In this paper we articulate and test the hypothesis that TFP is a reliable and relevant measure of firm’s innovation capabilities, and, as such, accounts for Tobin’s q indicator. With this aim, we investigate empirically the relationship between firm level total factor productivity and the...

The paper is an attempt to provide an interpretation of the Italian puzzle in the post-WWII era consisting of very low levels of expenditure in R&D and yet high TFP growth. The research aims to supply the basic tools and the framework for a better understanding of the Italian industry innovation...

This paper explores the new market-mediating mechanisms linking SU invention on the one hand and economic growth on the other. Two such mechanisms come to our mind under venture capitalism (of which venture capitalism is directly involved only in the first): 1) a systemic rather than haphazard...

Internal labour markets and industrial relations in Continental Europe are characterized by substantial rigidity of employed labour. The rigidity of employed labor adds and augments the irreversibility of fixed capital. This rigidity affects both the rate and the direction of technological...

The features of the industrial system within which innovation processes take place affect the pace and the characteristics of the innovation processes and influence their evolution. The analysis of the industrial structure and of the innovation strategies of firms cannot be separated. The...