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The paper examines implications of endogenous growth theory on the relationship between firm productivity, innovation as well as productivity growth by combining information on firm-level innovation (CIS) with accounting data for a large sample of Slovenian firms in the period 1996-2002. The authors employ several different estimation methods in order to control for the endogeneity of innovation (Cr?pon-Duguet-Mairesse - CDM - approach) and idiosyncratic firm characteristics (matching and average treatment effects). They find a significant and robust link between productivity levels and firm propensity to innovate, while the results on the link between innovation activity and productivity growth are not robust to different econometric approaches.
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