COVID-19, Innovative Firms and Resilience

Michele Battisti, Filippo Belloc () and Massimo Del Gatto

No 73, WIPO Economic Research Working Papers from World Intellectual Property Organization - Economics and Statistics Division

Abstract: This paper explores the empirical association between patents and various indicators of firm resilience during the COVID-19 pandemic with worldwide firm-level data from manufacturing industries. The study shows that patent-intensive firms have a reduced probability of exit, in particular if they are larger and if engaging with complementary investments in R&D and other intangibles. Additional estimates show that firm productivity has been an important transmission channel. Taken together, the results presented in the paper offer evidence-based findings pointing to patents as an important potential factor contributing to firm resilience during the COVID-19 pandemic. Policy insights are discussed.

Keywords: Firm resilience; patents; productivity; COVID-19 (search for similar items in EconPapers)
JEL-codes: D20 L60 O30 (search for similar items in EconPapers)
Date: 2023-02
New Economics Papers: this item is included in nep-bec, nep-cse, nep-ipr, nep-sbm and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:wip:wpaper:73

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