|
on Technology and Industrial Dynamics |
| By: | Michael Fritsch (FSU Jena); Mirko Titze (Halle Institute for Economic Research (IWH), Germany); Matthias Piontek (Friedrich Schiller University Jena, Germany) |
| Abstract: | The value of social network analysis is critically dependent on the comprehensive and reliable identification of actors and their relationships. We compare regional knowledge networks based on different types of data sources, namely, co-patents, co-publications, and publicly subsidized collaborative R&D projects. Moreover, by combining these three data sources, we construct a multilayer network that provides a comprehensive picture of intraregional interactions. By comparing the networks based on the data sources, we address the problems of coverage and selection bias. We observe that using only one data source leads to a severe underestimation of regional knowledge interactions, especially those of private sector firms and independent researchers. The key role of universities that connect many regional actors is identified in all three types of data. |
| Keywords: | Knowledge interactions, social network analysis, regional innovation systems, data sources |
| JEL: | O30 R12 R30 |
| Date: | 2018–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2018-003&r=tid |
| By: | Josh Lerner; Amit Seru |
| Abstract: | Patents and citations are powerful tools for understanding innovative activity inside the firm, and are increasingly use in corporate finance research. But due to the complexities of patent data collection and the changing spatial and industry composition of innovative firms, biases may be introduced. We highlight several patent-level biases induced by truncation of reported patent awards and citations, affecting estimates of time trends and patterns across technology classes and regions. We then introduce measures of patent and citation biases. When aggregated at the firm level, these survive popular methods of adjustment and are correlated with firm-level characteristics. We show that these issues can lead to problematic – and ex ante predictable – inferences, using several examples from prominent streams of finance literature that use patent data. We suggest a number of concrete steps that researchers can employ to avoid biased inferences. |
| JEL: | G30 O34 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24053&r=tid |
| By: | Chahim, M. (Tilburg University, School of Economics and Management); Grass, D.; Hartl, R.F.; Kort, Peter (Tilburg University, School of Economics and Management) |
| Abstract: | The paper provides a framework that enables us to analyze the important topic of capital accumulation under technological progress. We describe an algorithm to solve Impulse Control problems, based on a (multipoint) boundary value problem approach. Investment takes place in lumps and we determine the optimal timing of technology adoptions as well as the size of the corresponding investments. Our numerical approach led to some guidelines for new technology investments. First, we find that investments are larger and occur in a later stadium when more of the old capital stock needs to be scrapped. Moreover, we obtain that the size of the firm’s investments increase when the technology produces more profitable products. We see that the firm in the beginning of the planning period adopts new technologies faster as time proceeds, but later on the opposite happens. Furthermore, we find that the firm does not invest such that marginal profit is zero, but instead marginal profit is negative. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutis:54873dcf-e1ea-442a-8c1f-be2e6c5f5b2c&r=tid |
| By: | Clément Bonnet |
| Abstract: | We estimate an index that measures the quality of the patented inventions related to Low Carbon Energy Technologies (LCETs) and delivered in seven countries during 1980-2010. This quality index is built using a Latent Factor Model (LFM) that synthesizes the information contained in patent documents. We capture a unique measure of patents quality, defined here as the economic value that is imputable to the technological advance resulting from the patented invention. A robust measure of the inventive performance of each country in the LCETs is obtained using the quality index. Several insights are derived from this measure about the technical advantages of countries and the dynamics of technologies' quality. |
| Keywords: | Patent data, Energy technologies, Latent factor model, Low carbon innovation |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:cec:wpaper:1709&r=tid |
| By: | Fabio Pieri; Le Manh-Duc; Enrico Zaninotto |
| Abstract: | This paper examines the role of ownership and market competition in Vietnamese firms’ total factor productivity (TFP) from 2001 to 2011. Making use of a large panel dataset of Vietnamese manufacturing firms, we find that, on average, both foreign-owned enterprises(FOEs) and state-owned enterprises (SOEs) have performed better than privately owned enterprises (POEs) in terms of their TFP levels. However, while FOEs ranked the highest in terms of TFP in the period 2001-2006, SOEs "closed the gap" with FOEs in the period 2007–2011. SOEs’ good performance may be the result of the state-led development policies undertaken during the 2000s. We also find that market competition has been effective in enhancing average firm productivity and reducing the gaps in efficiency across firms of different ownership types. Based on these results, we compare Vietnam’s transition path with those followed by other countries. |
| Keywords: | Ownership, market competition, TFP, Vietnamese manufacturing, transition economies |
| JEL: | D24 L33 O53 N60 P27 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:trn:utwprg:2018/01&r=tid |
| By: | Oulton, Nicholas |
| Abstract: | I analyse TFP growth at the sectoral and aggregate level, using data for 10 industry groups covering the market sector for 18 countries over the period 1970-2007 drawn from the EU KLEMS dataset. TFP growth displays persistence at the aggregate level but not at the industry level, suggesting industry outputs are measured with error. In all countries resources have been shifting away from industries with high TFP growth towards industries with low TFP growth. Nevertheless I find that structural change (as measured by changes in value added shares) has favoured growth in most countries. Errors in measuring capital or in measuring the elasticity of output with respect to capital are unlikely to substantially reduce the role of TFP in explaining growth. The pattern of growth in these 18 countries is more consistent with an underlying two-sector model than with the one-sector (Solow) model. Standard theory suggests that TFP growth induces capital accumulation, at least in the long run. This is not the case with the raw EU KLEMS data used here. But standard theory finds some support when the data are smoothed to remove cyclical effects. |
| JEL: | J1 |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:86168&r=tid |
| By: | Robert C. Johnson |
