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Innovations and productivity: the shift during the 2008 crisis

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  • Grigorii V. Teplykh

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    (National Research University Higher School of Economics)

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    Abstract

    Innovations and related knowledge are important drivers of corporate success in modern economies. However the crisis of 2008 strongly influenced investment decisions including R&D expenditure. This may be explained by the fact that the crisis has changed a transformation of corporate resources into economic benefit. Innovation activity is found to be a survival factor during the downturn. The aim of this study is to investigate how the crisis has changed relations between innovation and firm performance in western Europe. We apply a structural framework of the CDM model which takes into account endogeneity and selection bias. The study is based on new balanced panel data of 429 western European manufacturing firms.

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    File URL: http://www.hse.ru/data/2014/01/20/1327090769/23STI2014.pdf
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    Bibliographic Info

    Paper provided by National Research University Higher School of Economics in its series HSE Working papers with number WP BRP 23/STI/2014.

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    Length: 26 pages
    Date of creation: 2014
    Date of revision:
    Publication status: Published in WP BRP Series: Science, Technology and Innovation / STI, January 2014, pages 1-26
    Handle: RePEc:hig:wpaper:23sti2014

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    Keywords: innovations; economic crisis; CDM model;

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