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on Innovation |
| By: | Eric Helland; Seth A. Seabury |
| Abstract: | The use of “pay-for-delay” settlements in patent litigation – in which a branded manufacturer and generic entrant settle a Paragraph IV patent challenge and agree to forestall entry – has come under considerable scrutiny in recent years. Critics argue that these settlements are collusive and lower consumer welfare by maintaining monopoly prices after patents should have expired, while proponents argue they reinforce incentives for innovation. We estimate the impact of settlements to Paragraph IV challenges on generic entry and evaluate the implications for drug prices and quantity. To address the potential endogeneity of Paragraph IV challenges and settlements we estimate the model using instrumental variables. Our instruments include standard measures of patent strength and a measure of settlement legality based on a split between several Circuit Courts of Appeal. We find that Paragraph IV challenges increase generic entry, lower drug prices and increase quantity, while settlements effectively reverse the effect. These effects persist over time, inflating price and depressing quantity for up to 5 years after the challenge. We also find that eliminating settlements would result in a relatively small reduction in research and development (R&D) expenditures. |
| JEL: | I1 K0 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22194&r=ino |
| By: | Ernest Miguélez (GREThA, University of Bordeaux & AQR Research Group-IREA. University of Barcelona); Rosina Moreno (AQR Research Group-IREA. University of Barcelona) |
| Abstract: | This paper has two main objectives. First, it estimates the impact of related and unrelated variety of European regions’ knowledge structure on their patenting activity. Second, it looks at the role of technological relatedness and extra-local knowledge acquisitions for local innovative activity. Specifically, it assesses how external technological relatedness affects regional innovation performance. Results confirm the strong relevance of related variety for regional innovation; whereas the impact of unrelated variety seems relevant only for the generation of breakthrough innovations. The study also shows that external knowledge flows have a higher impact, the higher the similarity between these flows and the extant local knowledge base. |
| Keywords: | Variety; Patents; Patent citationsM Relatedness; Knowledge production function. JEL classification: O18; O31; O33; R11 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:201603&r=ino |
| By: | Gaétan de Rassenfosse; Adam B. Jaffe; Elizabeth Webster |
| Abstract: | Low-quality patents are of considerable concern to businesses operating in patent-dense markets. There are two pathways by which low-quality patents may be issued: the patent office may apply systematically a standard that is too lenient (low inventive step threshold); or the patent office may grant patents that are, in fact, below its own threshold (so-called ‘weak’ patents). This paper uses novel data from inventions that have been examined at the five largest patent offices and an explicit model of the grant process to derive first-of-their-kind office-specific estimates of the height of the inventive step threshold and the prevalence of weak patents. The empirical analysis is based on patent applications granted at one office but refused at another office. We estimate that the fraction of patent grants associated with a patent standard that is lower than that of other countries ranges from 2-15%, with Japan having the tightest standard and the United States and China the loosest. The fraction of grants that are inconsistent with the office’s own standard ranges from 2-6 per cent. The fraction of grants that are inconsistent in this sense is generally higher in newer fields such as software and biotechnology, and lower in traditional fields such as mechanical engineering. Our estimates of invalidity are much lower than those that have been derived from litigation studies, consistent with litigated patents being highly non-representative of the population. |
| JEL: | K41 L43 O34 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22244&r=ino |
| By: | Albert Banal-Estañol; Inés Macho-Stadler; David Pérez-Castrillo |
| Abstract: | We study what makes a research grant application successful in terms of ability, type of research, experience, and demographics of the applicants. But our main objective is to investigate whether public funding organizations support the teams that are most likely to undertake transformative or "radical" research. Making use of the literature on recombinant innovation, we characterize such "radical teams" as those formed by eclectic and non-usual collaborators, and those that are heterogeneous and scientifically diverse. Our results, using data from the UK's Engineering and Physical Sciences Research Council (EPSRC), show that the more able, more basic, and more senior researchers, working in a top university, are more likely to be successful. But, radical teams are less likely to be funded by funding bodies. Our analysis of the research output of the awarded projects suggests that, voluntarily or involuntarily, the evaluation process in these organizations is biased against radical teams. |
