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on Technology and Industrial Dynamics |
| By: | Frietsch, Rainer; Schubert, Torben; Neuhäusler, Peter |
| Abstract: | This paper deals with the question of changing relations between business R&D (BERD), patents and output measures like value added and productivity (macro level) as well as EBIT and market capitalization (micro level) to analyze long-term/secular effects of technological change at different levels. The results of the panel data reveal an increase of the patent numbers resulting from R&D expenditures. However, we also find a difference in the elasticities of BERD and patents between patent-intensive and non-patent-intensive sectors. In addition, the association between patents and labor productivity falls when all sectors are taken into account, implying decreasing contributions of technological progress to the productivity. Yet, the drivers are non-patent-intensive sectors, as we observe an increasing association of patents and labor productivity for patent-intensive sectors. The results of the enterprise panel data reveal similar results. The correlations between R&D and patents increased over the last 20 years, although it seems there is a concentration of R&D and patenting activities to a smaller amount of firms, which can partially be explained by the fact that research and development that is necessary for a single patent has become more and more expensive in the past years. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:efisdi:72017&r=tid |
| By: | Francesco Vona (Observatoire Francais des Conjonctures Economiques (OFCE), France; Universite Cote d'Azur, SKEMA, CNRS, GREDEG, France.); Giovanni Marin (Department of Economics, Society and Politics, University of Urbino `Carlo Bo', Italy.); Davide Consoli (ZINGENIO[CSIC-UPV], Valencia, Spain.) |
| Abstract: | This paper explores the nature and the key empirical regularities of green employment in US local labor markets between 2006 and 2014. The main methodological novelty consists of a new measure of green employment based on the task content of occupations. Descriptive analysis reveals that: 1. the share of green employment is between 2 and 3 percent, with a strongly pro-cyclical trend; 2. the green wage premium is 4 percent; 3. green jobs are more geographically concentrated than similar non-green jobs; and 4. the top green areas are mostly high-tech. As regards to the drivers, direct changes in environmental regulation are a secondary force in explaining the 8-years growth of green jobs compared to the local amount of green subsidies within the American Recovery and Reinvestment Act (ARRA), the endowment of green knowledge and the resilience to the great recession. Assessing the impact of moving to greener activities, we find that one additional green job is associated with 4.2 (2.2 in the crisis period) new local jobs in non-tradable activities, and that this effect can be mostly ascribed to the green ARRA package. |
| Keywords: | Green employment; local labor markets; task-based approach; local multipliers; green American Recovery and Reinvestment Act; environmental policies |
| JEL: | J23 O33 Q52 R23 |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2017-13&r=tid |
| By: | Shang, Hua (Asian Development Bank Institute); Song, Quanyun (Asian Development Bank Institute); Wu, Yu (Asian Development Bank Institute) |
| Abstract: | From the perspective of credit allocation, this paper analyzes the effects of credit market development on the innovative capacities of industrial firms in the People’s Republic of China. Using a large dataset of industrial firms in 31 provinces in the People’s Republic of China, we find that credit market development enhances firms’ product innovation incentives and outcomes. We further show that firms’ credit constraints and firms’ performances are two channels through which credit market development affects innovative capacities of firms. Our results are neither driven by the increase in the quantity of credit, nor by the increase in the number of firms in a province. The results are robust to different samples, different estimation methods, and alternative measures of credit market development. |
| Keywords: | credit market development; credit allocation; firm innovation; product innovation; innovation incentives; innovation outcomes |
| JEL: | G15 O31 R11 |
| Date: | 2017–01–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0649&r=tid |
| By: | Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Ding, Ding (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Thulin, Per (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology) |
| Abstract: | Presenting The Knowledge Spillover Theory of Intrapreneurship, we examine how labour mobility impacts innovation distributed on firm size. A matched employer-employee dataset, pooled with firm-level patent application data, is implemented in the analysis. We provide new evidence that knowledge workers’ mobility has a positive and strongly significant impact on all firms’ innovation output, measured as patent applications. The patterns and effects differ between large and small firms. More precisely, for small firms, intraregional mobility of knowledge workers that have previously worked in a patenting firm (the learning-by-hiring effect) are shown to be statistically and economically highly significant, whereas only limited impact could be detected for firms losing knowledge workers (the-learning-by-diaspora effect). |
