Innovation over the industry life-cycle: Evidence from EU manufacturing
AbstractEmpirical research has revealed some regularities regarding the innovation that takes place over the industry life-cycle. First, innovation is high when an industry is young and low when the industry matures, and second, product innovation decreases with industry maturity, while process innovation increases. The implications of these regularities are profound, but evidence is to date largely case based and it is hard to generalize and draw policy conclusions. We use a flexible measure of maturity and a novel modeling approach to investigate innovation patterns for 21 European manufacturing industries. Our results strongly support both assertions and lend support to life-cycle based R&D-policy.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 86 (2013)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/jebo
Growth; Life-cycle; Innovation; Stochastic frontier analysis; Manufacturing industries;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
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