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Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on their Dynamics

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Author Info
Raymond Wladimir
Mohnen Pierre
Palm Franz
Schim van der Loeff Sybrand (METEOR)

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Abstract

This paper studies the dynamic relationship between input and output of innovation inDutch manufacturing using an unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum likelihood a dynamic panel data bivariate tobit with double-index sample selection accounting for individual effects.We find persistence of innovation input and innovation output, a lag effect of the former onthe latter and a feedback effect of the latter on the former. The lag effect remains significantin the high-tech sector even after four years. Firm and industry effects are also important.

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Paper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 028.

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Date of creation: 2009
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Handle: RePEc:dgr:umamet:2009028

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Keywords: Economics (Jel: A);

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