The global crisis and firms’ investments in innovation
AbstractThe longer term impact of the global crisis depends on how business innovation capacities were affected. Understanding which firms suffered most is essential for developing adequate post-crisis recovery policies. This paper provides first quantitative evidence on these questions based on an original firm-level dataset for eight Latin American countries in 2008–2009. We find the crisis led many firms to stop ongoing innovation projects. Probit regression results show that firms with access to public funding were less likely to abandon these investments. Younger firms and businesses supplying foreign multinationals or suffering export shocks were more likely to do so.
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Bibliographic InfoArticle provided by Elsevier in its journal Research Policy.
Volume (Year): 41 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/respol
Global crisis; Innovation investments; Firm-level analysis; Latin America;
Find related papers by JEL classification:
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- D2 - Microeconomics - - Production and Organizations
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
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- Fernandes, Ana M. & Paunov, Caroline, 2012. "The risks of innovation : are innovating firms less likely to die ?," Policy Research Working Paper Series 6103, The World Bank.
- Archibugi, Daniele & Filippetti, Andrea & Frenz, Marion, 2013.
"Economic crisis and innovation: Is destruction prevailing over accumulation?,"
Elsevier, vol. 42(2), pages 303-314.
- Daniele Archibugi & Andrea Filippetti & Marion Frenz, 2012. "Economic crisis and innovation: is destruction prevailing over accumulation?," Working Papers 6, Birkbeck Centre for Innovation Management Research, revised Apr 2012.
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