Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on Their Dynamics

40 Pages Posted: 22 Jul 2009

See all articles by Wladimir Raymond

Wladimir Raymond

University of Maastricht

Pierre Mohnen

Maastricht University - UNU-MERIT

Franz C. Palm

University of Maastricht - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute)

Sybrand Schim van der Loeff

University of Maastricht

Date Written: July 2009

Abstract

This paper studies the dynamic relationship between input and output of innovation in Dutch manufacturing using an unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum likelihood a dynamic panel data bivariate tobit with double-index sample selection accounting for individual effects. We find persistence of innovation input and innovation output, a lag effect of the former on the latter and a feedback effect of the latter on the former. The lag effect remains significant in the high-tech sector even after four years. Firm and industry effects are also important.

Keywords: innovation, panel bivariate tobit model, innovation expenditures

JEL Classification: O31

Suggested Citation

Raymond, Wladimir and Mohnen, Pierre and Palm, Franz C. and van der Loeff, Sybrand Schim, Innovative Sales, R&D and Total Innovation Expenditures: Panel Evidence on Their Dynamics (July 2009). CESifo Working Paper Series No. 2716, Available at SSRN: https://ssrn.com/abstract=1437496

Wladimir Raymond

University of Maastricht ( email )

P.O. Box 616
Maastricht, 6200MD
Netherlands

Pierre Mohnen

Maastricht University - UNU-MERIT ( email )

P.O. Box 616
Maastricht, 6200 MD
Netherlands
31-43-3884464 (Phone)
31-43-3884495 (Fax)

Franz C. Palm (Contact Author)

University of Maastricht - Department of Economics ( email )

P.O. Box 616
Maastricht, 6200 MD
Netherlands
+31-(0)43-3883833 (Phone)
+31-(0)43-3258535 (Fax)

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.cesifo.de

Sybrand Schim Van der Loeff

University of Maastricht ( email )

P.O. Box 616
Maastricht, 6200MD
Netherlands

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