| Abstract: | Recent decades have seen the emergence of global value chains (GVCs), in which production stages for individual goods are broken apart and scattered across countries. Stimulated by these developments, there has been rapid progress in data and methods for measuring GVC linkages. The macro-approach to measuring GVCs connects national input-output tables across borders using bilateral trade data to construct global input-output tables. These tables have been applied to measure trade in value added, the length of and location of producers in GVCs, and price linkages across countries. The micro-approach uses firm-level data to document firms' input sourcing decisions, how import and export participation are linked, and how multinational firms organize their production networks. In this review, I evaluate progress on these two tracks, highlighting points of contact between them and areas that demand further work. I argue that further convergence between them can strengthen both, yielding a more complete empirical portrait of GVCs. |
| JEL: | F1 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24027&r=tid |
| By: | Michael Fritsch (FSU Jena); Michael Wyrwich (FSU Jena) |
| Abstract: | We investigate the role of entrepreneurship culture and the historical knowledge base of a region on current levels of new business formation in innovative industries. The analysis is for German regions and covers the time period 1907-2014. We find a pronounced positive relationship between high levels of historical self-employment in science-based industries and new business formation in innovative industries today. This long-term legacy effect of entrepreneurial tradition indicates the prevalence of a regional culture of entrepreneurship. Moreover, local presence and geographic proximity to a technical university founded before the year 1900 is positively related to the level of innovative start-ups more than a century later. The results show that a considerable part of the knowledge that constitutes an important source of entrepreneurial opportunities is deeply rooted in history. We draw conclusions for policy and for further research. |
| Keywords: | Innovative start-ups, universities, regional knowledge, regional cultures of entrepreneurship |
| JEL: | L26 L60 L80 O18 R12 R30 |
| Date: | 2018–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2018-001&r=tid |
| By: | Beck, Mathias (ETH Zurich); Junge, Martin; Kaiser, Ulrich (University of Zurich) |
| Abstract: | We review and condense the body of literature on the economic returns of public R&D on private R&D and find that: (i) private returns to R&D appear to be large and larger than the returns to alternative investments; (ii) private R&D and R&D subsidies are positively correlated and there is no evidence for crowding out; (iii) R&D cooperation increases private R&D; (iv) there appear to exist complementarities between alternative sources of funding; (v) the mobility of R&D workers, particularly of university scientists, is positively related to innovation; (vi) there are many university spin-offs but these are no more successful than non-university spin-offs; (vii) universities constitute important collaboration partners and (viii) clusters enhance collaboration, patents and productivity. Key problems for economic policy advice are that the identification of causal effects is problematic in most studies and that little is known about the optimal design of policy measures. |
| Keywords: | R&D subsidies, R&D tax credits, cooperation, labor mobility, returns to R&D, university spin-offs, R&D clusters, public-private knowledge transfer |
| JEL: | C54 J6 I28 O3 L52 |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11196&r=tid |
| By: | Alabi Oluwafisayo (International Public Policy Institute, University of Strathclyde); Martin Smith (St Andrews Centre for Advanced Materials, University of St Andrews); John Irvine (Barelett School of Environment, University College London); Karen Turner (International Public Policy Institute, University of Strathclyde) |
| Abstract: | A core theme of the UK Government’s new Industrial Strategy is exploiting opportunities for domestic supply chain development. This extends to a special ‘Automotive Sector Deal’ that focuses on the shift to low emissions vehicles (LEVs). Here attention is on electric vehicle and battery production and innovation. In this paper, we argue that a more straightforward gain in terms of framing policy around potential economic benefits may be made through supply chain activity to support refuelling of battery/hydrogen vehicles. We set this in the context of LEV refuelling supply chains potentially replicating the strength of domestic upstream linkages observed in the UK electricity and/or gas industries. We use input-output multiplier analysis to deconstruct and assess the structure of these supply chains relative to that of more import-intensive petrol and diesel supply. A crucial multiplier result is that for every £1million of spending on electricity (or gas), 8 full-time equivalent jobs are supported throughout the UK. This compares to less than 3 in the case of petrol/diesel supply. Moreover, the importance of service industries becomes apparent, with 67% of indirect and induced supply chain employment to support electricity generation being located in services industries. The comparable figure for GDP is 42%. |
| Keywords: | electric vehicles, input-output model, multipliers, value-added multiplier, employment multiplier, supply chain development |
| JEL: | C67 Q42 Q43 Q48 R48 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:str:wpaper:1801&r=tid |
| By: | Justin R. Pierce; Peter K. Schott |
| Abstract: | This paper examines the effect of a change in U.S. trade policy on the domestic investment of U.S. manufacturers. Using a difference-in-differences identification strategy, we find that industries more exposed to reductions in import tariff uncertainty exhibit relative declines in investment after the change in trade policy. Within industries, we find that this relationship is concentrated among establishments with low initial levels of labor productivity, capital intensity and skill intensity. Plants with high initial levels of skill intensity, by contrast, exhibit relative increases in investment with exposure. We also find evidence that establishments' investment activity is smoother following the policy change. |
| JEL: | E22 F1 F13 F14 F4 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24071&r=tid |
| By: | Emek Basker; Timothy Simcoe |
| Abstract: | This paper matches archival data from the Uniform Code Council to establishments in the Longitudinal Business Database and Economic Census to study the diffusion and impacts of the Universal Product Code (UPC). We find evidence of network effects in the diffusion process. Matched-sample difference-in-difference estimates show that employment and trademark registrations increase following UPC adoption by manufacturers or wholesalers. Industry-level imports also increase with domestic UPC adoption. Our findings suggest that barcodes, scanning and related technologies helped stimulate variety-enhancing product innovation and encourage the growth of international retail supply chains. |
| JEL: | L11 L15 L81 O33 |
| Date: | 2017–11 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24040&r=tid |