Template-type: ReDIF-Paper 1.0
Author-Name: Raymond, Wladimir
Author-Email: w.raymond@maastrichtuniversity.nl
Author-Workplace-Name: Maastricht University
Author-Name: Mohnen, Pierre
Author-Email: mohnen@merit.unu.edu
Author-Workplace-Name: UNU-MERIT, and Maastricht University
Author-Name: Palm, Franz
Author-Email: f.palm@maastrichtuniversity.nl
Author-Workplace-Name: Maastricht University
Author-Name: Schim van der Loeff, Sybrand
Author-Email: s.loeff@maastrichtuniversity.nl
Author-Workplace-Name: UNU-MERIT, and Maastricht University
Title: Innovative Sales, R&D and Total Innovation Expenditures:Panel Evidence
	 on their Dynamics
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.
Classification-JEL: C33, C34, O31
Keywords: innovation, production function, panel data, CIS data, 
	 bivariate dynamic tobit, the Netherlands 
Series: UNU-MERIT Working Papers
Creation-Date: 2009
Number: 029
File-URL: http://www.merit.unu.edu/publications/wppdf/2009/wp2009-029.pdf
File-Format: application/pdf
File-Size: 275 Kb
Handle: RePEc:unm:unumer:2009029