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R&D Expenditures and Geographical Sales Diversification

  • Christopher F Baum

    ()

    (Boston College
    DIW Berlin)

  • Mustafa Caglayan

    ()

    (Heriot-Watt University)

  • Oleksandr Talavera

    ()

    (University of Sheffield)

This paper empirically examines the role of diversification in export markets on firm-level R&D activities. We show that geographical sales diversification across different regions of the world induces UK firms to increase their R&D expenditures, as firms must innovate and develop new products to maintain a competitive edge over their rivals. This finding is robust to a battery of sensitivity checks. Furthermore, we find no evidence of reverse causality between R&D and sales diversification.

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Paper provided by Boston College Department of Economics in its series Boston College Working Papers in Economics with number 794.

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Date of creation: 30 Mar 2012
Date of revision: 12 Nov 2012
Publication status: forthcoming, Manchester School
Handle: RePEc:boc:bocoec:794
Note: Previously circulated as "R&D Expenditures and Export Sales Diversification"
Contact details of provider: Postal: Boston College, 140 Commonwealth Avenue, Chestnut Hill MA 02467 USA
Phone: 617-552-3670
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Web page: http://fmwww.bc.edu/EC/
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  1. Bronwyn Hall & Francesca Lotti & Jacques Mairesse, 2009. "Innovation and productivity in SMEs: empirical evidence for Italy," Small Business Economics, Springer, vol. 33(1), pages 13-33, June.
  2. Richard Harris & Qian Cher Li, 2009. "Exporting, R&D, and absorptive capacity in UK establishments," Oxford Economic Papers, Oxford University Press, vol. 61(1), pages 74-103, January.
  3. Sourafel Girma & Holger Görg & Aoife Hanley, 2008. "R&D and Exporting: A Comparison of British and Irish Firms," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 144(4), pages 750-773, December.
  4. Emre Özçelik & Erol Taymaz, 2001. "Does Innovativeness Matter for International Competitiveness in Developing Countries? The Case of Turkish Manufacturing Industries," ERC Working Papers 0107, ERC - Economic Research Center, Middle East Technical University, revised Jul 2001.
  5. Christopher F Baum & Mustafa Caglayan & Oleksandr Talavera, 2009. "The Effects of Future Capital Investment and R&D Expenditures on Firms' Liquidity," Boston College Working Papers in Economics 712, Boston College Department of Economics, revised 23 Jul 2012.
  6. Greenhalgh, C. & Taylor, P. & Wilson, R., 1991. "Innovation and Export Volumes and Prices- A Disaggregated Study," Economics Series Working Papers 99107, University of Oxford, Department of Economics.
  7. James R. Brown & Steven M. Fazzari & Bruce C. Petersen, 2009. "Financing Innovation and Growth: Cash Flow, External Equity, and the 1990s R&D Boom," Journal of Finance, American Finance Association, vol. 64(1), pages 151-185, 02.
  8. Alessandro Sterlacchini, 2001. "The determinants of export performance: A firm-level study of Italian manufacturing," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 137(3), pages 450-472, September.
  9. Richard Harris & John Moffat, 2011. "R&D, innovation and exporting," LSE Research Online Documents on Economics 33593, London School of Economics and Political Science, LSE Library.
  10. Jože P. Damijan & Črt Kostevc & Sašo Polanec, 2010. "From Innovation to Exporting or Vice Versa?," The World Economy, Wiley Blackwell, vol. 33(3), pages 374-398, 03.
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