities compete with global agglomeration by forging stronger inter-urban links? This paper examines these questions within a model of recombinant growth and endogenous local amenities. Three primary factors determine the trade-o¤ between networks and big cities: local returns to scale in innovation, the elasticity of housing supply, and the importance of local amenities. Even if there are global increasing returns, the returns to local scale in innovation may be decreasing, and that makes networks more appealing than mega-cities. Inelastic housing supply makes it harder to supply more space in dense con…fines, which perhaps explains why networks are more popular in regulated Europe than in the American Sunbelt. Larger cities can dominate networks because of amenities, as long as the benefits of scale overwhelm the downsides of density. In our framework, the skilled are more likely to prefer mega-cities than the less skilled, and the long-run benefits of either mega-cities or networks may be quite different from the short-run benefits. |
| Keywords: | cities, Networks, growth, Migration |
| JEL: | R10 R58 F15 O18 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:841&r=all |
| By: | Sungho Cho (KISTEP (Korean Institute of Science & Technology Evaluation and Planning)) |
| Abstract: | The goals of R&D Budgeting are to provide the outlays of government R&D budget allocation and adjustment for the strategic investment in government R&D programs, and it is directly followed by establishing the directions and the standards in overall government R&D investments and related budget deliberation.R&D investment follows the policy coordination, in particular. Policy coordination provides guidelines to program coordination. Policy coordination will provide R&D programs with S&T goals and proper budget estimates. It must ensure that the goals are reached through the most efficient ways. Thus, it is important not only to follow the strategy plan and to track the development in reaching the objectives, but also to continuously monitor changes in the R&D environment and eventually to adapt the activities to new circumstances. In other words, the detailed investment strategies in association with S&T policies and technology development status which are subject to global environment changes are investigated. There can be many ways to deal with it. Here, Korea’s case study will be introduced and it has been evolved for finding effective and efficient way to invest at this moment. This paper will cover the concepts of R&D program coordination and budget allocation, their roles in future growth engine in KOREA. First, Korea’s case of establishing government R&D direction and standards will be introduced. It let us to share the main ideas and procedures of S&T policy/technology priority setting. Second, budget allocation in program point of view and detail procedure will be presented. Also, brand new results of Korea’s R&D program coordination and budget allocation will be introduced in practical sense. |
| Keywords: | Budget allocation, Future growth engine, Priority setting, Program coordination, KOREA |
| JEL: | O32 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805190&r=all |
| By: | Steffen Roth (ESC Rennes School of Business - ESC Rennes School of Business) |
| Abstract: | "Abstract: Since 3D printing technology has been available as early as in the early 19th century, the present article start from the question why this radical and probably disruptive technology has been observed as only incremental innovation for so long time. In answering this question, we assume that this incrementalization of the supposed key to the next industrial revolution occurred due to circumstances that complicated and complexed the observation, with the most important of which being that 3D printers do not print on the medium, but rather print the medium, which emerges as form. In this article, this paradox is unfolded in the form of a form-theoretical theory statement on the inherently paradox nature of observation, subsequent to which 3D printing can be observed as both form and medium. In exploring this paradox, we will show that suppliers of 3D printing solutions currently try to sell 3D printing as form, whereas demanders observe 3D printing as medium. In focussing the latter side of the distinction, we finally suggest that the key to successful 3D printing business models will be in solutions that relate observations of the technological multifunctionality of 3D printing to a social multifunctionality lens. [...]" Steffen Roth |
| Keywords: | 3D printing,Golden moment,Customer Relationship Management,Marketing Strategy |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01206562&r=all |
| By: | Mehdi Senouci (Université Paris Saclay, CentraleSupélec, Laboratoire Genie Industriel) |
