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Dynamic Models of R&D, Innovation and Productivity: Panel Data Evidence for Dutch and French Manufacturing

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  • Wladimir Raymond
  • Jacques Mairesse
  • Pierre Mohnen
  • Franz Palm

Abstract

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly been estimated on cross-sectional data. It considers four nonlinear dynamic simultaneous equations models that include individual effects and idiosyncratic errors correlated across equations and that differ in the way innovation enters the conditional mean of labor productivity: through an observed binary indicator, an observed intensity variable or through the continuous latent variables that correspond to the observed occurrence or intensity. It estimates these models by full information maximum likelihood using two unbalanced panels of Dutch and French manufacturing firms from three waves of the Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and of stronger persistence in productivity than in innovation.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 19074.

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Date of creation: May 2013
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Handle: RePEc:nbr:nberwo:19074

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  1. Jeffrey M. Wooldridge, 2005. "Simple solutions to the initial conditions problem in dynamic, nonlinear panel data models with unobserved heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 20(1), pages 39-54.
  2. Acemoglu, Daron & Zilibotti, Fabrizio & Aghion, Philippe, 2003. "Vertical Integration and Distance to Frontier," Scholarly Articles 4481512, Harvard University Department of Economics.
  3. Bettina Peters, 2005. "Persistence of Innovation: Stylised Facts and Panel Data Evidence," Development and Comp Systems, EconWPA 0511021, EconWPA.
  4. Bruno Crépon & Emmanuel Duguet & Jacques Mairesse, 1998. "Research, Innovation and Productivity : An Econometric Analysis at the Firm Level," Working Papers, Centre de Recherche en Economie et Statistique 98-33, Centre de Recherche en Economie et Statistique.
  5. Lung-fei Lee, . "A Numerically Stable Quadrature Procedure for the One-Factor Random Component Discrete Choice Model," Computing in Economics and Finance 1997, Society for Computational Economics 158, Society for Computational Economics.
  6. 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, Université Panthéon-Sorbonne (Paris 1) 98.15, Université Panthéon-Sorbonne (Paris 1).
  7. Flaig, Gebhard & Stadler, Manfred, 1994. "Success breeds success. The dynamics of the innovation process," Munich Reprints in Economics, University of Munich, Department of Economics 20366, University of Munich, Department of Economics.
  8. Rachel Griffith & Elena Huergo & Jacques Mairesse & Bettina Peters, 2006. "Innovation and Productivity Across Four European Countries," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 22(4), pages 483-498, Winter.
  9. Fariñas, Jose C. & Ruano, Sonia, 2005. "Firm productivity, heterogeneity, sunk costs and market selection," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 23(7-8), pages 505-534, September.
  10. Elena Huergo & Lourdes Moreno, 2011. "Does history matter for the relationship between R&D, innovation, and productivity?," Industrial and Corporate Change, Oxford University Press, vol. 20(5), pages 1335-1368, October.
  11. Wladimir Raymond & Pierre Mohnen & Franz Palm & Sybrand Schim van der Loeff, 2010. "Persistence of Innovation in Dutch Manufacturing: Is It Spurious?," The Review of Economics and Statistics, MIT Press, vol. 92(3), pages 495-504, August.
  12. Zvi Griliches, 1979. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," Bell Journal of Economics, The RAND Corporation, The RAND Corporation, vol. 10(1), pages 92-116, Spring.
  13. Parisi, Maria Laura & Schiantarelli, Fabio & Sembenelli, Alessandro, 2006. "Productivity, innovation and R&D: Micro evidence for Italy," European Economic Review, Elsevier, Elsevier, vol. 50(8), pages 2037-2061, November.
  14. Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, Econometric Society, vol. 57(2), pages 307-33, March.
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  17. Daron Acemoglu & Philippe Aghion & Fabrizio Zilibotti, 2002. "Distance to Frontier, Selection, and Economic Growth," NBER Working Papers 9066, National Bureau of Economic Research, Inc.
  18. Geroski, Paul A & Samiei, Hossein & Van Reenen, John, 1996. "How Persistently do Firms Innovate?," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1433, C.E.P.R. Discussion Papers.
  19. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1984. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
  20. Saman Majd & Robert S. Pindyck, 1985. "Time to Build, Option Value, and Investment Decisions," NBER Working Papers 1654, National Bureau of Economic Research, Inc.
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  22. Bhattacharya, Sudipto & Ritter, Jay R, 1983. "Innovation and Communication: Signalling with Partial Disclosure," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 50(2), pages 331-46, April.
  23. Hall, Bronwyn H & Griliches, Zvi & Hausman, Jerry A, 1986. "Patents and R and D: Is There a Lag?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 265-83, June.
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