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on Technology and Industrial Dynamics |
| By: | Aldieri, Luigi; Vinci, Concetto Paolo |
| Abstract: | The aim of this paper is to explore the impact of intra- and inter-industry spillover components on productivity of large International firms. We use data from all EU R&D investment scoreboards editions issued every year until 2011 by the JRC-IPTS (scoreboards). The analysis is based upon a new dataset composed of 879 worldwide R&D-intensive manufacturing firms whose information has been collected for the period 2002-2010. Given the panel data structure of the sample, ad hoc econometric techniques that deal with both firm’s unobserved heterogeneity and weak exogeneity of the right hand-side variables are implemented. The main contribution to the literature is that of further investigating the industry spillovers at firm level within the Triad for a period of time that considers also the economic crisis. In order to measure the distribution of the firm’s research interests through the different technological areas, we use the patent distribution over technological sectors according to the International Patent Classification (IPC). The patent distribution relies on the whole number of patent applications filed to the European Patent Office until 2011. The empirical results suggest a significant impact of R&D spillover effects on firms’ productivity but the results are quite differentiated according to the spillover stock type and this may represent a relevant source of policy implications. |
| Keywords: | Panel Data Models; R&D Spillovers; Total Factor Productivity growth |
| JEL: | C23 O33 O47 |
| Date: | 2015–02–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:62429&r=tid |
| By: | Hsu, Po-Hsuan; Huang, Sterling; Massa, Massimo; Zhang, Hong |
| Abstract: | According to conventional wisdom, family ownership, which signals a lack of social capital and trust in an economy, may impede innovation. This argument, however, fails to recognize that modern family firms can benefit from capitalist institutions that promote innovation. Using a comprehensive sample of U.S. family-owned public firms and patents for the period from 1998 to 2010, we show that family ownership plays multiple roles in promoting innovation and its influence can be attributed to reduced financial constraints, a greater commitment to long-term value, and improved corporate governance. Causality is confirmed through an instrumental variable analysis, a difference-in-difference analysis based on an exogenous regulatory shock and a matched sample analysis. |
| Keywords: | Family firms; innovation; intangible investment |
| JEL: | G32 O32 |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:10445&r=tid |
| By: | Rober Stehrer; Roman Stöllinger |
| Abstract: | There is evidence that Europe’s manufacturing activity is increasingly concentrated in a Central European (CE) core which the IMF in a recent publication also refers to as the German-Central European supply chain. This CE manufacturing core is dominated by Germany and in addition comprises Austria and the four Visegrád countries (the Czech Republic, Slovakia, Hungary and Poland). The case of Austria is particularly interesting because it is neither the primary technology leader within the country group, nor is it an offshoring destination and therefore takes an intermediate position. This study provides further empirical evidence for the growing concentration of European industrial production in the CE manufacturing core and explores in detail the structure and development of the regional supply chains over the period 1995-2011. This includes an analysis of the impact of international production integration on the value added share of manufacturing in the economy. The econometric results point towards differentiated effects for the members of the CE manufacturing core and the remaining EU Member States. Focusing on value added generated by the manufacturing sector, the industries which build the backbone of this regional manufacturing cluster are identified. Finally, the report investigates which factors are conducive to the intensification of international production sharing. In line with the notion of a production-investment-services nexus, it is found that (inward) FDI in the manufacturing sector is associated with higher degrees of production integration. Again, the econometric evidence suggests that some of the factors explaining international production sharing, such as the level of export sophistication, have differentiated effects for the members of the CE manufacturing core as compared to the other EU countries. |
| Keywords: | European manufacturing, production integration, global value chains, structural change |
| JEL: | F14 F15 L16 |
| Date: | 2015–02 |
| URL: | http://d.repec.org/n?u=RePEc:wsr:ecbook:2015:i:vi-002&r=tid |
| By: | Evrin, Alperen |
| Abstract: | In this paper, I examine the effects of implementing tighter Intellectual Property Rights in a model of International Trade. In my model, firms in different countries have the choice of committing their resources to introducing new products (product innovation) or to imitating and improving upon current products (process innovation). I analyze the impact of stronger patents on innovation decisions, overall welfare and the distribution of welfare among countries. I show that, depending on parameter values, firms in developed countries (North) may altogether specialize in product innovation or may attain incomplete specialization in the sense that some innovate and some imitate. Welfare analysis will depend on the degree of specialization. In the case of incomplete specialization, tighter IPRs increase the incentives for product innovation in the North but, at the same time, increase the imitation done in the South. This finding is contrary to the conventional argument that states the reverse for imitation rates. In the case of complete specialization, stronger patents do not affect the rate of product innovation but reduce the rate of imitation, and welfare is nonmonotonic in IPRs. Finally, I examine the case of Foreign Direct Investment (FDI) and predict that stronger patents will increase the FDI while lowering the wages worldwide. |
| Keywords: | Patent Policies, Foreign Direct Investment |
| JEL: | F43 O31 O34 O38 |
| Date: | 2013–12–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:62392&r=tid |
| By: | María José Abud Sittler; Bronwyn Hall; Christian Helmers |
| Abstract: | We analyze the patent filing strategies of foreign pharmaceutical companies in Chile distinguishing between “primary” (active ingredient) and “secondary” patents (patents on modified compounds, formulations, dosages, particular medical uses etc.). There is prior evidence that secondary patents are used by pharmaceutical originator companies in the U.S. and Europe to extend patent protection on drugs in length and breadth. Using a novel dataset that comprises all drugs registered in Chile between 1991 and 2010 as well as the corresponding patents and trademarks, we find evidence that foreign originator companies pursue similar strategies in Chile. We find a primary to secondary patents ratio of 1:4 at the drug-level which is comparable to the available evidence for Europe; most secondary patents are filed over several years following the original primary patent and after the protected active ingredient has obtained market approval in Chile. This points toward effective patent term extensions through secondary patents. Secondary patents dominate “older” therapeutic classes like anti-ulcer and anti-depressants. In contrast, newer areas like anti-virals and anti-neoplastics (anti-cancer) have a much larger share of primary patents. |
| JEL: | K12 L5 L65 O34 |
| Date: | 2015–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:20995&r=tid |
| By: | Jagannath Mallick |
| Abstract: | Globalisation, has intensified the demand preference for quality labour, that embodies more knowledge and competency/skill to maximise the production in one hand, and it has also changed the life style and consumption behavior of the society on the other. As a consequence, this has led to significant changes in the composition and structure of the economy, and also, the reallocation of labour. The study examines the reallocation effect (or structural change) and the direct effect of globalization on labour productivity growth in BRICS countries. The study also examines the relative role of consumption factors and other factors for the structural development during globalization. The study uses shift–share analysis, dynamic panel data method and input-output tables for the empirical analysis during 1990-91 to 2011-12. The findings show that the contribution of structural change is relatively significant in China and India. The globalization measures including international trade and FDI are found to have significant impact on the upsurge of labour productivity growth in BRICS, where the consumption demand predominates among the factors of structural development. |
| Keywords: | Globalisation, FDI, Trade, Labour productivity, Structural Change, BRICS |
| JEL: | F1 J01 J08 R1 |
| Date: | 2015–02 |
| URL: | http://d.repec.org/n?u=RePEc:wsr:wpaper:y:2015:i:141&r=tid |