Search results for: rd-patents-and-productivity

R D Patents and Productivity

Author : Zvi Griliches
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"An essential reference for specialists in the economics of technological change."--D. G. McFertridge, Canadian Journal of Economics

Research Development Patents and Productivity

Author : Zvi Griliches
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Notes on Patents Distortions and Development

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Essays on Innovation and Productivity

Author : Zhiyuan Chen
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My studies focus on the determinants and aggregate implications of innovation and productivity. This dissertation includes three chapters. Chapter 1 in on the role of R&D investment in determining the relationship between finance and total factor productivity (TFP). Chapter 2 is on the quantification of the costs and benefits of R&D and patent. The last Chapter provides an analysis of the driving forces behind the patent growth in China. Firms in developing countries are less innovative than that are in developed economies. A large body of literature has documented that the lack of financial support has hindered firms from participating in R&D investment. How much does the R\&D channel account for the productivity loss caused by financial constraints? How does R&D investment affect the efficacy of self-financing in the reduction of TFP losses? In Chapter 1, I attempt to shed light on each of these questions by using a quantitative model of R&D investment with financial frictions. In the model, R&D investment, which affects productivity evolution endogenously, is subject to financial constraints. I parameterize the model with production, innovation, and balance sheet data from manufacturing firms in China, a country with relatively less developed financial markets. Through the lens of the model, I first quantify static and dynamic TFP losses. I then analyze the transition dynamics and the steady state of the model. Finally, to gauge the importance of R&D investment for understanding the relationship between finance and TFP, I compare the results of the estimated model with a model's special case in which the productivity process is exogenous. The estimated model implies sizeable static TFP losses caused by capital misallocation and dynamic TFP losses from distorting R&D investment. The accumulation of internal funds reduces the static TFP loss gradually. In contrast, because R&D has a persistent effect on productivity, the dynamic TFP loss rises initially and declines later. Compared to a model with exogenous productivity, innovation investment makes firms less able to use self-financing to reduce TFP losses and prolongs the transition. Endogenous productivity growth amplifies the gains in TFP and output from financial reform and leads to a longer-lasting consequence from a credit crunch. Improving the pledge-ability of intangible assets in China to be the US level reduces the static TFP loss only 0.4%, but the dynamic TFP loss by 7.1%. I explore several policy implications of the quantitative model. First, I consider a financial reform that relaxes the credit constraints permanently. I find that the boosting effects of financial reform on aggregate TFP and output are amplified when considering the endogenous response of R\&D investment. Second, I study a credit crunch by tightening the financial constraints for one period. I show that the detrimental impact of a credit crunch on aggregate TFP and output tends to be longer-lasting when I account for the endogenous growth of productivity. Different firms undertake different levels of R&D investment. Quantifying the costs and benefits of innovation activities is essential to the understanding of firms' incentives to innovate. Innovation is a process of producing new knowledge of new products or new processes. In the process, R&D in the input while patenting is part of the output. What are the benefits of R&D from patenting and non-patenting activities? In Chapter 2, I embed patents into the productivity evolution of a standard dynamic model of endogenous productivity change. I treat R&D as the fundamental source of endogenous productivity growth, but the marginal effect of R&D investment is affected by patenting activities. I propose a method to decompose the returns to R&D into patenting and non-patenting outcomes. The methodology also provides an evaluation of the patent value. I apply the model to a sample of Chinese high-tech manufacturing firms. The estimated model shows: first, on average R&D investment causes around 0.45% increase (or around 0.24 million USD) in the firm value. Second, a decomposition of the return to R&D shows that non-patenting innovation accounts for a majority (around 77%) of the total return to R&D. Third, the average expected value of an invention (a utility) patent is around 0.39 (0.34) million USD when measured by the increase in firm value. Lastly, the start-up costs of R&D is over ten times larger than maintenance costs. This reflects that starting a new innovation project requires a larger amount of investment than maintaining an ongoing research project. The distribution of R&D costs differs across industries. I also perform a series of counterfactual exercises to evaluate the effectiveness of different types of R&D subsidy policies that reduce the costs of R&D investment. Some interesting results are found. First, a lump-sum subsidy is universally more effective than a marginal subsidy either in increasing the firm value or promoting innovation participation. Second, for both types of subsidy programs, reductions in the maintenance costs cause a greater increase in the firm value. But subsidizing the start-up (maintenance) costs promotes innovation participation more under lump-sum (proportional) subsidy. Third, a lump-sum subsidy is more efficient than a proportional subsidy. In the experiment of a 20% decrease in maintenance costs for R&D, the average efficiency of lump-sum subsidy is around 12 times greater than the marginal subsidy in increasing firm value and is about twice greater in promoting the firm's innovation participation. The difference is more striking when I consider the subsidy for start-up costs of R&D. In the past three decades, China has experienced an explosive increase in both patent applications and patent granting. Breaking the patent counts into invention patents, utility models, and designs, this extraordinary growth prevails. If different types of patents represent distinct forms of innovation, patent heterogeneity should be important for understanding the driving forces behind China's patent surge as well as its policy implications. In Chapter 3, we study China's patent surge and its driving forces using a novel and comprehensive merged dataset on patent applications filed by Chinese firms. We find that R&D investment, FDI (Foreign Direct Investment), and patent subsidy have different effects on different types of patents. First, R&D investment has a positive and significant impact on patenting activities for all types of patents under different model specifications. Second, the stimulating effect of foreign direct investment on patent applications is only robust for utility model patents and design patents. Third, the patent subsidy only has a positive impact on design patents. The results imply that FDI and patent subsidy may disproportionately spur low-quality patents.

