Innovation and Productivity of Dutch Firms: A Panel Data Analysis

Time: Tuesday September 11th, 13.00-14.00 hours
Location: CPB-office, Van Stolkweg 14, The Hague

Presentation: Mark Vancauteren (Hasselt University)

Discussant: Victoria Shestalova (CPB)

Language: English

Registration:  Please register by sending an email to seminars@cpb.nl.

Abstract subject: This paper revisits the innovation-productivity relationship based on the empirical research initiated by Crépon, Duguet, and Mairesse (1998). Contrary to earlier research, we match the entire population of patents issued by the European Patent Office to roughly 3000 firms (group enterprises), located in the Netherlands, for the 2000-2006 period. We estimate a structural, dynamic panel data model that disentangles the impact of R&D expenditure on (European) patents and the impact of patents on Multi-Factor Productivity Growth, allowing for the possibility that a firm does not report its R&D. We find evidence that R&D affects the output innovation positively and significantly which in turn has a positive impact on productivity. The persistence of input and output innovation is statistically confirmed but does not appear to affect the innovation-productivity relationship.

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