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on Innovation |
| By: | Stefano Breschi (Bocconi University); Julie Lassébie (OECD); Alexander Lembcke (OECD); Carlo Menon (Laterite); Caroline Paunov (Laterite) |
| Abstract: | This paper provides a first assessment of the degree to which public research contributes to innovative entrepreneurship, using data on start-ups and venture capital (VC). It looks at academic start-ups founded by recent undergraduates and doctorate students or researchers. It shows that academic start-ups represent 15% of all start-ups in the specific sample under scrutiny. Their share is higher in science-based technological fields such as biotechnology (23%). Across the majority of countries and technology fields, start-ups created by undergraduate students represent the highest share of all academic start-ups. As to their performance, start-ups founded by researchers are more likely to patent and those founded by students introduce innovations that are more radical compared to other start-ups. While start-ups founded by undergraduate students receive less VC funding and are less likely to exit via IPO or acquisition, those created by researchers are as successful as their non-academic counterparts. |
| Keywords: | academic entrepreneurship, innovative entrepreneurship, knowledge transfer, public research, student entrepreneurship |
| JEL: | L26 O30 |
| Date: | 2019–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaac:64-en&r=all |
| By: | Comin, Diego; Licht, Georg; Pellens, Maikel; Schubert, Torben |
| Abstract: | Among available policy levers to boost innovation, investment in applied research organisations has received little empirical attention. In this paper, we analyse the case of the Fraunhofer Society, the largest public applied research organization in Germany. We analyse whether project interaction with Fraunhofer affects the performance and strategic orientation of firms. To that end, we assemble a unique dataset based on the confidential Fraunhofer-internal project management system and merge it with the German contribution to the Community Innovation Survey (CIS), which contains panel information on firm performance. Using instrumental variables that exploit the scale heteroscedasticity of the independent variable (Lewbel, 2012), we identify the causal effects of Fraunhofer interactions on firm performance and strategies. We find a strong, positive effect of project interaction on growth in turnover and productivity. In particular, we find that a one percent increase in the size of the contracts with FhG leads to an increase in growth rate of sales by 1.3 percentage points, and to an increase in the growth rate of productivity by 0.8 percentage points in the short-run. We also provide evidence of considerable long-run effects accumulating to 18% growth in sales and 12% growth in productivity over the course of 15 years. More detailed analyses reveal, amongst others, that the performance effects become stronger the more often firms interact with Fraunhofer and that interactions aiming at generation of technology have a stronger effect than interactions aiming merely at the implementation of existing technologies. Finally, we provide evidence on the macroeconomic productivity effects of Fraunhofer interactions on the German economy. Our results indicate that doubling Fraunhofer revenues from industry (+€ 0.68 bn.) would increase overall productivity in the German economy by 0.55%. |
| Keywords: | innovation,R&D,diffusion,applied research,Fraunhofer |
| JEL: | O33 O38 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:19006&r=all |
| By: | Marcel Bednarz; Tom Broekel |
| Abstract: | Knowledge diffusion is argued to be strongly influenced by knowledge networks and spatial structures. However, empirical studies primarily apply an indirect approach of measuring their impact. Moreover, little is known about how policy can influence the spatial diffusion of knowledge. This paper seeks to fill this gap by empirically testing the effects of policy induced knowledge networks on the propensity of inter-regional patent citations. We use patent citation data for 141 labor market regions in Germany between 2000 to 2009, which is merged with information on subsidized joint R&D projects. Based on the latter, we construct a network of subsidized R&D collaboration. Its impact on inter-regional patent citations is evaluated with binomial and negative binomial regression models. Our findings do not indicate that inter- regional network links created by public R&D subsidies facilitate patent citations and hence, inter-regional knowledge diffusion. |
| Keywords: | knowledge diffusion, subsidized R&D-networks, gravity model, negative binomial regression, proximity, spillover |
| JEL: | L14 O18 O33 O38 C31 D83 O18 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1908&r=all |
| By: | Okamuro, Hiroyuki; Nishimura, Junichi |
| Abstract: | Regional innovation policies have been implemented in several countries. In Japan, controlled decentralization of traditionally centralized innovation policy is ongoing, so that we can observe multilevel policy mix of public R&D subsidies by national, prefecture and city governments. Based on original survey data and financial data of manufacturing SMEs, we empirically estimate their TFP (Total Factor Productivity) and investigate the effects of public R&D subsidies by national, prefecture and city governments. We employ firm-level fixed effect panel estimation in order to control for the effects of any time-invariant factors. We find that only the prefecture subsidy has a positive and significant impact on the TFP of recipient firms, while interactive effect with city subsidy is also positive and significant, if we consider remaining effects after subsidy period. These results suggest that multilevel policy mix of R&D subsidies significantly increase recipients' productivity and that this effect if durable. |
| Keywords: | R&D subsidy, local authority, multilevel policy mix, SMEs, policy evaluation |
| JEL: | H71 O38 R58 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:hit:ccesdp:70&r=all |
| By: | Nesta, Lionel; Verdolini, Elena; Vona, Francesco |