Trade in Ideas

Author : Jonathan Eaton
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We develop and estimate a model of technological innovation and its contribution to growth at home and abroad. International patents indicate where innovations come from and where they are used. Countries grow at a common steady-state rate. A country's relative productivity depends upon its capacity to absorb technology. We estimate that, except for the United States, OECD countries derive almost all of their productivity growth from abroad.

R D Patents and Productivity

Author : Zvi Griliches
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Do Technology Shocks Lead to Productivity Slowdowns Evidence from Patent Data

Author : Lone Engbo Christiansen
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This paper provides empirical evidence on the response of labor productivity to the arrival of new inventions. The benchmark measure of technological progress is given by data on patent applications in the U.S. over the period 1889-2002. The analysis shows that labor productivity may temporarily fall below trend after technological progress. However, the effects on productivity differ between the pre- and post-World War II periods. The pre-war period shows evidence of a productivity slowdown as a result of the arrival of new technology, whereas the post-World War II period does not. Positive effects of technology shocks tend to show up sooner in the productivity data in the later period.

A Model of Research Patenting and Productivity Growth

Author : Samuel Kortum
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International Patenting and Technology Diffusion

Author : Jonathan Eaton
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We model the invention of new technologies and their diffusion across countries. Our model predicts that, eventually, all countries will grow at the same rate, with each country's productivity ranking determined by how rapidly it adopts inventions. The common growth rate depends on research efforts in all countries, while research effort is determined by how much inventions earn at home and abroad. Patents affect the return to invention. We relate the decision to patent an invention internationally to the cost of patenting in a country and to the expected value of patent protection in that country. We can thus infer the direction and magnitude of the international diffusion of technology from data on international patenting, productivity, and research. We fit the model to data from the five leading research economies. The parameters indicate how much technology flows between these countries and how much each country earns from its inventions domestically and elsewhere. Our results imply that foreign countries are important sources of technology even though countries earn most of their return to innovation at home. For example, about half of U.S. productivity growth derives from foreign technology yet U.S. investors earn 98 per cent of the revenue from their inventions domestically.

Growth R D Spillovers and the Role of Patent Systems

Author : Bruno van Pottelsberghe de la Potterie
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This invaluable book provides a comprehensive overview of twenty years of research on the economics of innovation and patent policies. Edited by Bruno van Pottelsberghe de la Potterie, the papers in this volume witness twenty years of advanced empirical research — triggered by intensive collaboration and inspired by his own professional experience at the OECD, METI and the European Patent Office. The Editor's publications in these fields have greatly contributed to better understand how innovation can be stimulated, how it can be measured, through which channels it contributes to growth, with a particular emphasis on the role of patent systems. In the introductory chapter, the Editor provides an overview of each subfield of investigation, by explaining the genesis of the research projects and adding some personal history. The book first displays major empirical findings on the effectiveness of science and technology policies in stimulating R&D, on how these policies affect the contribution of R&D to economic growth, and how to measure international R&D spillovers and what are their most effective channels. The policies that aim at stimulating innovation include R&D subsidies, public R&D, and R&D tax credits. The chapters that follow present foundational work on patent count methodologies aiming at improving innovation metrics, as well as creative contributions on patent valuation models. The book then presents pioneering contributions on the design of patent systems, including a thorough work on the role of fees, far-reaching analyses on quality, and critical contributions on the governance of patent systems in general and the European patent system in particular.

A Study of Inventors

Author : Karin Hoisl
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Karin Hoisl is concerned with innovation processes and the involved inventors. Her focus is on the determinants of inventor productivity, the relationship between inventor mobility and inventor productivity, and the establishment of efficient incentive systems to commit key inventors to the firm.

