Template-type: ReDif-Paper 1.0
Author-Name: Raymond Wladimir 
Author-Name: Mohnen Pierre 
Author-Name: Palm Franz 
Author-Name: Schim van der Loeff Sybrand 
Author-workplace-name: METEOR
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 inDutch 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 onthe latter and a feedback effect of the latter on the former. The lag effect remains significantin the high-tech sector even after four years. Firm and industry effects are also important.
Keywords: Economics (Jel: A)
Series: Research Memoranda
Creation-Date: 2009
Number: 028
File-URL: http://edocs.ub.unimaas.nl/loader/file.asp?id=1422
File-Format: application/pdf
File-Size: 540822
Handle: RePEc:unm:umamet:2009028