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Young Leading Innovators and EU’s R&D intensity gap

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Abstract

Innovation in the European Union remains weak according to a number of key ‘input’ indicators, especially R&D investment by the business sector, and there are relatively few signs of progress. From a firm-level perspective, Europe’s innovation gap relative to the US results from an inappropriate industrial structure in which new firms do not play a significant role, especially in new high-tech sectors. This view of a structural EU innovation deficit has many supporters. But it has received little or no thorough empirical investigation. This paper aims to address this ‘evidence gap’. We find that compared to the US, the EU has fewer young firms among its leading innovators. But this accounts for only about one-third of the EU-US differential. The largest part of the differential is due to the fact that young leading innovators in the EU are less R&D intensive than their US counterparts. Further unravelling shows that this is almost entirely due to a different sectoral composition. We thus confirm that the EU-US private R&D gap is indeed mostly a structural issue.

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File URL: http://iri.jrc.ec.europa.eu/documents/10180/9afcd4d5-9d88-462e-ade1-69db13b08243
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Bibliographic Info

Paper provided by Institute of Prospective Technological Studies, Joint Research Centre in its series JRC-IPTS Working Papers on Corporate R&D and Innovation with number 2010-07.

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Length: 27 pages
Date of creation: Oct 2010
Date of revision:
Handle: RePEc:ipt:wpaper:201007

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Keywords: dynamics of firms; age of firms; EU-US R&D gap;

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References

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  1. C. Denis & K. Mc Morrow & W. R�ger & R. Veugelers, 2005. "The Lisbon Strategy and the EU's structural productivity problem," European Economy - Economic Papers 221, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  2. Bruno Van Pottelsberghe, 2008. "Europe's R&D: Missing the wrong targets?," ULB Institutional Repository 2013/167075, ULB -- Universite Libre de Bruxelles.
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Cited by:
  1. Francesco Bogliacino & Matteo Lucchese, 2011. "Access to finance for innovation: the role of venture capital and the stock market," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2011(4), pages 165-183.
  2. Peter Huber & Harald Oberhofer & Michael Pfaffermayr, 2014. "Job creation and the intra-distribution dynamics of the firm size distribution," Industrial and Corporate Change, Oxford University Press, vol. 23(1), pages 171-197, February.
  3. Segarra Blasco, Agustí, 1958- & Gombau, Verònica, 2013. "Young innovative firms and R&D strategies: is the Spanish case different?," Working Papers 2072/222200, Universitat Rovira i Virgili, Department of Economics.
  4. Pietro Moncada-Paternò-Castello & Peter Voigt, 2012. "Projection of R&D-intensive enterprise growth to the year 2020: Implications for EU policy?," JRC-IPTS Working Papers on Corporate R&D and Innovation 2012-01, Institute of Prospective Technological Studies, Joint Research Centre.
  5. Pietro Moncada-Paterno-Castello, 2011. "Companies' growth in the EU: What is research and innovation policy's role?," JRC-IPTS Working Papers on Corporate R&D and Innovation 2011-03, Institute of Prospective Technological Studies, Joint Research Centre.

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