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on Technology and Industrial Dynamics |
| By: | Aghion, Philippe; Hemous, David; Kharroubi, Enisse |
| Abstract: | What are the effects of cyclical fiscal policy on industry growth? We show that industries with a relatively heavier reliance on external finance or lower asset tangibility tend to grow faster (in terms of both value added and of labor productivity growth) in countries that implement fiscal policies that are more countercyclical. We reach this conclusion using Rajan and Zingales׳s (1998) difference-in-difference methodology on a panel data sample of manufacturing industries across 15 OECD countries over the period 1980–2005. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hrv:faseco:12585130&r=tid |
| By: | Crass, Dirk; Licht, Georg; Peters, Bettina |
| Abstract: | This paper investigates the role intangible capital plays for economic growth in different sectors in Germany. It consists of two major parts. In the first part, we aim at measuring investment in intangibles at the sector level. We shed light on differences across sectors but also compare these figures with investment in physical capital and with investment in intangibles in the UK as European benchmark. The second part explores the role of intangible assets for stimulating growth at the sector level by performing growth accounting analyses. We find that German firms have boosted investments in intangible capital from 1995-2006 by 30%. Furthermore, results reveal differences in the investment patterns among the UK and Germany. In nearly all sectors investments in design and computerized information are larger in the UK. In contrast, German firms invest a higher proportion of gross output in R&D in all sectors, and advertising is also more common except for the sector trade & transport. Intangible assets have stimulated labour productivity growth in all sectors. The contribution varies between 0.17 (construction) and 0.59 (manufacturing) percentage points. In manufacturing, financial and business services innovative property capital is the most influential type of intangible capital for labour productivity, followed by economic competencies and computerized information. In all other sectors, economic competencies play the most prominent role for labour productivity growth. -- |
| Keywords: | intangible assets,economic growth,sector |
| JEL: | E22 O47 L60 L80 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:14049&r=tid |
| By: | Derya Fındık (Department of Science and Technology Policy Studies, Middle East Technical University); Aysıt Tansel (Cornell University, Ithaca, USA, Middle East Technical University, Ankara, Turkey) |
| Abstract: | This paper 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 investment, software investment, efficiency |
| JEL: | L21 L22 L23 L25 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:eyd:cp2013:235&r=tid |
| By: | Francesco Nicolli (Facoltà di Economia (Faculty of Economics)); Francesco Vona (OFCE) |
| Abstract: | This paper investigates empirically the effect of market regulation and renewable energy policies on innovation activity in different renewable energy technologies. For the EU countries and the years 1980 to 2007, we built a unique dataset containing information on patent production in eight different technologies, proxies of market regulation and technology-specific renewable energy policies. Our main findings show that lowering entry barriers is a more significant driver of renewable energy innovation than privatisation and unbundling, but its effect varies across technologies, being stronger in technologies characterised by the potential entry of small, independent power producers. Additionally, the inducement effect of renewable energy policies is heterogeneous and more pronounced for wind, which is the only technology that is mature and has high technological potential. Finally, the ratification of the Kyoto protocol – determining a more stable and less uncertain policy framework - amplifies the inducement effect of both energy policy and market liberalisation. |
| Keywords: | renewable energy technology; environmental innovation; heterogenous policy effect; feedin tariff; renewable energy certificates; entry barrier |
| JEL: | Q34 Q42 Q48 Q51 Q58 |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/4b9o704lm99vm9u7s9e6fdpp6r&r=tid |
| By: | Ljungwall, Christer (Copenhagen Business School); Gustavsson Tingvall, Patrik (The Ratio Institute) |
| Abstract: | Abstract: In this paper we examine whether China has benefited more from spending on R&D than other countries by conducting a meta-analysis of the relevant literature on a large number of countries at different stages of economic development. The results suggest that the growth-enhancing effect of R&D spending in China has been significantly weaker than that of other countries. It is thus unlikely that R&D spending has been successful as a key contributing factor to economic growth in China. |
| Keywords: | meta-analysis; R&D; economic growth; China |
| JEL: | F43 O11 O33 O53 |
| Date: | 2014–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0233&r=tid |