Product Innovation, Research and Development and Technology Acquisition: A Case Study of the Industrial Sector in Colombia
Cesar Bernal-Torres () and
Edgar AlfonsoLizarazo ()
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Cesar Bernal-Torres: International School of Economic and Administrative Sciences, Universidad de La Sabana, Colombia
Edgar AlfonsoLizarazo: Faculty of Engineering, Universidad de La Sabana, Colombia
Institutions and Economies (formerly known as International Journal of Institutions and Economies), 2015, vol. 7, issue 2, 85-119
There has been a steady increase in the number of studies investigating the determinants of product innovation in the industrial sectors of emerging economies. This research analyses the relationship between Research and Development (R&D) activities and technology acquisition on the one hand, and product innovation in the industrial sector in Colombia on the other with respect to firm size and high-tech and low-tech firms. We used data from the Colombian National Administrative Department of Statistics for the period 2003 to 2012. The results show that both R&D activities and technology acquisition foster product innovation but the former has a stronger impact. Small and low-tech firms rely more on co-operation agreements while large high-tech firms depend on their formal R&D infrastructure. Based on these findings, key industrial policy implications are discussed.
Keywords: Colombian Industry; Determinants of Innovation; Product Innovation; Research and Development; Technology Acquisition. (search for similar items in EconPapers)
JEL-codes: L25 L60 O14 O31 O32 O54 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:umk:journl:v:7:y:2015:i:2:p:85-119
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