Advanced Search
MyIDEAS: Login

Economic crisis and innovation: Is destruction prevailing over accumulation?

Contents:

Author Info

  • Archibugi, Daniele
  • Filippetti, Andrea
  • Frenz, Marion

Abstract

The 2008 economic crisis has severely reduced the short-term willingness of firms to invest in innovation. But this reduction has not occurred uniformly and a few firms even increased their investment in spite of the adverse macroeconomic environment. This paper, based on the latest three waves of the UK Community Innovation Survey, compares drivers of innovation investment before and during the crisis. We find that the crisis led to a concentration of innovative activities within a small group of fast growing new firms and those firms already highly innovative before the crisis. The companies in pursuit of more explorative strategies towards new product and market developments are those to cope better with the crisis.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/pii/S004873331200162X
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Research Policy.

Volume (Year): 42 (2013)
Issue (Month): 2 ()
Pages: 303-314

as in new window
Handle: RePEc:eee:respol:v:42:y:2013:i:2:p:303-314

Contact details of provider:
Web page: http://www.elsevier.com/locate/respol

Related research

Keywords: Economic crisis; Innovation investment; Community innovation survey;

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. K. Pavitt & M. Robson & J. Townsend, 1989. "Technological Accumulation, Diversification and Organisation in UK Companies, 1945--1983," Management Science, INFORMS, vol. 35(1), pages 81-99, January.
  2. Malerba, Franco & Orsenigo, Luigi, 1995. "Schumpeterian Patterns of Innovation," Cambridge Journal of Economics, Oxford University Press, vol. 19(1), pages 47-65, February.
  3. Raymond Wladimir & Mohnen, Pierre & Palm, Franz & Schim, van der Loeff, Sybrand, 2006. "Persistence of Innovation in Dutch Manufacturing: Is it Spurious?," Research Memorandum 009, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  4. Geroski, Paul A & Samiei, Hossein & Van Reenen, John, 1996. "How Persistently do Firms Innovate?," CEPR Discussion Papers 1433, C.E.P.R. Discussion Papers.
  5. Audretsch, David B, 1997. "Technological Regimes, Industrial Demography and the Evolution of Industrial Structures," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 49-82.
  6. Cefis, Elena, 2003. "Is there persistence in innovative activities?," International Journal of Industrial Organization, Elsevier, vol. 21(4), pages 489-515, April.
  7. Paunov, Caroline, 2012. "The global crisis and firms’ investments in innovation," Research Policy, Elsevier, vol. 41(1), pages 24-35.
  8. Roberto Alvarez & Jose Miguel Benavente & Gustavo Crespi, 2010. "Economic crisis and organisational change in developing countries: evidence from Chile," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 3(1), pages 67-86.
  9. Emmanuel Duguet & Stéphanie Monjon, 2004. "Is innovation persistent at the firm Level . An econometric examination comparing the propensity score and regression methods," Cahiers de la Maison des Sciences Economiques v04075, Université Panthéon-Sorbonne (Paris 1).
  10. Dosi, Giovanni, 1982. "Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change," Research Policy, Elsevier, vol. 11(3), pages 147-162, June.
  11. Filippetti, Andrea & Archibugi, Daniele, 2011. "Innovation in times of crisis: National Systems of Innovation, structure, and demand," Research Policy, Elsevier, vol. 40(2), pages 179-192, March.
  12. Martin Srholec & Bart Verspagen, 2008. "The Voyage of the Beagle in Innovation Systems Land. Explorations on Sectors, Innovation, Heterogeneity and Selection," Working Papers on Innovation Studies 20080220, Centre for Technology, Innovation and Culture, University of Oslo.
  13. Roberto Simonetti, 1996. "Technical Change and Firm Growth: 'Creative Destruction' in the Fortune List, 1963-1987," Open Discussion Papers in Economics 13, The Open University, Faculty of Social Sciences, Department of Economics.
  14. Roper, Stephen & Hewitt-Dundas, Nola, 2008. "Innovation persistence: Survey and case-study evidence," Research Policy, Elsevier, vol. 37(1), pages 149-162, February.
  15. Stephanie Robson & Martin Kenchatt, 2010. "First findings from the UK Innovation Survey 2009," Economic and Labour Market Review, Palgrave Macmillan, vol. 4(3), pages 28-35, March.
  16. Antonelli, Cristiano, 1997. "The economics of path-dependence in industrial organization," International Journal of Industrial Organization, Elsevier, vol. 15(6), pages 643-675, October.
  17. Malerba, Franco & Orsenigo, Luigi, 1997. "Technological Regimes and Sectoral Patterns of Innovative Activities," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 83-117.
  18. Carlota Perez, 2009. "The double bubble at the turn of the century: technological roots and structural implications," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 779-805, July.
  19. Breschi, Stefano & Malerba, Franco & Orsenigo, Luigi, 2000. "Technological Regimes and Schumpeterian Patterns of Innovation," Economic Journal, Royal Economic Society, vol. 110(463), pages 388-410, April.
  20. Evangelista, Rinaldo & Vezzani, Antonio, 2010. "The economic impact of technological and organizational innovations. A firm-level analysis," Research Policy, Elsevier, vol. 39(10), pages 1253-1263, December.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Hud, Martin & Hussinger, Katrin, 2014. "The impact of R&D subsidies during the crisis," ZEW Discussion Papers 14-024, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Waters, James, 2013. "The Sarbanes-Oxley Act, industrial innovation, and real option creation," MPRA Paper 49173, University Library of Munich, Germany.
  3. Grigorii V. Teplykh, 2014. "Innovations and productivity: the shift during the 2008 crisis," HSE Working papers WP BRP 23/STI/2014, National Research University Higher School of Economics.
  4. Nunes, Sérgio & Lopes, Raul, 2013. "Economic crisis and the firms´ innovation process," MPRA Paper 47715, University Library of Munich, Germany.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:respol:v:42:y:2013:i:2:p:303-314. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.