To examine the drivers of innovation, this paper studies the global R and D effort to fight the deadliest diseases and … and innovation can be very large, as demonstrated by aggregate flow of clinical trials increasing by 38% in 2020, with …, while economists are naturally in favor of market size as a driving force for innovation (i.e.'if the market size is …

The paper analyses the effect of the stock market on firm innovation through the lens of initial public offering (IPO … firm innovation activity. In addition, IPOs expand a firm's scope of innovation beyond its core business. The impact of … IPOs on firm innovation varies across financial constraints, corporate governance, and ownership structures. Our results …

How do firm-specific actions-in particular, innovation-affect firm productivity? And what is the role of the financial … sector in facilitating higher productivity? Using a rich firm-level dataset, we find that innovation is crucial for firm … financial sector; firms reap the maximum benefits from innovation in countries with well-developed financial sectors. This …