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Long-Term Productivity Effects of Public Support to Innovation in Colombia

Author

Listed:
  • Gustavo Crespi
  • Lucas Figal Garone
  • Alessandro Maffioli
  • Marcela Melendez

Abstract

In this study, we evaluate the effect of innovation promotion programs administrated by the Colombian Innovation Agency (COLCIENCIAS). The evaluation focuses on programs that provide financial incentives for research and development (R&D)—matching grants and contingent loans—and encourage the formation of linkages among firms, universities, and other public research organizations. We use longitudinal firm-level data and adopt a fixed effects identification strategy to control for potential selection biases. The findings show that COLCIENCIAS financial incentives have increased labor productivity as a result of gains in total factor productivity (TFP) due to product diversification and, to a lesser extent, of capital intensification.

Suggested Citation

  • Gustavo Crespi & Lucas Figal Garone & Alessandro Maffioli & Marcela Melendez, 2015. "Long-Term Productivity Effects of Public Support to Innovation in Colombia," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 51(1), pages 48-64, January.
    • Handle: RePEc:mes:emfitr:v:51:y:2015:i:1:p:48-64
    DOI: 10.1080/1540496X.2015.998080
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    Cited by:

    1. Florencia Fiorentin & Mariano Pereira & Diana Suárez, 2020. "The relationship between public funds, innovation and employment among Argentinean manufacturing firms," Journal of Evolutionary Economics, Springer, vol. 30(3), pages 773-791, July.
    2. Crespi, Gustavo & Figal Garone, Lucas & Maffioli, Alessandro & Stein, Ernesto, 2020. "Public support to R&D, productivity, and spillover effects: Firm-level evidence from Chile," World Development, Elsevier, vol. 130(C).
    3. Casaburi, Gabriel & Crespi, Gustavo & De León, Ignacio L. & Figal Garone, Lucas & Grazzi, Matteo & Guaipatín, Carlos & Katz, Jorge & Llisterri, Juan J. & Maffioli, Alessandro & Navarro, Juan Carlos & , 2016. "La política de innovación en América Latina y el Caribe: Nuevos caminos," IDB Publications (Books), Inter-American Development Bank, number 7705.
    4. Lucas Figal Garone & Paula A. López Villalba & Alessandro Maffioli & Christian A. Ruzzier, 2020. "Productivity differences among firms in Latin American and the Caribbean," Working Papers 136, Universidad de San Andres, Departamento de Economia, revised Jan 2020.
    5. Victoria Castillo & Lucas Figal Garone & Alessandro Maffioli & Moira Ohaco, 2016. "Asistencias técnicas y competitividad de las MiPyMEs: Evidencia para Argentina," IDB Publications (Working Papers) 96960, Inter-American Development Bank.
    6. Srhoj, Stjepan & Walde, Janette, 2020. "Getting ready for EU Single Market: The effect of export-oriented grant schemes on firm performance," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 279-293.
    7. Ondřej Dvouletý & Ivana Blažková, 2019. "The Impact of Public Grants on Firm-Level Productivity: Findings from the Czech Food Industry," Sustainability, MDPI, vol. 11(2), pages 1-24, January.
    8. Busom, Isabel & Vélez-Ospina, Jorge Andrés, 2017. "Innovation, Public Support, and Productivity in Colombia. A Cross-industry Comparison," World Development, Elsevier, vol. 99(C), pages 75-94.
    9. Crespi, Gustavo & Figal Garone, Lucas & Maffioli, Alessandro & Stein, Ernesto H., 2019. "Innovation, Productivity, and Spillover Effects: Evidence from Chile," IDB Publications (Working Papers) 9464, Inter-American Development Bank.
    10. Stjepan Srhoj & Michael Lapinski & Janette Walde, 2019. "Size matters? Impact evaluation of business development grants on SME performance," Working Papers 2019-14, Faculty of Economics and Statistics, Universität Innsbruck.
    11. Marco Túlio Dinali Viglioni & Mozar José Brito & Cristina Lelis Leal Calegario, 2020. "Innovation and R&D in Latin America and the Caribbean countries: a systematic literature review," Scientometrics, Springer;Akadémiai Kiadó, vol. 125(3), pages 2131-2167, December.
    12. Federico Bernini & Lucas Figal Garone & Alessandro Maffioli, 2017. "Certificación internacional de calidad: ¿Señalizando a quién?: Impacto en el desempeño de empresas en Argentina," IDB Publications (Working Papers) 97438, Inter-American Development Bank.
    13. Gabriel Casaburi & Gustavo Crespi & Ignacio L. De León & José Fernández & Lucas Figal Garone & Matteo Grazzi & Carlos Guaipatín & Jorge Katz & Juan J. Llisterri & Alessandro Maffioli & Juan Carlos Nav, 2016. "La política de innovación en América Latina y el Caribe: Nuevos caminos," IDB Publications (Books), Inter-American Development Bank, number 94816 edited by Juan Carlos Navarro & Jocelyn Olivari, February.

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