| Keywords: | Radical innovation, funding organizations, research grants |
| JEL: | O32 I23 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:1518&r=ino |
| By: | Thanh Le (University of Qeensland and Flinders University); Cuong Le Van (Centre d'Economie de la Sorbonne - Paris School of Economics, IPAG Business School) |
| Abstract: | This paper discusses the impact of trade liberalisation and R&D policies on exporting firms' incentive to innovate and social welfare. Key factors determining the government's optimal policy are the strength of R&D spillover effect and the toughness of firm competition. When firms only compete in an overseas market, the optimal policy is to tax R&D. Trade liberalisation in the overseas market induces a higher R&D tax rate to be imposed on firms. When firms also conduct business in the home market, the government should financially support firms' R&D. Trade liberalisation always increases firms' output sales, R&D investments, and social welfare |
| Keywords: | Trade; R&D spillovers; subsidies; welfare; process innovation |
| JEL: | F12 F13 F15 O31 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:16028&r=ino |
| By: | M. E. Bontempi; L. Lambertini; E. Medeossi |
| Abstract: | Studies about innovation find evidence of a positive relationship between technological advancement and firm performance, in particular when the innovative effort is continuous. This paper aims to further the analysis on the duration of R&D investment at the firm level. The contribution of this study is threefold: first, we extend Máñez et al. [2014], Triguero et al. [2014] analysis for Spain to the Italian case: we use a panel of manufacturing and service companies, thus enlarging the view of R&D duration within the European countries. Secondly, from a methodological point of view, we employ both discrete- and continuous-time duration models, in order to test the Proportional Hazards (PH) assumption, i.e. the assumption that the hazard rate is equivalent over time across groups. Last, but not least, we assess whether a firm’s likelihood of continuing investment in R&D depends on the market power of companies. We test alternative measures for market power: the classical price-cost margin and a new proxy for the firm demand elasticity, obtained from a specific survey question. Results are in line with the hypothesis that R&D presents considerable temporal spill overs and strong persistence, even once unobserved heterogeneity is controlled for. Also, we argue that the appropriate proxy for market power is the firm demand elasticity, and we find support for the Schumpeterian hypothesis. |
| JEL: | C23 C41 D22 G32 L10 O30 |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp1057&r=ino |
| By: | Castellani, Davide (Henley Business School, University of Reading); Piva, Mariacristina (Università Cattolica del Sacro Cuore); Schubert, Torben (CIRCLE, Lund University); Vivarelli, Marco (Università Cattolica del Sacro Cuore, IZA, UNU-MERIT) |
| Abstract: | Using data on the US and EU top R&D spenders from 2004 until 2012, this paper investigates the sources of the US/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially in the high-tech industries), and this contributes to explaining the higher productivity of US firms. Conversely, EU firms are more likely to achieve productivity gains through capital-embodied technological change at least in medium and low-tech sectors. Our results also show that the US/EU productivity gap has worsened during the crisis period, as the EU companies have been more affected by the economic crisis in their capacity to translate R&D investments into productivity. Based on these findings, we make a case for a learning-based and selective R&D funding, which - instead of purely aiming at stimulating higher R&D expenditures - works on improving the firms’ capabilities to transform R&D into productivity gains. |
| Keywords: | R&D; productivity; economic crisis; US; EU |
| JEL: | O33 O51 O52 |
| Date: | 2016–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2016_015&r=ino |
| By: | Alessandro Nuvolari; Michelangelo Vasta |
| Abstract: | In this paper we provide a systematic appraisal of the spatial patterns of inventive activity in Italy in the period 1861-1913. Our main source of evidence is a data-set containing all patents granted in Italy in five benchmark years (1864-65, 1881, 1891, 1902, 1911). Our geographical unit of analysis is the province, an administrative district of the time. First, using some simple descriptive statistics, we introduce a characterization of the spatial distribution of patents and of its evolution over time. Second, we perform an econometric exercise in which we assess the connection between different forms of human capital and patent intensity. We are able to establish a robust correlation between literacy and “basic” patent intensity and robust correlation between secondary technical education and scientific and engineering studies and “high quality” patent intensity. Third, we study the connection between patents and industrialization. Our exercise shows that patents exerted a significant role in accounting for the level of