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Innovation and Growth: From R&D Strategies of Innovating Firms to Economy-wide Technological ChangeJanuary 24, 2013

The Dynamics of Innovation Strategies
  (Book Chapter)

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  • aEconomics Department, Maastricht University, Netherlands
  • bNordland Research Institute, BodØ, Norway

Abstract

This chapter investigates the effect of innovation on the productivity of firms when two technological paths are available: product innovation on the one hand, and process innovation on the other. This is done by estimating a nonlinear multiple-equation econometric model, which allows us to control for both selection and endogeneity. The results suggest that process innovation appears as the main driver of labour productivity in the manufacturing industry, but it is difficult to disentangle the respective effects of product and process innovation. Both types of innovation actually seem to capture 'overall' innovation, and when a single indicator of innovation is used, it always has a significantly positive impact on labour productivity, both in the manufacturing industry and in the services. © Oxford University Press 2012. All rights reserved.

Author keywords

FirmsInnovationProcess innovationProduct innovationProductivity
  • ISBN: 978-019174899-8;978-019964668-5
  • Source Type: Book
  • Original language: English
  • DOI: 10.1093/acprof:oso/9780199646685.003.0003
  • Document Type: Book Chapter
  • Publisher: Oxford University Press

  Verspagen, B.; Economics Department, Maastricht University, Netherlands
© Copyright 2015 Elsevier B.V., All rights reserved.

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