We examine how political instability (PI) affects firms’ product innovation and the strategies that firms can employ in response to PI. We argue that while higher levels of PI influence firms’ innovation negatively, greater international exposure (through foreign ownership and exporting) can...

Although the econometric evaluation of R&D has attracted wide interest in many countries, it has not attracted much in the UK. The main objective of this paper is to fill this void, i.e., to estimate the impact of R&D on productivity growth of the UK manufacturing sector. However, there are some...

This study investigates the impacts of R&D on firm performance. It extends previous research by constructing alternative stocks of R&D-Capital that take into account that time plays an important role in assessing the pay-off of industrial research. The results show that even when we employed...