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Demand-pulled innovation under liquidity constraints

Mariacristina Piva () and Marco Vivarelli ()

Applied Economics Letters, 2009, vol. 16, issue 3, pages 289-293

Abstract: Using a panel of 211 Italian manufacturing firms for 1995-2001 and the Least Squares Dummy Variable Corrected (LSDVC) estimator recently discussed in the econometric literature, it is shown that demand-pull innovation is particularly significant in liquidity-constrained companies in both the short run and long run.

Date: 2009

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