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The impact of science and technology parks on firms’ product innovation: empirical evidence from Spain

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  • Ángela Vásquez-Urriago
  • Andrés Barge-Gil
  • Aurelia Rico
  • Evita Paraskevopoulou

Abstract

Science and Technology Parks (STP) have attracted considerable attention and public funds in recent years. However, the conclusions on their effectiveness remain mixed. This work evaluates the impact of STP on firm product innovation in the Spanish context, as an example of a less developed innovation system in which regional and national governments are prioritizing STP initiatives. This work draws on a large sample of firms provided by the Spanish Survey on Technological Innovation that is conducted annually by the National Statistical Institute. We explore alternative econometric methods to obtain average treatment effects for firms located in 22 Spanish STPs. Our results show that Spanish STPs have a strong and positive impact on the probability and amount of product innovation achieved by STP located firms. These results hold when the endogeneity of STP location is taken into account. Copyright Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Ángela Vásquez-Urriago & Andrés Barge-Gil & Aurelia Rico & Evita Paraskevopoulou, 2014. "The impact of science and technology parks on firms’ product innovation: empirical evidence from Spain," Journal of Evolutionary Economics, Springer, vol. 24(4), pages 835-873, September.
    • Handle: RePEc:spr:joevec:v:24:y:2014:i:4:p:835-873
    DOI: 10.1007/s00191-013-0337-1
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    More about this item

    Keywords

    Science and Technology Parks; Product innovation; Treatment effects; Regional development policies; O25; L25; R53;
    All these keywords.

    JEL classification:

    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • H76 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other Expenditure Categories

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