Understanding the factors that may produce a sustained rate of innovation is important for promoting economic … development and growth. In this paper, we examine the role of human capital in firms’ innovation by using a large sample of … small and medium sized cities. Patent applications are used as the measure of innovation. Human capital indicators used …

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly … individual effects and idiosyncratic errors correlated across equations and that differ in the way innovation enters the … Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and …

This paper examines how trade liberalization affects the innovation incentives of firms, and what this implies for …

Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of … the “inverted-U” relationship between innovation and competition to a merger setting. …