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Innovations and productivity: the shift during the 2008 crisis

  • Grigorii V. Teplykh

    ()

    (National Research University Higher School of Economics)

Innovations and related knowledge are important drivers of corporate success in modern economies. However the crisis of 2008 strongly influenced investment decisions including R&D expenditure. This may be explained by the fact that the crisis has changed a transformation of corporate resources into economic benefit. Innovation activity is found to be a survival factor during the downturn. The aim of this study is to investigate how the crisis has changed relations between innovation and firm performance in western Europe. We apply a structural framework of the CDM model which takes into account endogeneity and selection bias. The study is based on new balanced panel data of 429 western European manufacturing firms.

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File URL: http://www.hse.ru/data/2014/01/20/1327090769/23STI2014.pdf
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Paper provided by National Research University Higher School of Economics in its series HSE Working papers with number WP BRP 23/STI/2014.

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Length: 26 pages
Date of creation: 2014
Date of revision:
Publication status: Published in WP BRP Series: Science, Technology and Innovation / STI, January 2014, pages 1-26
Handle: RePEc:hig:wpaper:23sti2014
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