| Abstract: | We present a new way to picture technological change in an otherwise standard Ramsey framework. Technological change takes the form of alterations of the production function itself, rather than changes in total factor productivity. These changes can take two directions that we dub respectively ‘complementation’ and ‘substitution’. Complementation results in a production function that is superior for lower values of capital, while substitution results in a production function that is superior for higher values of capital. Under the most general conditions, when the agent is initially at steady state, both options bring strictly positive utility gains to the agent. We analyze sequence of steady states with exogenous and endogenous direction of technological change. With exogenous growth, we prove that when the production functions are Cobb-Douglas or CES (with the same elasticity of substitution), output and consumption grow asymptotically at a common rate and the capital share tends to one under continual substitution; while continual complementation makes output and consumption converge to a common limit and the capital share tend to nil. With endogenous direction of technological change and under the most general conditions, the agent has a bias towards complementation which brings quicker gains than substitution. We assume that the production functions are Cobb-Douglas and that utility is logarithmic. Then, when the potential rate of complementation is strictly greater than the potential rate of substitution, the labor share oscillates around some endogenous long-run value, determined by the rates of complementation/substitution and by the impatience rate. This growth regime reproduces the Kaldor facts. |
| Keywords: | endogenous growth theory., capital-labor substitution,Economic growth, labor share |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01206032&r=all |
| By: | Schymik, Jan Simon |
| Abstract: | Do international trade and technological change influence how firms create incentives for human capital? I present a model that incorporates agency problems into a framework with firm heterogeneity and human capital. My model indicates that trade liberalizations and skill-biased technological change alter the way how the largest firms in an economy incentivize their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and entrenchment opportunities in public industrial firms in the U.S., I document strong empirical regularities in support of the model predictions. Firms allow for more managerial entrenchment and offer larger CEO compensation when their industries become more open to trade or when production becomes more I.T. intensive. |
| Keywords: | International Trade and Firm Organization; Agency Problems in International Trade; Endogenous Managerial Entrenchment; Corporate Governance and CEO Compensation |
| JEL: | F1 F16 G34 J33 L22 O33 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:trf:wpaper:525&r=all |
| By: | Donald MacKenzie; Juan Pablo Pardo-Guerra |
| Abstract: | Drawing on recent discussions of the material cultures of markets and of financial innovation as bricolage, this paper explores the development of Island, a new share-trading venue set up in 1995. We examine Island's roots in a very specific conflict in the US financial markets and in the information libertarianism of 'hacker culture', and examine the material bricolage involved in Island's construction. The paper also outlines the processes that led to a dramatic 'Latourian' change of scale: Island was originally a 'micro' development on the fringes of US markets, but within little more than a decade key features of Island became close to compulsory, as the nature of North American and Western European share trading changed utterly. |
| Keywords: | bricolage; high-frequency trading; Island; matching engine; materiality; social studies of finance |
| JEL: | G14 G15 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:57549&r=all |
| By: | Giebel, Marek; Kraft, Kornelius |
| Abstract: | This paper investigates the impact of the financial crisis on investment decisions in innovative versus non-innovative firms. Firms are defined as being innovative if they have introduced a new product to the market. The empirical test is based on data for the years before and after the recent financial crisis. Probit estimations show that innovative firms are more likely to suffer from the financial crisis and to reduce their investment expenditures in general. To some extent these reductions are due to problems in the acquisition of external capital. Using difference-in-differences methods, it turns out that innovative firms realize the same reduction in growth rates in turnover, but a stronger reduction in investment growth than non-innovative firms. |
| Keywords: | financial crisis,innovation,investment,credit constraints,difference-in-differences |
| JEL: | G01 G30 O16 O30 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:15069&r=all |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Sanandaji, Tino (Institute for Economic and Business History Research (EHFF)) |
