The global crisis and firms’ investments in innovation

Caroline Paunov

Research Policy, 2012, vol. 41, issue 1, 24-35

Abstract: The longer term impact of the global crisis depends on how business innovation capacities were affected. Understanding which firms suffered most is essential for developing adequate post-crisis recovery policies. This paper provides first quantitative evidence on these questions based on an original firm-level dataset for eight Latin American countries in 2008–2009. We find the crisis led many firms to stop ongoing innovation projects. Probit regression results show that firms with access to public funding were less likely to abandon these investments. Younger firms and businesses supplying foreign multinationals or suffering export shocks were more likely to do so.

Keywords: Global crisis; Innovation investments; Firm-level analysis; Latin America (search for similar items in EconPapers)
JEL-codes: D2 O3 O54 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (87)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0048733311001429
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:41:y:2012:i:1:p:24-35

DOI: 10.1016/j.respol.2011.07.007

Access Statistics for this article

Research Policy is currently edited by M. Bell, B. Martin, W.E. Steinmueller, A. Arora, M. Callon, M. Kenney, S. Kuhlmann, Keun Lee and F. Murray

More articles in Research Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().