Steenkamp, Andre; Schaffer, Mark E.; Flowerday, Wayde; … - 2018
emphasizes a positive correlation between firm-level innovation and productivity gains. It is unsurprising, then, that policy … makers and researchers widely acknowledge that innovation is one of the major drivers of productivity growth, and is … extensively as a proxy for innovation in the literature. Here, we use a production function approach to estimate the return to R …