| Abstract: | In some classes of models, taxes at the owner level are “neutral” and have no effect on firm activity. However, this tax neutrality is sensitive to assumptions and no longer holds in more complex models. We review recent research that incorporates greater complexity in studying the link between taxes and business activity – particularly entrepreneurship. Dividend taxes on owners of large firms affect firm activity in models that include agency conflicts between owners and managers. Similarly, after incorporating entrepreneurs’ occupational choice into the model, taxes are no longer neutral. By forsaking lucrative alternative careers, skilled entrepreneurs tend to have high opportunity costs, which make the choice of attempting to start a business of first order importance. Moreover, in models where it is assumed that capital flows across borders without cost, taxes on domestic business owners do not alter business activity because foreign capital seamlessly compensates for tax-induced declines in investments. This theoretical notion is contradicted by the strong “home bias” observed in business ownership, in particular for small firms and startups without easy access to international capital markets. Recent empirical work has emphasized that taxes have heterogeneous effects on mature firms, entrepreneurial startups, and owner-managed small firms. Lowering dividend taxes on firms with dispersed ownership has been shown to shift capital from mature firms into rapidly growing firms. Moreover, capital gains taxation tends to reduce the number of innovative startups and diminish venture capital activity, while high owner-level taxes encourage small business activity and non-entrepreneurial self-employment because such firms have more opportunities to avoid or evade taxes. To obtain efficient incentives in entrepreneurial startups, contractual terms are required that ex ante guarantee that all providers of critical inputs, especially equity constrained entrepreneurs, are entitled to a share of the resulting capital value firm. Unless properly designed, owner-level taxes prevent such ex ante contracting and thus lower the likelihood of eventual success. |
| Keywords: | Business taxation; Capital income taxation; Corporate governance; Entrepreneurship; Institutions; Tax policy |
| JEL: | H25 H26 H32 L26 |
| Date: | 2015–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1086&r=all |
| By: | Ţoniş BuceaManea, Rocsana; Catană, Mădălin Gabriel; Tonoiu, Sergiu |
| Abstract: | The SMEs represent an important factor of growth in both developed and developing countries, into which, however, they face different obstacles in the process of innovation. This paper analyses how open communication and collaboration can help SMEs in their struggle for sustainable innovation and profitable market competition. Based on a literature review, a number of obstacles that SMEs have to overcome in their current activity and possible support to be competitive are revealed. The main benefits and particularities of implementing open innovation in SMEs are presented. The necessity of a supportive business environment for SMEs is demonstrated. An outline of an improved model for SMEs is presented. Introduction |
| Keywords: | open innovation, small and medium-sized enterprises (SMEs), network business environment, technological infrastructure, legal framework, model of innovation for SMEs. |
| JEL: | M15 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:67060&r=all |
| By: | Mehdi Senouci (CentraleSupélec, Laboratoire Genie Industriel, Université Paris Saclay) |
| Abstract: | The relative price of capital (or equipment) goods with respect to consumption goods is strongly, negatively correlated with income per capita in cross-sections of countries. This stylized fact suggests that economic growth takeoffs are associated with changes in the direction of technical change. It also suggests that increases in productivity that are embodied in capital goods lead to relatively quicker growth. The goal of this paper is to explore the message of the discrete-time Ramsey model with logarithmic utility, augmented with endogenous direction of technical change. We suppose that the representative agent, while initially at steady state, is offered the possibility to increase either labor-augmenting productivity or investment-specific productivity. We derive the marginal increase in utility from each option. We find that when the elasticity of substitution, the capital share and the rate of impatience lie within the usual ranges, investment-specific technological change is relatively undervalued, because its fruits take relatively more time to materialize. This approach reflects some interesting ideas on the macroeconomics of structural change. However, its predictions stand at odds with cross-country evidence as well as with the early British growth experience (~1770–1913). We argue that the fixity of the production function constitutes a major obstacle for a consistent theory of the direction of technological changes on neoclassical bases. |
| Keywords: | Economic growth, investment-specific technical change, elasticity of substitution |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01206029&r=all |
| By: | Michel Vigezzi (CREG - Centre de recherche en économie de Grenoble - Grenoble 2 UPMF - Université Pierre Mendès France) |
| Abstract: | From three texts by Jean-Baptiste Say (Olbie ... 1800, Full Course…1819 and a Letter to Malthus in 1820 processing machinery) and a historical approach to technical changes of this period, we will make three observations : 1. Say-entrepreneur is at the heart of the industrial revolution but can not have an overall vision... ; 2. His multiform social status can't develop this overall vision and leads to an descriptive vision favoring the recensions... ; 3. Despite this absence, Say was one of the first economists to focus on the technical changes despite a conflict between his approach in terms of production and his conclusions focused on the creation of utilities and income distribution and expenses. In conclusion, we shall identify a second "Law of Say": the increasing difficulty of financing innovations and of their developments lead to the cancellation of their disadvantages. |
