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Innovations and productivity: the shift during the 2008 crisis

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  • Grigorii V. Teplykh

Abstract

This paper investigates how the recent crisis of 2008 changed relations between innovation and firm performance in Western Europe. We apply a structural framework of CDM modelling, which incorporates different stages of the knowledge creation process and takes into account the complex nature of innovations. The study is based on a balanced panel data of 420 listed manufacturing firms from the U.K., Germany and France. All the information is gathered from common sources, thereby reducing subjectivity, a typical problem in the field. We found, the crisis resulted in appreciable changes in the model. The most important evidence is enhancement of the role of firm resources in the post-recession period. We also reveal larger barriers for innovations, increased uncertainty and lower state dependence in R&D engagement, product creation and economic performance. These results could indicate the ‘cleaning effect’ of the crisis, which has worsened the business environment and enhanced competition.

Suggested Citation

  • Grigorii V. Teplykh, 2018. "Innovations and productivity: the shift during the 2008 crisis," Industry and Innovation, Taylor & Francis Journals, vol. 25(1), pages 53-83, January.
  • Handle: RePEc:taf:indinn:v:25:y:2018:i:1:p:53-83
    DOI: 10.1080/13662716.2017.1286461
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    References listed on IDEAS

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    Cited by:

    1. Silvia Blasi & Silvia Rita Sedita, 2018. "The diffusion of a policy innovation in the energy sector: evidence from the collective switching case in Europe," "Marco Fanno" Working Papers 0229, Dipartimento di Scienze Economiche "Marco Fanno".

    More about this item

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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