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Economic crisis and company R&D in Spain: do regional and policy factors matter?

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  • Laura Cruz-Castro
  • Adelheid Holl
  • Ruth Rama
  • Luis Sanz-Menéndez

Abstract

The economic crisis which began in 2008 has had a far-reaching impact, including effects on the innovation behaviour of firms. Many companies have reduced their innovation-related activities, although some firms have been more resilient than others. Using a representative microdata panel of Spanish firms, we study the probability of companies abandoning in-house R&D during the crisis and its relationship to regional and policy factors. We find significant regional heterogeneity related to regional economic size and the type of the regional innovation system; regional government R&D support only reduces R&D abandonment rates in regions where a strong system of knowledge exploitation is in place.

Suggested Citation

  • Laura Cruz-Castro & Adelheid Holl & Ruth Rama & Luis Sanz-Menéndez, 2018. "Economic crisis and company R&D in Spain: do regional and policy factors matter?," Industry and Innovation, Taylor & Francis Journals, vol. 25(8), pages 729-751, September.
    • Handle: RePEc:taf:indinn:v:25:y:2018:i:8:p:729-751
    DOI: 10.1080/13662716.2017.1355231
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    Cited by:

    1. Vitor Klein Schmidt & Aurora Carneiro Zen & Bernardo Fernandes Soares & Bruno Anicet Bittencourt, 2023. "Trajectory and cluster resilience elements: The case of the Brazilian wine cluster of the Serra Gaúcha," Growth and Change, Wiley Blackwell, vol. 54(2), pages 596-624, June.
    2. Antonio García-Sánchez & Ruth Rama, 2022. "Cooperative innovation and crises: Foreign subsidiaries, state-owned enterprises, and domestic private firms [Directorship Interlocks in Comparative Perspective: The Case of Spain]," Science and Public Policy, Oxford University Press, vol. 49(6), pages 915-927.
    3. Isabel Busom & Jorge-Andrés Vélez-Ospina, 2021. "Subsidising innovation over the business cycle," Industry and Innovation, Taylor & Francis Journals, vol. 28(6), pages 773-803, July.
    4. Ascensión Barajas & Elena Huergo & Lourdes Moreno, 2021. "The role of public loans in financing business R&D through the economic cycle," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(2), pages 505-538, July.
    5. Azagra-Caro, Joaquín M. & Tijssen, Robert J.W. & Tur, Elena M. & Yegros-Yegros, Alfredo, 2019. "University-industry scientific production and the Great Recession," Technological Forecasting and Social Change, Elsevier, vol. 139(C), pages 210-220.
    6. Bianchi, Mattia & Murtinu, Samuele & Scalera, Vittoria G., 2019. "R&D Subsidies as Dual Signals in Technological Collaborations," Research Policy, Elsevier, vol. 48(9), pages 1-1.
    7. Che, Xiao-Jing & Zhou, P. & Wang, M., 2022. "The policy effect on photovoltaic technology innovation with regional heterogeneity in China," Energy Economics, Elsevier, vol. 115(C).
    8. Martínez-Noya, Andrea & García-Canal, Esteban, 2021. "Innovation performance feedback and technological alliance portfolio diversity: The moderating role of firms’ R&D intensity," Research Policy, Elsevier, vol. 50(9).
    9. Fernando Bruna & Juan Fernández‐Sastre, 2021. "Regional characteristics and the decision to innovate in a developing country: A multilevel analysis of Ecuadorian firms," Papers in Regional Science, Wiley Blackwell, vol. 100(6), pages 1337-1354, December.

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