Keynes-plus? Effective demand and changes in firm-level R&D: an empirical note
AbstractAnalyzing changes over time in firm-level R&D efforts we find that demand growth in a firm’s sector of principal activity has a positive influence on changes in a firm’s R&D effort, confirming Schmookler’s (1969) ‘demand-pull’ hypothesis. This finding points to an aspect of effective demand which has never been directly noticed by Keynes or the Keynesians. Such findings are important because of evidence in the literature that a firm’s innovation activities are positively related to employment growth, export intensity and profits.
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Bibliographic InfoPaper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0038.
Date of creation: 1997
Date of revision:
Find related papers by JEL classification:
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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