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on Innovation |
| By: | Eberle, Jonathan; Böing, Philipp |
| Abstract: | We investigate the impact of research and development (R&D) subsidies on R&D inputs of large- and medium-sized firms and on additional innovation and economic activities in Chinese provinces. A panel vector autoregressive (VAR) model and corresponding impulse response function (IRF) analysis allow us to differentiate between direct and indirect effects, which add up to total effects. We find that an increase of R&D subsidies significantly decreases private R&D investments, although there is a significant positive effect on the R&D personnel employed in firms. We interpret these findings as a partial crowding-out effect because public funds substitute some private funds while total R&D inputs still increase. Complementarily, we find a positive secondary effect on the provincial patent activity, our measure of technological progress. Interestingly, we also find potentially unintended effects of R&D subsidies on increases in the investment rate in physical capital and residential buildings. Although R&D subsidies fail to incentivise private R&D expenditures, firms increase total R&D inputs, and provincial economies benefit from secondary effects on technological progress and capital deepening. |
| Keywords: | China,R&D subsidies,regional economic development,panel VAR,impulse response function |
| JEL: | C33 R11 R58 O38 O47 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:19038&r=all |
| By: | Crystal, Michael; Gandal, Neil; Shilony, Royee; Shur-Ofry, Michal |
| Abstract: | Scientific understanding of innovation processes and of the patent system increasingly relies on big data analyses of patent citations. Much of that research focuses on highly cited patents. This study, conversely, offers the first systematic exploration of uncited patents-patents that receive no citations. Analyzing data on all US patents issued between 1976 and 2008, we focus on the ratio of uncited patents out of all patents granted each year. We track the changes in the percentage of uncited patents during that period, and across technological fields, controlling for patents' age. We also investigate traits of uncited patents by examining the association between lack of citations and various factors including the number of inventors, number of technological subclasses, number of backward citations, and number of claims in the patent. We find a robust pattern whereby the percentage of uncited patents declined between 1976 and the mid 1990s, but has been significantly increasing since then. These findings are consistent across technological fields and hold after controlling for patent characteristics. We discuss these and additional findings, and propose possible explanations. We suggest that the trend of increase in uncited patents raises, and reinforces, concerns regarding patent quality and "patent explosion". More broadly, our focus on "negative information" embedded in patent data opens up a new avenue for further research that can deepen our understanding of the patent system. |
| Keywords: | Big Data; Innovation; Negative Knowledge; networks; Patent Citations; Uncited Patents |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13982&r=all |
| By: | YAMASHITA Nobuaki; YAMAUCHI Isamu |
| Abstract: | There has been a global shift in the distribution of manufacturing jobs and activities away from high-wage countries to low-wage countries for the past few decades. This paper examines a largely unexplored channel of the effects of offshore production on onshore (domestic) innovation performance. Controlling for the endogeneity, we find that increased offshore employment and R&D do not have positive impact on the domestic innovation measured by the number of patent applications and the number of forward citations on average. However, offshore R&D increases the quality of domestic innovation when the firms expand R&D function to the developed countries while it has a negative effect in the developing countries. We also find a synergistic effect between production and R&D activities. Therefore, separating the two activities can decrease the efficiency of resource allocation on the domestic innovation. |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:19068&r=all |
| By: | Daniel Gama e Colombo (Instituto Nacional de Estudos e Pesquisas Educacionais Anísio Teixeira (Inep), Brasília, Brazil); Jorge Martinez-Vazquez (International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University, USA) |
