The Impact Of Science And Technology Parks On Firms? Product Innovation: Empirical Evidence From Spain

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Science and Technology Parks (STP) are one of the most important and extensive innovation policy initiatives introduced in recent years. This paper evaluates the impact of STP on firm product innovation in the Spanish context. Spain is less developed than most of the advanced countries, and regional and national governments are prioritizing STP initiatives. The large firm sample for the paper is from the Spanish Technological Innovation Survey, provided by the National Statistical Institute. The authors focus on average treatment effects for firms located in 22 Spanish STP. The results show that Spanish STP have a strong and positive impact on the probability and amount of product innovation achieved by STP located firms.