industrial production. Interestingly enough, in this context, the role of patents was possibly more relevant than that of the availability of water-power and of the level of real wages (two factors that were pointed out by the previous literature, mostly on the basis of rather impressionistic accounts of the evidence). Our study warrants two main conclusions. First, domestic inventive activities were an important element of the industrialization process, even in a late-comer country such as Italy. Second, at the time of the unification, Northern provinces were characterized by more effective innovation systems. This factor contributes to explain the growing divide in economic performance between the North and the South of the country during the Liberal age |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:usi:wpaper:724&r=ino |
| By: | Bostjan Udovic (Independent expert); Maja Bucar (Independent expert); Hristo Hristov (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Slovenia |
| JEL: | I20 O30 Z18 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101219&r=ino |
| By: | Kelchtermans Stijn (Catholic University of Leuven); Zacharewicz Thomas (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Belgium |
| JEL: | I20 O30 Z18 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101167&r=ino |
| By: | Cette, Gilbert (Banque de France); Fernald, John G. (Federal Reserve Bank of San Francisco); Mojon, Benoit (Banque de France) |
| Abstract: | In the years since the Great Recession, many observers have highlighted the slow pace of productivity growth around the world. For the United States and Europe, we highlight that this slow pace began prior to the Great Recession. The timing thus suggests that it is important to consider factors other than just the deep crisis itself or policy changes since the crisis. For the United States, at the frontier of knowledge, there was a burst of innovation and reallocation related to the production and use of information technology in the second half of the 1990s and the early 2000s. That burst ran its course prior to the Great Recession. Continental European economies were falling back relative to that frontier at varying rates since the mid-1990s. We provide VAR and panel-data evidence that changes in real interest rates have influenced productivity dynamics in this period. In particular, the sharp decline in real interest rates that took place in Italy and Spain seem to have triggered unfavorable resource reallocations that were large enough to reduce the level of total factor productivity, consistent with recent theories and firm-level evidence. |
| JEL: | D24 E23 E44 F45 O47 |
| Date: | 2016–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedfwp:2016-08&r=ino |
| By: | Frietsch, Rainer; Neuhäusler, Peter; Rothengatter, Oliver; Jonkers, Koen |
| Abstract: | [Introduction] The aim of this working paper is the provision of a list of IPC classes assigned to each of the technology-oriented Societal Grand Challenges (SGCs) of Horizon2020 and the description of the methods and workings steps that have led to this list. Patents are a vested right on the exclusive use of a certain technological solution. In consequence, patent data can only be collected for technology-driven or at least partially technology-affected areas. In terms of the Societal Grand Challenges, we see that six out of seven of them have at least in part a technology-affection, while one - namely "Europe in a changing world, inclusive, innovative and reflective societies" - can hardly be defined based on patent classes. We are fully aware of the fact that the Societal Grand Challenges have other, non-technical dimensions, which cannot be grasped on the basis of patents or patent statistics. Therefore, the aim of this paper is to provide a definition of the technological dimensions of the Societal Grand Challenges, while other dimensions will not be addressed. Next to definitions of patent classes for the six Grand Challenges, also definitions of the sub-fields of the Societal Grand Challenges will be provided. [...] |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisidp:53&r=ino |
| By: | Johannes Herrmann; Ivan Savin |
| Abstract: | The diffusion of renewable electricity generating technologies is widely considered as crucial for establishing a sustainable energy system in the future. However, the required transition is unlikely to be achieved by market forces alone. For this reason, many countries implement various policy instruments to support this pro- cess, also by re-distributing related costs among all electricity consumers. This paper presents a novel history-friendly agent-based study aiming to explore the efficiency of different mixes of policy instruments by means of a Differential Evolution algorithm. Special emphasis of the model is devoted to the possibility of small scale renewable electricity generation, but also to the storage of this electricity using small scale facilities being actively developed over the last decade. Both combined pose an important instrument for electricity consumers to achieve partial or full autarky from the electricity grid, particularly after accounting for decreasing costs and increasing efficiency of both due to continuous innovation. Among other things, we find that the historical policy mix of Germany introduced too strong and inflexible demand-side instruments (like feed-in tariff ) too early, thereby creating strong path-dependency for future policy makers and reducing their ability to react to technological but also economic shocks without further increases of the budget. |
