We empirically investigate whether the persistence of politicians in political institutions affects the innovation …' innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …

-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale … desire of governments to foster risky 'breakthrough' innovations. -- business taxation ; innovation ; market entry …