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Financial Constraints and Other Obstacles: Are They a Threat to Innovation Activity?

Pierre Mohnen
Maastricht University - UNU-MERIT

Franz C. Palm
University of Maastricht - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Sybrand Schim Van der Loeff
University of Maastricht

Amaresh Kumar Tiwari
affiliation not provided to SSRN

January 2008

CESifo Working Paper Series No. 2204

Abstract:
In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms' decision to abandon, prematurely stop, seriously slow down, or not to start an innovative project. These results are compared with those from other studies in the Netherlands and other countries. We end with a discussion of policy measures that have been taken to overcome, or at least attenuate these obstacles, such as R&D tax incentives, venture capital financing and policy mix packages.

Keywords: financial constraints, innovations, innovation policy

JEL Classifications: O31, O38, D21

Working Paper Series

Date posted: January 30, 2008 ; Last revised: January 30, 2008

Suggested Citation

Mohnen, Pierre, Palm, Franz C., Van der Loeff, Sybrand Schim and Tiwari, Amaresh Kumar, Financial Constraints and Other Obstacles: Are They a Threat to Innovation Activity? (January 2008). CESifo Working Paper Series No. 2204. Available at SSRN: http://ssrn.com/abstract=1088649

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Contact Information

Franz C. Palm (Contact Author) University of Maastricht - Department of Economics ( email ) P.O. Box 616 6200 MD Maastricht Netherlands +31-(0)43-3883833 (Phone) +31-(0)43-3258535 (Fax)
CESifo (Center for Economic Studies and Ifo Institute for Economic Research) Poschinger Str. 5 DE-81679 Munich Germany HOME PAGE: http://www.cesifo.de
Pierre Mohnen Maastricht University - UNU-MERIT ( email ) P.O. Box 616 Maastricht 6200 MD Netherlands 31-43-3884464 (Phone) 31-43-3884495 (Fax) HOME PAGE: http://www.merit.unu.edu/about/profile.php?id=40
Amaresh Kumar Tiwari affiliation not provided to SSRN
Sybrand Schim Van der Loeff University of Maastricht ( email ) P.O. Box 616 6200 MD Maastricht 6200MD Netherlands

Abstract

References (41)

Citations (1)

Date posted: January 30, 2008 ; Last revised: January 30, 2008

Suggested Citation

Contact Information

Franz C. Palm (Contact Author)

Pierre Mohnen

Amaresh Kumar Tiwari

Sybrand Schim Van der Loeff