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The effect of credit rationing on the shape of the competition-innovation relationship

Bena, Jan - London School of Economics (LSE) - 2009

Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …

Persistent link: https://www.econbiz.de/10010745834

Investment, R&D and financial constraints in Britain and Germany

Bond, Stephen; Harhoff, Dietmar; Van Reenen, John - London School of Economics (LSE) - 2003

This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for...

Persistent link: https://www.econbiz.de/10010884496

Corporate R&D and productivity in Germany and the United Kingdom

Bond, Stephen; Harhoff, Dietmar; Van Reenen, John - London School of Economics (LSE) - 2003

This paper analyzes differences in R&D spending and in the impact of R&D on productivity between German and UK firms. We confirm that German firms spend significantly larger amounts on R&D than their UK counterparts, even after controlling for firm size and industry effects. Using a dynamic...

Persistent link: https://www.econbiz.de/10010745353

Recovering the sunk costs of R&D: the moulds industry case

Santos, Carlos Daniel - London School of Economics (LSE) - 2009

Sunk costs for R&D are an important determinant of the level of innovation in the economy. In this paper I recover them … created the incentives for firms to pay the costs of investment. Trade-induced innovation reinforced the selection effect by …

Persistent link: https://www.econbiz.de/10010745785

Identifying technology spillovers and product market rivalry

Bloom, Nick; Schankerman, Mark; Van Reenen, John - London School of Economics (LSE) - 2005

Government policies to support R&D are predicated on empirical evidence of R&D "spillovers" between firms. But there are two countervailing R&D spillovers: positive effects from technology spillovers and negative effects from business stealing by product market rivals. We develop a general...

Persistent link: https://www.econbiz.de/10011125934

Identifying technology spillovers and product market rivalry

Bloom, Nick; Schankerman, Mark; Van Reenen, John - London School of Economics (LSE) - 2013

The impact of R&D on growth through spillovers has been a major topic of economic research over the last thirty years. A central problem in the literature is that firm performance is affected by two countervailing "spillovers" : a positive effect from technology (knowledge) spillovers and a...

Persistent link: https://www.econbiz.de/10011126004

Identifying technology spillovers and product market rivalry

Bloom, Nick; Schankerman, Mark; Van Reenen, John - London School of Economics (LSE) - 2005

Support for many R&D and technology policies relies on empirical evidence that R&D ‘spills over’ between firms. But there are two countervailing R&D spillovers: positive effects from technology spillovers and negative effects from business stealing by product market rivals. We develop a...

Persistent link: https://www.econbiz.de/10011126438

Identifying technology spillovers and product market rivalry

Bloom, Nick; Schankerman, Mark; Van Reenen, John - London School of Economics (LSE) - 2005

Support for many R&D and technology policies relies on empirical evidence that R&D “spills over” between firms. But there are two countervailing R&D spillovers: positive effects from technology spillovers and negative effects from business stealing by product market rivals. We develop a...

Persistent link: https://www.econbiz.de/10011071197

Advanced purchase commitments for a malaria vaccine: estimating costs and effectiveness

Berndt, Ernst R.; Glennerster, Rachel; Kremer, Michael R.; … - London School of Economics (LSE) - 2005

To overcome the problem of insufficient research and development (R&D) on vaccines for diseases concentrated in low-income countries, sponsors could commit to purchase viable vaccines if and when they are developed. One or more sponsors would commit to a minimum price that would be paid per...

Persistent link: https://www.econbiz.de/10011071268

Measuring the cost effectiveness of an R&D tax credit for the UK

Griffith, Rachel; Redding, Stephen; Van Reenen, John - London School of Economics (LSE) - 2001

effect on technology transfer (catching up with the technological frontier) as well as innovation (pushing the frontier …

Persistent link: https://www.econbiz.de/10010928789