| Keywords: | differential evolution; electricity storage; energy grid; feed-in tariff; renewable energy. |
| JEL: | C63 Q41 Q42 Q48 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2016-16&r=ino |
| By: | David de la Croix (Universite Catholique de Louvain); Matthias Doepke (Northwestern University); Joel Mokyr (Northwestern University) |
| Abstract: | In the centuries leading up to the Industrial Revolution, Western Europe gradually pulled ahead of other world regions in terms of technological creativity, population growth, and income per capita. We argue that superior institutions for the creation and dissemination of productive knowledge help explain the European advantage. We build a model of technological progress in a pre-industrial economy that emphasizes the person-to-person transmission of tacit knowledge. The young learn as apprentices from the old. Institutions such as the family, the clan, the guild, and the market organize who learns from whom. We argue that medieval European institutions such as guilds, and specific features such as journeymanship, can explain the rise of Europe relative to regions that relied on the transmission of knowledge within extended families or clans. |
| Keywords: | apprenticeship, guilds, clans, dissemination of knowledge, population growth |
| JEL: | E02 J24 N10 N30 O33 O43 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:hka:wpaper:2016-008&r=ino |
| By: | Michael Fritsch (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Sandra Kublina (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | This paper investigates the effect of related and unrelated variety on regional growth in West Germany. In particular, we analyze the role of regional absorptive capacity and new business formation for these effects. We find that West German regions benefit from both types of varieties. The positive effect of unrelated variety on growth is more pronounced in regions with higher levels of absorptive capacity in terms of R&D activities and with higher levels of new business formation. Such moderating effects cannot be found for related variety. |
| Keywords: | Related variety, unrelated variety, knowledge spillovers, regional absorptive capacity, entrepreneurship, regional growth |
| JEL: | R11 R12 D62 |
| Date: | 2016–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2016-009&r=ino |
| By: | Mehlhorn, Joey; Tewari, Rachna; Parrott, Scott; Pruitt, Ross |
| Abstract: | In the fall 2014, a cohort innovation program was developed for undergraduate students to increase business skills and entrepreneurial capacity. The program focused on three primary areas: soft skills, critical thinking skills, and work experience. Students were pre-screened and selected based on an interview process related to potential, not GPA. The program utilized several unique teaching environments including the use of industry mentors, flipped classrooms, internships, video blogs, and student led program development. Students participated in innovation pitch sessions throughout the program to help develop entrepreneurial skills. Post participation surveys revealed that the program improved soft skills and the ability to work effectively in unfamiliar environments. Major improvements were seen in teamwork skills, project management leadership, and business and communication skills. Participants stated that the program motivated and empowered them to become industry ready innovators. |
| Keywords: | innovation, student learning outcomes, agribusiness, Teaching/Communication/Extension/Profession, |
| Date: | 2016–02–06 |
| URL: | http://d.repec.org/n?u=RePEc:ags:saea16:229778&r=ino |
| By: | Cary Deck (University of Arkansas); Erik O. Kimbrough (Simon Fraser University) |
| Abstract: | We report an experimental test of alternative rules in multi-stage innovation contests when success may not be feasible and contestants may learn from each other. Following Halac et al. (forthcoming), the planner can vary the prize allocation rule from Winner-Take-All in which the rst successful innovator receives the entire prize to Shared in which all successful innovators during the contest duration share in the prize. The planner can also vary the information disclosure policy from Public in which at each period, all information about contestants' past successes and failures is publicly available, to Private, in which contestants only know their own histories. In our setting, the theoretically optimal contest design depends on the probability of successful innovation, given that innovation is feasible. Under some parameters the designer will prefer a WTA-Public contest; while, under others he will prefer Shared-Private. Our experiments provide evidence that Private disclosure contests behaviorally dominate Public disclosure, regardless of the prize allocation rule, and moreover that Shared-Private contests dominate WTA-Private contests. |
