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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.

Suggested Citation

  • Grigorii V. Teplykh, 2014. "Innovations and productivity: the shift during the 2008 crisis," HSE Working papers WP BRP 23/STI/2014, National Research University Higher School of Economics.
  • Handle: RePEc:hig:wpaper:23sti2014

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    References listed on IDEAS

    1. Bronwyn Hall & Jacques Mairesse, 2006. "Empirical studies of innovation in the knowledge-driven economy," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(4-5), pages 289-299.
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    4. Hall, Bronwyn H & Griliches, Zvi & Hausman, Jerry A, 1986. "Patents and R and D: Is There a Lag?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 265-283, June.
    5. Archibugi, Daniele & Filippetti, Andrea & Frenz, Marion, 2013. "Economic crisis and innovation: Is destruction prevailing over accumulation?," Research Policy, Elsevier, vol. 42(2), pages 303-314.
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    8. repec:fth:harver:1473 is not listed on IDEAS
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    More about this item


    innovations; economic crisis; CDM model;

    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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