In this paper, we aim at re-assessing the undisputed positive relationship between innovation and economic growth by … questioning the view that R&D (and formal knowledge in general) equates innovation and innovation equates regional growth. We … several knowledge and innovation indicators, ranging from R&D expenditures, patent data, to newly released data on different …

, innovation. Using a Schumpeterian growth model in which firms' dynamic R&D and financing choices are endogenously determined, we … demonstrate that this second effect always dominates, so that debt fosters innovation and growth at the aggregate level. Our paper …-industry variation in leverage and innovation …

to incorporate and foster innovation and on the quantity and quality of investment in education. and knowledge. After … documenting Italy's delays in innovation and education, we discuss their interrelation with the structure of the productive system …

This paper studies how innovation strategies of Russian manufacturing firms affect various features of firm performance …. A multi stage model is used, which relates the firm's decision to undertake R&D to its innovation output, technical … economies may adopt technologies embodied in imported hardware. Additionally, we link productivity and innovation output to …