The effects of institutional change on innovation and productivity growth in the Swedish pharmaceutical industry

Claes Malmberg

No 2007/2, Papers in Innovation Studies from Lund University, CIRCLE - Centre for Innovation Research

Abstract: The relation between innovative output from the R&D process and total factor productivity (TFP) in the Swedish pharmaceutical industry has been investigated. The focus has been on the 1960s when the institutional conditions for innovation changed drastically in the pharmaceutical industry through new and stricter regulation. The short term effect of the new regulation was a shift towards quality products. Patenting increased and there were an increasing number of economically successful drugs based on new substances (NCEs). This had a positive impact on TFP growth.

Keywords: institutional change; innovation; imitation; productivity; patents; pharmaceutical industry; longitudinal (search for similar items in EconPapers)
JEL-codes: Q30 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2007-06-01
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:hhs:lucirc:2007_002

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