| Abstract: | This paper presents a first analysis of the potential link between the level of fiscal decentralization of a country and its public investment in innovation. We present a theoretical model where a ‘benevolent government’ invests in R&D aiming at maximizing net income, and R&D results are subject to interregional knowledge spillovers. The model predicts that decentralization leads to a lower level of public spending on innovation, and to a lower share of basic research in the government R&D budget. These hypotheses are empirically tested using country aggregate data. The results provide empirical support to the mentioned hypotheses, as we find evidence that higher levels of both expenditure and revenue decentralization are associated with a lower intensity of basic research in public R&D and with a lower level of R&D spending. The strength of the evidence, however, is weakened by the small sample size and shortcomings of the indicators used in the analysis. |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:ays:ispwps:paper1918&r=all |
| By: | Mancusi, Maria Luisa; Conti, Chiara; Sanna-Randaccio, Francesca; Sestini, Roberta |
| Abstract: | This paper investigates the fragmentation of the EU innovation system in the field of renewable energy sources (RES) by estimating the intensity and direction of knowledge spillovers over the years 1985-2010. We modify the original double exponential knowledge diffusion model proposed by Caballero and Jaffe (1993) to provide information on the degree of integration of EU countries’ RES knowledge bases and to assess how citation patterns changed over time. We show that EU RES inventors have increasingly built “on the shoulders of the other EU giants”, intensifying their citations to other member countries and decreasing those to domestic inventors. Furthermore, the EU strengthened its position as source of RES knowledge for the US. Finally, we show that this pattern is peculiar to RES, with other traditional (i.e. fossil-based) energy technologies and other radically new technologies behaving differently. We provide suggestive, but convincing evidence that such decrease in fragmentation around the turn of the century emerged as a result of the EU increased support for RES taking mainly the form of demand-pull policies. |
| Keywords: | EU integration; renewable energy technologies; knowledge flows |
| JEL: | O31 Q42 Q55 Q58 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:95775&r=all |
| By: | Gozman, Daniel; Liebenau, Jonathan; Mangan, Jonathan |
| Abstract: | The emergence of nascent forms of financial technology around the globe is driven by efforts to de-construct and reimagine business models historically embedded within financial services. Entrepre-neurial endeavors to this end are diverse. Indeed, the propensity towards complexity across the fintech landscape is considerable. Bridging as it does a diverse range of financial services, markets, innova-tions, industry participants, infrastructures and technologies. This study aims to improve the compre-hension of the global fintech landscape. It is based on the analysis of start-ups who participated in SWIFT’s Innotribe competition over a three-year period. We used cluster analysis to group 402 fintech start-up firms, and then selected representative cases to create a foundational understanding of the structure of the fintech landscape. We found that six clusters capture the variety of firms and their activities. The main findings of this work are: (1) the development of fintech clusters to classify core services, business infrastructures and underlying component technologies, which characterize the fintech landscape; (2) an analysis of how fintechs synthesize different technologies to restructure and coordinate flows of financial information through competitive and cooperative mechanisms of disin-termediation, extension of access, financialization, hybridization and personalization; (3) an analysis of related strategies for value creation connected with the competitive and cooperative mechanisms that were identified. Collectively, our results offer new insights into the diversity and range of emer-gent innovations and technologies which are transforming the financial services industry worldwide. |
| Keywords: | business models; cluster analysis; data analytics; financialization; fintech start-ups; SWIFT Innotribe; technology ecosystems; technological innovation; value proposition |
| JEL: | J50 F3 G3 |
| Date: | 2018–03–30 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:86495&r=all |
| By: | Gersbach, Hans; Riekhof, Marie-Catherine |
| Abstract: | We introduce an international technology treaty ("Tech Treaty") that couples the funding of research for a more advanced abatement technology with an international emissions permit market. While each country decides on domestic permit issuance, a fraction of these permits is auctioned by an international agency. Auction revenues scale up license revenues for the innovators of abatement technologies. We show that such a treaty increases innovations and decreases emissions under plausible conditions compared to an emissions trading system without additional technology agreement. Finally, we discuss how a Tech Treaty may inspire next steps in existing technology programs. |
| Keywords: | Climate Change Mitigation - Technology Promotion - R&D - International Emissions Permit Markets - International Treaty - Externalities |
| JEL: | H23 O31 Q54 |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14033&r=all |