| Keywords: | research and development, contests, experiments |
| JEL: | C7 C9 D4 D7 |
| Date: | 2016–04–02 |
| URL: | http://d.repec.org/n?u=RePEc:sfu:sfudps:dp16-08&r=ino |
| By: | Gustafsson, Anders (The Ratio institute and Jönköping School of Economics); Stephan, Andreas (The Ratio institute and Jönköping School of Economics); karlson, Nils (The Ratio institute); Hallman, Alice (The Ratio institute) |
| Abstract: | The governments of most advanced countries offer some type of financial subsidy to encourage firm innovation and productivity. This paper analyzes the effects of innovation subsidies using a unique Swedish database that contains firm level data for the period 1997-2011, specifically information on firm subsidies over a broad range of programs. Applying causal treatment effect analysis based on matching and a diff-in-diff approach combined with a qualitative case study of Swedish innovation subsidy programs, we test whether such subsidies have positive effects on firm performance. Our results indicate a lack of positive performance effects in the long run for the majority of firms, albeit there are positive short-run effects on human capital investments and also positive short-term productivity effects for the smallest firms. These findings are interpreted from a robust political economy perspective that reveals that the problems of acquiring correct information and designing appropriate incentives are so complex that the absence of significant positive long-run effects on firm performance for the majority of firms is not surprising. |
| Keywords: | Innovation subsidies; market failures; causal treatment effect evaluation; firm performance; CEM; robust political economy |
| JEL: | H25 O38 P16 |
| Date: | 2016–04–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0270&r=ino |
| By: | Angelo Castaldo ("Sapienza" University of Rome); Alessandro Fiorini ("Sapienza" University of Rome); Bernardo Maggi ("Sapienza" University of Rome) |
| Abstract: | Technological innovation is viewed as a major stimulus for economic growth. High-speed internet access via broadband infrastructure has been experiencing a prompt development since the end of 90s, thanks to the deployment of both fix and mobile technologies. The present study investigates on the behavior of broadband diffusion as a technological determinant of economic growth in the main OECD countries. The estimations performed allowed to control and interpret the time evolution of the phenomenon according to the achievable target of growth, as resulting from the promotion of broadband internet connections. Our main goal is to provide evidence of a relevant - in quantitative term - relation between broadband diffusion and economic dynamics in the short, medium and long run. |
| Keywords: | Broadband access, economic growth, technology diffusion, logistic curve, dynamic panel. |
| JEL: | L96 O47 O33 H54 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:sas:wpaper:20161&r=ino |
| By: | Clément Gorin (Université de Lyon, Lyon F- 69007, France; CNRS, GATE L-SE, Ecully, F- 69130, France; Université J. Monnet, Saint-Etienne, F- 42000, France) |
| Abstract: | Highly skilled professionals are regarded as one of the main driver for the economic development of cities through their effect on innovative capabilities. Skilled individuals are mobile in space and tend to cluster within a limited number of urban areas, therefore a crucial question is what factors shape this flows and influence the divergent levels of economic development across urban areas. Building on these considerations, this paper takes advantage of a large-scale dataset to shed light on the patterns and determinants of inventors’ mobility across European urban areas. First, a descriptive analysis is carried out to document the dynamics of inventors’ mobility and their spatial dimension. Second, a gravity model is used to analyse how job opportunities and socio-professional networks influence the flows of inventors between urban areas. From a methodological perspective, this paper uses a spatial filtering variant of the Poisson gravity model, which accommodate the nature of the data, while controlling for multilateral resistance and spatial autocorrelation in mobility flows. The descriptive analysis suggest that inventors’ mobility occurs primarily between relatively large and collocated urban areas, partly because of the high level of circular and intra-firm mobility. The econometric analysis shows that employment opportunities, social networks, as well as various forms of proximity are important determinants of inventors’ mobility. |
| Keywords: | Inventors’ mobility, urban areas, job opportunities, socio-professional network, Poisson gravity model, spatial filtering |
| JEL: | J61 O18 O31 O33 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:gat:wpaper:1615&r=ino |
| By: | Krzysztof Klincewicz (University of Warsaw); Katarzyna Szkuta (European Commission – JRC - IPTS) |
| Abstract: | The 2015 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Poland |
| JEL: | I20 O30 Z18 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101207&r=ino |
| By: | Takauchi, Kazuhiro |