| Keywords: | Labour mobility; knowledge diffusion; innovation; social networks |
| JEL: | J24 O31 R23 |
| Date: | 2017–07–13 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0459&r=tid |
| By: | Jingong Huang (University of Melbourne) |
| Abstract: | Motivated by empirical evidence from the U.S. patent citation data on the dynamics of firms' patent portfolio development, I build a model of innovation incorporating a technology network structure. The model features firms operating in multiple technology sectors and internalising the spillovers of their own knowledge accumulation to produce patents. Two new insights emerge: The technology network is an important determinant of the patent distribution in different sectors. The growth of patents in each sector is proportional to the Eigenvector Centrality of the technology network. The model is estimated using Simulated Method of Moments and it is capable of reproducing the patent distribution observed in the data. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed017:24&r=tid |
| By: | Oscar Mauricio Valencia-Arana; Jose Eduardo Gomez-Gonzalez; Andrés Garcia-Suaza |
| Abstract: | Can technological misallocation generate financial frictions? We build a theoretical model with testable implications, in which the misallocation between R&D and production activities generates borrowing constraints. The investor offers the innovator a rent that is contingent to the success of its project in order to make them exert an incentive-compatible effort level. However, this rent distorts the allocation of effort between activities. Specifically, it leads to a suboptimal level of effort impulsing a reallocation of resources from production to R&D. Consequently, the investor cannot appropriate the surplus resulting from innovation. This distortion increases the cost of external financing for firms that have large amount of intangible assets. Using Compustat data for manufacturing firms in the United States between 1982 and 2007, we show that cash-flow sensitivities are positive and increasing in firms with high R&D intensities |
| Keywords: | Moral Hazard, Endogenous Borrowing Constraints, and TechnologicalMisallocation |
| JEL: | G11 D86 |
| Date: | 2017–06–06 |
| URL: | http://d.repec.org/n?u=RePEc:col:000092:015638&r=tid |
| By: | Kibae Kim (Technology Management, Economics, and Policy Program; College of Engineering; Seoul National University) |
| Abstract: | In recent studies, Information and Communication Technologies have been key drivers of innovation and economic growth throughout the world. Because the Information and Communication Technology products and services require intensive knowledge, leading countries invested in their innovation systems to operate more effectively and efficiently. Studies on innovation have investigated the knowledge base of countries and their respective relationships with their national institutions, and subsequent economic growth to identify factors which have led to success. However, the approaches of previous studies omit the constituents of the knowledge base while focusing on quantitative aspects such as size. In this article, I propose a novel approach to exploring the knowledge base at a global level by undertaking a network analysis of patents. In this framework, the global knowledge network is defined as a set of countries and respective technological similarities between countries as vertices and edges. Applying this framework, the research questions are addressed qualitatively by identifying the structure of the network and how it has evolved. The analysis results indicate that the global knowledge network consists of a cluster of developed countries, and the cluster is linked with developing countries through Japan, U.S.A. and China. They also show that the Information and Communication Technology leaders changed from Great Britain and France to U.S.A. in 1920s, from U.S.A. to Japan in 1970s. The framework is expected to be applied to economic studies of innovation and knowledge bases at a global level. |
| Keywords: | Global Knowledge Network, Information and Communication Technology, Technology Leadership, Network Analysis, Patents. |
| JEL: | A12 O33 O34 O53 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:snv:dp2009:2015124&r=tid |
| By: | Dawid, Herbert (University of Bielefeld); Pellegrino, Gabriele (EPFL, Lausanne); Vivarelli, Marco (Università Cattolica del Sacro Cuore) |
| Abstract: | While the extant innovation literature has provided extensive evidence of the so-called "demand-pull" effect, the possible diverse impact of demand evolution on product vs process innovation activities has not been yet investigated. This paper develops a formal model predicting a larger inducing impact of past sales in fostering product rather than process innovation. This prediction is then tested through a dynamic microeconometric model, controlling for R&D persistence, sample selection, observed and unobservable individual firm effects and time and sectoral peculiarities. Results are consistent with the model and suggest that an expansionary economic policy may benefit the diffusion of new products or even the emergence of entire new sectors. |
| Keywords: | technological change, R&D, demand-pull innovation, dynamic two tobit |
| JEL: | O31 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10846&r=tid |