| Abstract: | À partir de trois textes de Jean-Baptiste Say (Olbie… de 1800, Cours complet… de 1819 et une Lettre à Malthus en 1820 traitant des machines) et d'une approche historique des changements techniques de cette période, nous formulerons trois constats : 1. Say-entrepreneur est au coeur de la révolution industrielle mais ne peut en avoir une vision d'ensemble… ; 2. Son statut social multiforme l'empêche de développer cette vision d'ensemble et le conduit à une vision descriptive privilégiant les recensions… ; 3. Malgré cette absence, Say a été l'un des premiers économistes à s'intéresser aux changements techniques même si une contradiction apparaît entre son approche en terme de production et ses conclusions centrées sur la création d'utilités et sur la répartition des revenus et des charges. En conclusion, on identifiera ainsi une seconde "Loi de Say" : les difficultés croissantes du financement des innovations et leur développement conduisent à l'annulation de leurs inconvénients. |
| Keywords: | changement technique , économiste , entrepreneur , industrie , industrie textile , innovation , pensée économique , révolution industrielle |
| Date: | 2014–08–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01204791&r=all |
| By: | Falck, Oliver (Ifo Institute for Economic Research); Gold, Robert (Kiel Institute for the World Economy); Heblich, Stephan (University of Bristol) |
| Abstract: | We exploit Germany's reunification to identify how school-age education affects entrepreneurial intentions. We look at university students in reunified Germany who were born before the Iron Curtain fell. During school age, all students in the West German control group received formal and informal education in a free-market economy, while East German students did or did not receive free-market education. Difference-in-differences estimations show that school-age education in a free-market economy increases entrepreneurial intentions. An event study supports the common-trends assumption. Results remain robust in matched samples and when we exploit within-student variation in occupational intentions to control for unobserved individual characteristics. |
| Keywords: | entrepreneurship, socialism, formal education, informal education |
| JEL: | L26 I21 J24 P30 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9373&r=all |
| By: | Singh, K.M. |
| Abstract: | During the past 60 years, the Indian extension system has evolved to reflect national priorities. At the same time, malnutrition and poverty continue to be persistent problems for the rural poor. The major issues before Indian extension system are: how to improve the effectiveness of extension systems? How to serve the small land holders and marginal farmers in diversified farming systems, and proper allocation of funds, human resources and its management? The World Bank funded Innovations in Technology Dissemination (ITD) component of National Agricultural Technology Project (NATP) focused on bottom-up planning process for technology assessment, refinement and dissemination in order to make the whole extension system demand-driven and farmer accountable. This has helped to strengthen research and extension capabilities, restructure public extension services and test new institutional arrangements for technology transfer with the involvement of all the stakeholders of Government and Non-Government agencies at the district level. |
| Keywords: | ATMA, Agricultural Extension, |
| JEL: | Q1 Q16 Q18 |
| Date: | 2015–10–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:67134&r=all |
| By: | SALWANA HASSAN (Universiti Teknologi Mara) |
| Abstract: | Poverty in rural Malaysia remains unresolved and contribute7.8% to the whole poverty figure in Malaysia. Among the rural folks, 50% is women. Thus, women, as the significant human capital to fight the long lost battle of poverty, are indispensable. This will also serve as an equal opportunity for women to play active and positive roles to develop the society that has been the tasks for men all this while. More importantly rural women folks have the potential to offer better quality of life for their family by providing extra income and monetary support whenever their husbands are not able to work. The reality in this , however, cannot be solved easily as there are many factors that stand in the way and prevent the resolutions to be observed.In this regard, this paper describes a model that has been used to resolve such issues in rural Malaysia. The model utilizes a synergetic effort between an academic institution, an NGO that govern the rural women folks and a private trading company that sell the finished product. The project was conducted in rural area of Selangor and has been in operations since the end of 2013. It shows positive outcome in terms of improving the productivity and income of the participants by more than 200%. The living condition of those involved also has shown tremendous improvement and model could be used in other rural areas of Malaysia. The project captures the influence of the NGO programs upon rural women entrepreneurship and how a private trading company can facilitate to help develop a community. As a result the project reveals that self-income generating activities by entrepreneurship are the important contributing factor to empowering rural women folks in Malaysia. |
