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Knowledge production and firm growth in Brazil

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Author Info

  • João Alberto De Negri

    (Instituto de Pesquisa Econômica Aplicada)

  • Luiz Esteves

    ()
    (Department of Economics, Universidade Federal do Paraná)

  • Fernando Freitas

    ()

Abstract

The aim of this study is to gauge the impact of the production of knowledge on the accumulation of fixed capital in Brazil. The hypothesis is that investment in R&D causes investment in fixed capital in Brazilian industrial firms. The empirical estimates rest on an IPEA database for information on firms and the workers linked to these firms during the period 1996-2003 and on the National Innovation Survey (PINTEC) for information on technological development. In the article, various estimates are made using three empirical procedures. First, the firms that grew most and invested most are described. Second, econometric models relating R&D expenditures, technological innovation and the accumulation of fixed capital are estimated. A model having five equations and a structure similar to that of CDM models is estimated. The system employs instrumental variables to correct for endogeneity and solves the selection problem by including a firm-survival equation. Third, the causal relations between R&D and investment in fixed capital are sought through contrafactual analysis and a difference model. The results support the initial hypothesis, indicating that investments in R&D lead to an average 17% increase in investments in fixed capital among Brazilian firms.

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Bibliographic Info

Paper provided by Universidade Federal do Paraná, Department of Economics in its series Working Papers with number 0057.

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Length: 21 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:fup:wpaper:0057

Note: Creation Date corresponds to the year in which the paper was published on the Department of Economics website. The paper may have been written a small number of months before its publication date.
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Related research

Keywords: firm growth; knowledge production; R&D; innovation; simultaneous equation models;

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References

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  1. Saul Lach & Rafael Rob, 1996. "R&D, Investment, and Industry Dynamics," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 5(2), pages 217-249, 06.
  2. repec:fth:inseep:9833 is not listed on IDEAS
  3. Pierre Mohnen & Jacques Mairesse & Marcel Dagenais, 2006. "Innovativity: A comparison across seven European countries," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 391-413.
  4. Bruno Crepon & Emmanuel Duguet & Jacques Mairessec, 1998. "Research, Innovation And Productivi[Ty: An Econometric Analysis At The Firm Level," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 7(2), pages 115-158.
  5. Lööf, Hans & Heshmati, Almas, 2000. "Knowledge Capital and Performance Heterogeneity: A Firm Level Innovation Study," Working Paper Series in Economics and Finance 387, Stockholm School of Economics, revised 14 Aug 2000.
  6. George Van Leeuwen & Luuk Klomp, 2006. "On the contribution of innovation to multi-factor productivity growth," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 367-390.
  7. Hall, Bronwyn & Mairesse, Jacques, 2006. "Empirical studies of innovation in the knowledge driven economy," MERIT Working Papers 028, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  8. Crepon, B. & Duguet, E. & Mairesse, J., 1998. "Research Investment, Innovation and Productivity: An Econometric Analysis at the Firm Level," Papiers d'Economie Mathématique et Applications 98.15, Université Panthéon-Sorbonne (Paris 1).
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Citations

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Cited by:
  1. Fagerberg, Jan & Srholec, Martin & Verspagen, Bart, 2009. "Innovation and Economic Development," MERIT Working Papers 032, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  2. Francesco Bogliacino & Giulio Perani & Mario Pianta & Stefano Supino, 2010. "Innovation and Development. The Evidence from Innovation Surveys," Working Papers of BETA 2010-13, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  3. Gustavo Crespi & Pluvia Zuniga, 2010. "Innovation and Productivity - Evidence from Six Latin American Countries," Research Department Publications 4690, Inter-American Development Bank, Research Department.
  4. Sérgio Kannebley & Júlia Sekkel & Bruno Araújo, 2010. "Economic performance of Brazilian manufacturing firms: a counterfactual analysis of innovation impacts," Small Business Economics, Springer, vol. 34(3), pages 339-353, April.

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