Evidence on the "funding gap" for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high costs of capital that are...

Italian manufacturing firms have been losing ground with respect to many of their European competitors. This paper presents some empirical evidence on the effects of innovation on employment growth and therefore on firms' productivity with the goal of understanding the roots of such poor...

We take a first look at financial patents at the European Patent Office (EPO). As is the case at the US Patent and Trademark Office (USPTO), the number of financial patents in Europe has increased significantly in parallel with significant changes in payment and financial systems. Scholars have...

What do we know about the relationship between innovation and productivity among firms? The workhorse model of this relationship is presented and the implications of analysis using this model and the usually available data on product and process innovation are derived. The recent empirical...

The identification of age, cohort (vintage), and period (year) effects in a panel of individuals or other units is an old problem in the social sciences, but one that has not been much studied in the context of measuring researcher productivity. In the context of a semi-parametric model of...

The fundamental problem in the field of the economics of innovation is which economic subjects are the sources of radical innovations and high technological performances. The study here confronts this problem by developing a theoretical framework underpinned in the concept of purposeful system...

Frame and Carpenter 1979 analysed the pattern of international research collaboration among scientific fields in 1970s. Starting from this pioneering work, this paper investigates international collaborations over 1997-2012 and compares the critical results with earlier studies to detect the...