Showing 1 - 10 of 12
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
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
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
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
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
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
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
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
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
effect on technology transfer (catching up with the technological frontier) as well as innovation (pushing the frontier …
Persistent link: https://www.econbiz.de/10010928789