| Abstract: | We show that under a fixed-price contract where an upstream firm first sets the input price and downstream firms subsequently invest in R&D, all firms can become worse off when considering two-way trade with firm-specific carriers. |
| Keywords: | Fixed-price contract; Firm-specific carriers; R&D; Two-way trade |
| JEL: | F12 L13 O31 R40 |
| Date: | 2016–05–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71413&r=ino |
| By: | GIULIANO, Genevieve; KNATZ, Geraldine; HUDSON, Nathan; SYS, Christa; VANELSLANDER, Thierry; CARLAN, Valentin |
| Abstract: | Six universities from Europe, Asia and the United States participated in an evaluation of the use of innovation in the port logistics and maritime sector. Led by the BNP Paribas Fortis Chair in Transport, Logistics and Ports from the University of Antwerp, the purpose of the study was to evaluate the decision-making process and adoption of innovation using quantitative tools. This paper focuses on one of those quantitative tools, cost benefit analysis. Seventy-four separate and highly diverse innovation projects undertaken by private businesses were examined to determine if a traditional cost benefit analysis was used as part of their decision-making process. The data showed that no projects performed comprehensive cost benefit analysis, although for some projects limited cost effectiveness data were collected after the innovation was implemented. Cost benefit analysis is both complex and time consuming. It is designed for public sector decision-making, where societal costs and benefits are of concern, and where alternative policy actions are evaluated. If these innovations were implemented mainly as a result of internal decisions, use of cost benefit analysis would not be expected. The data show that 37 (50%) of the innovation projects were undertaken because of external influences, 21 (28.3%) were purely internal company decisions and 16 (21.6%) were influenced by public subsidy. Several types of innovation projects examined in this research project could be candidates for a cost benefit or cost effectiveness assessment. These are projects where environmental benefits and costs can be quantified, or where quantifiable external benefits support public investment in capital costs or in an operating subsidy. It is found that port innovation would benefit from more formalized methods of project assessment. |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:ant:wpaper:2016001&r=ino |
| By: | Guerzoni, Marco; Jordan, Alexander (University of Turin) |
| Abstract: | This paper analyses culture as a determinant of technology adoption in a developing country. While the literature extensively discusses the influence of culture upon economic growth, little attention has been paid to the mechanisms that can explain this link at the micro level. In this paper, we postulate that culture may play a crucial role in hindering or fostering the adoption and diffusion of innovation, a key trigger of the engine of growth. We thus borrow from the literature on the economics of innovation, and we model the impact of culture upon households’ decision to adopt innovation. We focus on developing countries and specifically on the adoption of fertilizer in Ethiopian rural areas. This empirical study uses the Ethiopia Rural Household Survey† to attempt to differentiate between individual cultural traits, namely, ethnicity and religion, and the cultural homogeneity of the environment as co-determinants of fertilizer adoption. We thus apply a multivariate survival model for clustered and correlated observations and find a positive effect on the diffusion of fertilizer. Firstly, habits and social norms, proxied by ethnicity, provide a better explanation for the role of culture, than religious beliefs, as usually posited in the literature. Secondly, the cultural environment plays a decisive role. While a homogeneous ethnic environment accelerates the diffusion of fertilizer, a diverse religious background in a community creates an environment conducive to initial adoption. While the direct contribution of this paper relates to technology adoption at the micro level, we believe it represents a first step in gaining a better understanding of the relation between culture and growth at the micro level. |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:uto:labeco:201603&r=ino |
| By: | Zabich, Christin; Breßler, Julia |
| Abstract: | Dieses Paper ist motiviert durch die Suche nach einem Konzept für individuelle Innovationskompetenzen - jenem Vermögen, dass Individuen in innovativen Situationen und Veränderungskontexten einbringen. Wir fokussieren uns hierbei auf die deutsche Automobilindustrie und deren Kompetenzmanagement. So schließt sich eine Dokumentenanalyse an, die in einer Systematik für Innovationskompetenzen mündet. |
| Abstract: | This paper is motivated by the search for the individual innovation skills. Thereby, we focus on the German automotive industry and its competence management. Thus, a document analysis follows, which enables the construction of an interpretation scheme for individual innovation skills. |
| Keywords: | innovation skills,competence management,vocational training,education management |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:tucitm:61&r=ino |
| By: | Marianna Gilli (Department of Economics and Management, University of Ferrara, Italy.) |