| Abstract: | This paper analyzes the effect of environmental policies on the direction of energy innovation across countries over the period 1990-2012. Our novelty is to use threshold regression models to allow for discontinuities in policy effectiveness depending on a country's relative competencies in renewable and fossil fuel technologies. We show that the dynamic incentives of environmental policies become effective just above the median level of relative competencies. In this critical second regime, market-based policies are moderately effective in promoting renewable innovation, while command-and-control policies depress fossil based innovation. Finally, market-based policies are more effective to consolidate a green comparative advantage in the last regime. We illustrate how our approach can be used for policy design in laggard countries. |
| Keywords: | Research and Development/Tech Change/Emerging Technologies |
| Date: | 2018–02–26 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemci:268731&r=all |
| By: | Taalbi, Josef (Department of Economic History, Lund University) |
| Abstract: | There are important unresolved questions about long-term trends of in- novation activity and the nature of the interplay between innovation and economic development and transformation. This study explores the promise of a literature-based innovation output indicator, constructed for the Swedish engineering industry, 1909-2016. The findings suggest a long-run increasing trend in innovations per capita. Meanwhile, product innovations have also become more complex and it is suggested that crude innovation counts underestimate the long-run innovation performance. In order to analyse innovation and economic development across different frequencies, the study uses a wavelet decomposition approach. The results suggest that innovation activity has surged in periods of intense industry rationalization and struc- tural crisis (1930s, 1970s and 2010s) and that such pulses were intimately connected to the second and third industrial revolutions. |
| Keywords: | Innovation; Wavelet analysis; Technological systems |
| JEL: | N13 O14 O31 |
| Date: | 2019–03–20 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:luekhi:0196&r=all |
| By: | Diego USECHE; Ernest MIGUELEZ; Francesco LISSONI |
| Abstract: | Based on a relational view of international business, we investigate the role of migrant inventors in Cross-Border Merger & Acquisitions (CBM&As) undertaken by R&D-active firms. We hypothesize that the migrant inventors’ international social networks can be leveraged upon by their employers in order to spot and/or integrate the knowledge bases of acquisition targets in the inventors’ home country. We nuance our hypothesis by means of several conditional logistic regressions on a large matched sample of deals and control cases. The impact of migrant inventors increases with the distance between countries and for targets located in countries with weak administrative/legal systems, as well as when targets are either innovative or belong to high-tech sectors or to the same sector as the acquirer, and for full versus partial acquisitions. |
| Keywords: | cross-border mergers and acquisitions, migration, inventors, PCT patents |
| JEL: | F22 F23 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:grt:wpegrt:2019-03&r=all |
| By: | Neuhäusler, Peter; Rothengatter, Oliver; Frietsch, Rainer |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:efisdi:42019&r=all |
| By: | Hans Gersbach (ETH Zurich, Switzerland); Marie-Catherine Riekhof (ETH Zurich, Switzerland) |
| Abstract: | Innovation clusters combining public and private effort to develop breakthrough technologies promise greater technological advances to slow down climate change. We use a multi-country model with emissions permit trade to examine how international climate policy can incentivize countries to create such clusters. We find that a minimal carbon price is needed to attract applied research firms, but countries may nevertheless fail to invest in complementary research infrastructure. We construct a mechanism that leads to innovation clusters. It is a combination of low permit endowments for the country with the lowest costs to build the needed infrastructure, compensation for this country by profits from permit trade, and maximal possible permit endowments for the remaining countries. |
| Keywords: | International permit markets, Carbon prices, Innovation clusters, Research infrastructure, Applied R&D, Climate change mitigation, Externalities |
| JEL: | H23 Q54 O32 |
| Date: | 2018–11 |
| URL: | http://d.repec.org/n?u=RePEc:eth:wpswif:18-303&r=all |
| By: | Daron Acemoglu; Pascual Restrepo |
| Abstract: | Artificial Intelligence is set to influence every aspect of our lives, not least the way production is organized. AI, as a technology platform, can automate tasks previously performed by labor or create new tasks and activities in which humans can be productively employed. Recent technological change has been biased towards automation, with insufficient focus on creating new tasks where labor can be productively employed. The consequences of this choice have been stagnating labor demand, declining labor share in national income, rising inequality and lower productivity growth. The current tendency is to develop AI in the direction of further automation, but this might mean missing out on the promise of the "right" kind of AI with better economic and social outcomes. |
| JEL: | J23 J24 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25682&r=all |
| By: | Max Nathan; Anna Rosso |
| Abstract: | We take a fresh look at firms' innovation-productivity linkages, using novel data capturing new aspects of innovative activity. We combine UK administrative microdata, media and website content to develop experimental metrics - new product/service launches - for a large panel of SMEs. Extensive validation and descriptive exercises show that launches complement patents, trademarks and innovation surveys. We also establish connections between launches and previous innovative activity. We then link IP, launches and productivity, controlling for media exposure and firm heterogeneity. Launch activity is associated with higher SME productivity, especially in the service sector. High-quality launches and medium-size firms help drive this result. |
| Keywords: | innovation, productivity, ICT, data science |
| JEL: | L86 |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1607&r=all |