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A new approach to estimation of the R&D–innovation–productivity relationship
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- Baum, Christopher (author)
- Boston College, USA ; German Institute for Economic Research, Germany,Department of Economics, Boston College and Department of Macroeconomics, DIW Berlin, Germany
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- Lööf, Hans, 1961- (author)
- KTH,Nationalekonomi,Centrum för studier inom vetenskap och innovation, CESIS,KTH Royal Institute of Technology,Department of Industrial Economics and Management, Royal Institute of Technology, Stockholm, Sweden
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- Larijani, Pardis Nabavi, 1986- (author)
- KTH,Industriell ekonomi och organisation (Inst.),KTH Royal Institute of Technology,Department of Industrial Economics and Management, Royal Institute of Technology, Stockholm, Sweden
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- (creator_code:org_t)
- 2016-07-14
- 2017
- English.
- In: Economics of Innovation and New Technology. - England : Informa UK Limited. - 1043-8599 .- 1476-8364. ; 26:1-2, s. 121-133
- Journal article (peer-reviewed)
Abstract
Subject headings
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- We apply a generalized structural equation model approach to the estimation of the relationship between R&D, innovation and productivity that focuses on the potentially crucial heterogeneity across sectors. The model accounts for selectivity and handles the endogeneity of this relationship in a recursive framework which allows for feedback effects from productivity to future R&D investment. Our approach enables the estimation of the different equations as one system, allowing the coefficients to differ across sectors, and also permits us to take cross-equation correlation of the errors into account. Employing a panel of Swedish manufacturing and service firms observed in three consecutive Community Innovation Surveys in the period 2008–2012, our full-information maximum likelihood estimates show that many key channels of influence among the model's components vary meaningfully in their statistical significance and magnitude across six different sectors based on the OECD classification on technological and knowledge intensity. These results cast doubt on earlier research which does not allow for sectoral heterogeneity.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- community innovation survey
- generalized structural equation model
- innovation
- productivity
- R&D
- Economics
- Nationalekonomi
- Economics
- Nationalekonomi
- Economics
Publication and Content Type
- ref (subject category)
- art (subject category)
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