| Abstract: | This paper aims to shed light on the role of environmental policies, technological change and their interaction, on CO2 emissions in Europe. Building on the literature, which studies the relationship between environmental performances and technological change, as well as the literature related to the effects of environmental policy, two hypothesis are framed: the first one is that both environmental policy and technological change have a negative effect on CO2 emissions level. The second one is that technological change and environmental policy are complementary determinants of a reduced CO2 level. Both a fixed effects model and IV model are applied. Results offer support to these hypothesis and highlight sectorial differences in policy and technology effects toward lower emissions levels. |
| Keywords: | technological change, environmental policy, pollution emissions |
| JEL: | L60 O33 Q53 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:0516&r=ino |
| By: | Mohammad Alizadeh Jamal (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran); Habib Safarzadeh (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran); seyed Jalal Langari (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran); Mouna bibi Langari (Emam Mohammad Bagher Branch, Farhangian University, Bojnord, Iran) |
| Abstract: | Objectives of education systems of various societies will face new challenges through the path leads them into new and variable situation of new industrial technologies of the third millennium in which philosophical, scientific, cultural, social and economic foundations of societies will experience deep developments. The education system can play a key role to adapt societies to the new situation. The education system should pave the way for developing certain features such as independence-seeking, risk-taking, innovation, self-esteem and foresight in students through proposing proper training programs. Based on promoting entrepreneurial thinking, the education system can provide a condition in which the educated may act as producers instead of job seekers and may start businesses not only for themselves, but also for others. Thus, this study tries to analyze the position of entrepreneurial thinking in Iran's education system using examining the entrepreneurial features of students. To do so, a number of 335 students (third grade of high school) were selected through stratified random sampling based on discipline and gender. Then a questionnaire was used to collect and analyze the required data. The results gained from analysis of data imply that the educational programs of Iran's education system have failed to provide a proper condition to improve the entrepreneurial features of students. The results of the analysis of the variance, used to compare the performance of training programs in different schools, indicate that there was no difference among various schools in improving entrepreneurial spirit for students. There was no significant difference between students of various schools in terms of having entrepreneurial spirit, as well. Likewise T-test, used to compare the entrepreneurial spirit of girl and boy students in average, showed that there is no significant relationship between gender and entrepreneurial spirit. |
| Keywords: | Education System, Entrepreneurial Spirit, Students, Schools |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:3605768&r=ino |
| By: | Lorenzo Sasso (National Research University Higher School of Economics) |
| Abstract: | This article examines the challenges to banking capital regulation posed by ongoing financial innovation through regulatory capital arbitrage. On the one hand, such practice undermines the quality of regulatory capital, eroding prudential capital standards, but most importantly it creates a distortion in the regulatory capital ratio measures, which prevents investors and regulators from identifying the bank’s real underlying risks. Opportunities for regulatory capital arbitrage arise as a consequence of the inherent mismatch of accounting goals, corporate law and prudential regulation – all interacting with the notion of capital for banks. On the other hand, financial innovation is the result of banks’ risk-management policies. In order to reduce the cost of capital and compliance banks engage in derivatives, structured finance and hybrid instruments, altering the risk/return of their cash flow and the information released to the market for disclosure. In a way, regulation is the solution but also part of the problem. For this reason, new regulation strategies for banks need to be implemented. Systemic risk and balance-sheet risk need to be tackled respectively with macro- and micro-prudential regulation. This would involve an international harmonization of the accounting standards and individualised capital adequacy requirements for banks. The regulation has to be functional for the market under examination. The regulator should therefore consider the adoption of prudential filters to make static variables such as accounting rules, which are normally focused on evaluation, more dynamic to give banks some financial flexibility in their risk-management policies. |