| Keywords: | poverty, empowerment, rural, entrepreneurship, community |
| JEL: | L26 O10 D71 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805148&r=all |
| By: | Adeline Pelletier (London School of Economics (LSE) in London) |
| Abstract: | The banking sector in East Africa has evolved considerably over the last 10-15 years with the regional expansion of African banks, coupled with financial innovations and regulatory changes. As a result, the banking landscape is marked by the co-existence of several types of banks: global banks from developed countries, emerging banks (mainly from Asian countries), foreign regional African banks and domestic African banks. Given the difficulty of access to credit experienced by SMEs, in a context of low transparency and information on borrowers, the expansion of regional African banks could have an important impact on the financial and economic development of the region. Indeed, if these regional banks are better able to evaluate SME credit risk than global banks, they might offer more loans to SMEs, thus fostering a sector which is the backbone of East African economies. In a constrained institutional setting, with a large unbanked population and little information available on borrowers, how do foreign and domestic banks screen and monitor borrowers? To what extent do regional African banks’ lending practices and perception of the business environment differ from that of domestic African banks and of global banks? What is the impact of the regional expansion of African banks on SME financing? |
| Keywords: | Finance, Kenya, Development |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01205271&r=all |
| By: | Sandra Perks (Nelson Mandela Metropolitan University); Jode May (Nelson Mandela Metropolitan University) |
| Abstract: | Purpose of the study: The purpose of this paper was to investigate who should and can act as change leaders in South Africa to affect environmental sustainability. Research design and methodology: A qualitative research paradigm was used, in particular an exploratory and descriptive approach where the aim was to identify who should and can act as change leaders, and to describe their leadership styles and qualities necessary to increase organisational environmental sustainability. Purposive and snowball sampling was utilised. The criteria for inclusion in the sample required that the environmental sustainability leaders interviewed were on a senior environmental management level and actively involved in environmental sustainability issues in the workplace. A final sample of 13 leaders from different sectors, in both the private and public sectors in three provinces; Gauteng, the Western Cape and the Eastern Cape in South Africa, were obtained. Data was collected by conducting face-to-face, email and telephonic interviews and analysed using content analysis and the constant comparison method. Trustworthiness was ensured as the participants were identified through an Internet search and their positions in the organisation could be confirmed on their website. Their environmental sustainability actions were outlined in their annual reports on their websites.Research findings: Most participants chose well-known leadership styles associated with change such as visionary, transformational or charismatic. Change leadership qualities could be related to the personality traits of the participants, relationship- or entrepreneurial orientated. No conclusive evidence was found whether females are a better choice in driving organisational environmental sustainability. Research limitations: The sample was only limited to large South African companies, which are obliged to report on their environmental sustainability actions. Other business forms and smaller organisations were not included in the sample as most of these organisations do not have to report on environmental sustainability actions. Practical implications: When choosing leaders to drive environmental sustainability, leaders that display a change leadership style should be chosen. The change leaders chosen to drive environmental sustainability, should have the desired personality traits, be relationship and entrepreneurial orientated, so to obtain commitment from subordinates. Contribution of paper: This paper contributes towards the body of knowledge with regards to which leadership qualities and styles could be utilised if organisations wish to implement environmental sustainability actions in South Africa or any other country for that matter. |
| Keywords: | Change leadership; environmental sustainability; Leadership qualities; Leadership stylea |
| JEL: | Q56 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2805129&r=all |