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http://hdl.handle.net/10419/36382
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| Title: | | Innovation, competition and incentives for R&D  |
| Authors: | | Wörter, Martin Rammer, Christian Arvanitis, Spyros |
| Issue Date: | | 2010 |
| Series/Report no.: | | ZEW Discussion Papers 10-039 |
| Abstract: | | This paper analyses the relationship between past innovation output, competition, and future innovation input in a dynamic econometric setting. We distinguish two dimensions of competition that correspond to the concepts of product substitutability and entry barriers due to fixed costs. Based on firm-level panel data for Germany and Switzerland we obtain consistent results for both countries. Innovation output in t-1 as measured by the sales share of innovative products is positively related to the degree of product obsolescence in t, and negatively to the degree of substitutability in t in both countries. Further, we find that rapid product obsolescence provides positive incentives for higher - primarily product-oriented - R&D investments in t+1, while high substitutability exerts negative incentives for future R&D investment. |
| Subjects: | | Innovation R&D Competition |
| JEL: | | O3 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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