| Keywords: | Regulatory capital arbitrage; hybrid financial instruments; capital adequacy requirements; micro-prudential regulation; risk management; fair value accounting; IAS 32, IAS 39. |
| JEL: | Z |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:66/law/2016&r=ino |
| By: | Bernardo Batiz-Lazo; Gustavo A. Del Angel |
| Abstract: | In this paper we discuss the genesis and early international expansion of the bank issued credit card. Empirical evidence documents the limits of a single firm building a proprietary network, because success came to a constellation of participants that combined three characteristics namely a critical mass of both retail customers and retail merchants; the capacity to adopt and implement new technological solutions; and the ability to forge resilient collaboration across national borders. This evidence provides further support to the importance of collaboration in retail financial services as means to appropriate network externalities. We also argue that initial conditions for this industry had greater implications for long-term success than has been acknowledged by other conceptual and empirical studies (in particular the literature around two-sided markets, which has focused attention on the determinants of the interchange fee). |
| Keywords: | Credit card, payments, cashless, two sided markets, payment tolls, Bank of America, Barclays, Banamex, Bancomer, Banco de Bilbao, British banks, Mexican banks, Spanish banks |
| JEL: | E51 L5 N1 N2 N8 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:hoo:wpaper:16107&r=ino |
| By: | Corina Radulescu; Rita Toader; Cezar Toader (Department of Economics and Physics, Technical University of Cluj Napoca) |
| Abstract: | In this paper we presented a model of evaluating the performance of a cluster based on turnover, the volume of exported products and the performance of human resources. We felt that these variables are relevant in evaluating the performance of a cluster. At the end of the paper determined the performance of an IT cluster based on the model developed variables. The mathematical model developed shows the application in managerial practice can be successfully used in evaluating the performance of clusters in various fields. In the model developed can be used as a variable and the degree of connectivity of the cluster and the number of newly created products. |
| Keywords: | performance, clusters, human resources, model, innovation, variables |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:clj:icmmae:1402&r=ino |
| By: | Kamanda, Josey; Birner, Regina; Bantilan, Cynthia |
| Abstract: | The role of international agricultural research centers (IARCs) has long been a subject of discussion, often with emphasis that they should conduct research that produces international public goods (IPGs). However, centers still face a dilemma on how to balance between IPGs and location-specific work. This paper contributes to the development of principles by which they should position themselves. Transaction cost economics was applied to develop a framework, which is then illustrated with an empirical case study of legume research at the International Crops Research Institute for the Semi-Arid Tropics. A participatory mapping technique (Net-Map) was combined with key informant interviews in India, Malawi and Ethiopia. We find that IARCS play an important role in germplasm improvement, the field in which they have a comparative advantage. However, due to insufficient capacity of national systems, they also engage in downstream activities. This reduces incentives for governments and donors to overcome governance challenges. |
| Keywords: | Agricultural innovation, comparative advantage, research spillovers, transaction costs, CGIAR, Agricultural and Food Policy, Q16, |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae15:211826&r=ino |
| By: | Neves, Mateus de Carvalho; Goncalves, Marcos; Gomes, Adriano; Braga, Marcelo J. |
| Abstract: | Against a background of concentrated production chains and profound changes in the agri-food system, Brazilian agricultural cooperatives are challenged to remain competitive to withstand large multinational companies. This paper proposed to investigate nuances in the behavior of these cooperative organizations due to the changes in their operating environment. It does so by analyzing alterations in efficiency and total factor productivity of a sample of Brazilian agricultural cooperatives, classified according to size, from 2006 to 2010. For this, non-parametric models of Data Envelopment Analysis (DEA) and the Malmquist Index were used. Through the DEA approach, it was seen that larger cooperatives faced decreasing efficiency, while smaller ones experienced the opposite. Moreover, as demonstrated by the Malmquist Indices, the cooperatives, on average, presented negative technological variations, and smaller cooperatives underwent positive changes in technical efficiency. The results suggest directions which public policies could take to strengthen Brazilian agricultural cooperatives in the face of new challenges. |
| Keywords: | Agribusiness, Research and Development/Tech Change/Emerging Technologies, |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae15:212529&r=ino |