Patents and Productivity Growth at the Industry Level

Author : Saul Eduardo Lach
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Innovation and Growth

Author : Martin Andersson
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This volume provides an understanding of firms' R&D and innovation strategies and their economy-wide consequences. It is based on the premise that differences in firm-level returns, as well as economy-wide outcomes, may be linked to the heterogeneous ways in which firms organize and undertake R&D and innovation activities. It emphasizes innovation strategies of innovating firms, and reflects that innovation efforts do not represent a uniform type of expenditure. Organized into three parts the volume moves from the micro to the macro-level. This structure highlights the notion that R&D and innovation and growth are two interdependent perspectives. The first of these is micro-oriented and focuses on innovation processes of firms, where R&D activities and other innovation efforts give rise to consequences such as a strengthening of resource bases, growth of sales and employment, patents, new products, increasing productivity and profits, and improved chances of survival. The second perspective comprises economy-wide effects in the form of overall technological change, growth in total factor productivity, and structural change processes, where certain sectors may benefit from new inputs from other sectors while others experience declining markets and reduced output. The book brings together contributions and perspectives from both economics and business scholars, and will appeal to academics, researchers, and students interested in R&D and innovation strategies, international business, business strategy, and the economics of technological change.

Research Productivity and Patent Quality

Author : Jean Olson Lanjouw
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Who Patents how Much is Real Invention and how Relevant A Snapshot of Firms and Their Inventions Based on the 2016 SIPO China Patent Survey

Author : Margit Molnar
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Abstract: China has surpassed the United States in patent applications and has become world leader. Strong patenting activity, however, did not lead to strong productivity growth. The delinking of patenting activity from productivity growth could be explained by quality and relevance issues. Although the number of patents has been soaring, few are genuine inventions. Relatively low utilisation rates of patents point to a low degree of relevance. This paper uses a representative survey of Chinese patenting firms to provide a detailed picture of the patenting landscape along the dimensions of geographical areas, detailed industrial sectors, traditional and modern industries as defined by the Chinese government, firm age, size and ownership. It also overviews government subsidies across firms. Transport equipment makers hold most patents per firm, followed by electronics manufacturers. State-owned firms spend more on R&D per patent, but hold fewer patents per researcher than private or foreign-invested firms. High patenting performance and government support are not necessarily linked to high utilisation of patents. Smaller, younger and private firms expect a higher return on their patents and so do exterior design patent holders. Furthermore, the paper examines what drives patenting activity. Higher R&D spending by the firm and higher share of researchers in its workforce tend to be associated with higher patents per employee. Smaller and older firms tend to patent more, and government support also appears to matter. Exterior design patents are associated with different firm characteristics: R&D intensity is lower and government support matters less. Most firms consider IPR protection insufficient and the share of firms having experienced patent infringement is the greatest among the largest firms. Many of them do not do anything once their rights are infringed as they do not expect effective remedy. Instead of patenting, which may not provide sufficient protection from imitators, they adopt other strategies like reaping the first mover advantage to market their goods or sign confidentiality agreements with their staff or contracts on commercial secrets. This Working Paper relates to the 2019 Economic Survey of China (http://www.oecd.org/economy/china-economic-snapshot/)

R D Patents and Productivity

Author : Z Griliches (Ed)
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Technological Change Productivity Growth

Author : A. Link
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This volume reviews the literature on productivity growth and relates it to the production function approach to technological change.

Research and Productivity Growth

Author : Samuel Kortum
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Research Innovation and Productivity

Author : Bruno Crépon
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This paper studies the links between productivity, innovation and research at th level. We introduce three new features: (i) A structural model that explains pro by innovation output, and innovation output by research investment; (ii) New dat manufacturing firms, including the number of European patents and the percentage sales, as well as firm-level demand pull and technology push indicators; (iii) E which correct for selectivity and simultaneity biases and take into account the features of the available data: only a small proportion of firms engage in resea apply for patents; productivity, innovation and research are endogenously determ investment and capital are truncated variables, patents are count data and innov We find that using the more widespread methods, and the more usual data and mode may lead to sensibly different estimates. We find in particular that simultaneit with selectivity, and that both sources of biases must be taken into account tog results are consistent with many of the stylized facts of the empirical literatu of engaging in research (R&D) for a firm increases with its size (number of empl share and diversification, and with the demand pull and technology push indicato capital intensity) of a firm engaged in research increases with the same variabl research capital being strictly proportional to size). The firm innovation outpu patent numbers or innovative sales, rises with its research effort and with the indicators, either directly or indirectly through their effects on research. Fin correlates positively with an higher innovation output, even when controlling fo the skill composition of labor as well as for physical capital intensity

Market Demand Technological Opportunity and Research Spillovers on R D Intensity and Productivity Growth

Author : Adam B. Jaffe
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This paper uses sales and patent distribution data to establish the market and technological "positions" of firms. A notion of technological proximity of firms is developed in order to quantify potential R&D spillovers. The importance of the position variables and the potential spilover pool in explaining R&D intensity, patent productivity and TFP growth is explored.I find that both technological and market positions are signifi-cant in explaining R&D intensity, and that the technological effects are significant in explaining patent productivity. I cannot distinguish between the two effects in explaining TFP growth. Spillovers are important in all three contexts. Firms in an area where there is a high level of research by other firms do more R&D themselves, they produce more patents per R&D dollar, and their productivity grows faster, even controlling for the increased R&D and patents. These effects are present controlling for both industry and technological position effects