Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on their Dynamics

Raymond, Wladimir, Mohnen, Pierre, Palm, Franz and Schim van der Loeff, Sybrand (2009). Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on their Dynamics. UNU-MERIT.

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UNU-MERIT Working Papers

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  • Author Raymond, Wladimir
    Mohnen, Pierre
    Palm, Franz
    Schim van der Loeff, Sybrand
    Title Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on their Dynamics
    Publication Date 2009
    Publisher UNU-MERIT
    Abstract This paper studies the dynamic relationship between input and output of innovation in Dutch manufacturing using an unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum likelihood a dynamic panel data bivariate tobit with double-index sample selection accounting for individual effects. We find persistence of innovation input and innovation output, a lag effect of the former on the latter and a feedback effect of the latter on the former. The lag effect remains significant in the high-tech sector even after four years. Firm and industry effects are also important.
    Keyword Innovation production function
    Panel data
    CIS data
    Bivariate dynamic tobit
    Netherlands
    JEL C33
    C34
    O31
    Copyright Holder UNU-MERIT
    Copyright Year 2009
    ISSN 1871-9872
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    Created: Wed, 11 Dec 2013, 16:35:49 JST