Do process innovations boost SMEs productivity growth?

In this paper we explore in depth the effect of process innovations on total factor productivity growth for small and medium enterprises (SMEs), taking into account the potential endogeneity problem that may be caused by self selection into these activities. First, we analyse whether the ex-ante most productive SMEs are those that start introducing process innovations; then, we test whether process innovations boost SMEs productivity growth using matching techniques to control for the possibility that selection into introducing process innovations may not be a random process. We use a sample of Spanish manufacturing SMEs for the period 1991-2002, drawn from the Encuesta sobre Estrategias Empresariales. Our results show that the introduction of process innovations by a first-time process innovator yields an extra productivity growth as compared to a non-process innovator, and that the life span of this extra productivity growth has an inverted U-shaped form. En este artículo se exploran los posibles efectos de la introducción de innovaciones de proceso en el crecimiento de la productividad de las pequeñas y medianas empresas (PYMES). Para ello se presta especial atención a la existencia de un problema de selección no aleatorio en la implementación de tales innovaciones. En primer lugar, se analiza si son aquellas empresas ex-ante más productivas las que introducen innovaciones de proceso. A continuación, se utilizan técnicas de matching para contrastar si la implementación de innovaciones de proceso acelera el crecimiento de la productividad de las PYMES. La utilización de técnicas de matching permite controlar la posible existencia de un proceso de selección no aleatorio en la implementación de innovaciones de proceso. El análisis empírico se lleva cabo usando una muestra de PYMES manufactureras españolas extraída de la Encuesta sobre Estrategias Empresariales. Nuestros resultados muestran que la implementación de innovaciones de proceso por parte de PYMES sin experiencia previa en la introducción de tales innovaciones, produce un crecimiento extra de la productividad de estas PYMES en comparación con el de aquellas PYMES que no implementan innovaciones de proceso. Adicionalmente, nuestros resultados sugieren la existencia de una relación en forma de U invertida entre el crecimiento extra de la productividad y el tiempo transcurrido desde la introducción de la innovación de proceso.innovaciones de proceso, PTF, dominancia estocástica, técnicas de matching. process innovations, TFP, stochastic dominance, matching techniques.

SUNK COSTS HYSTERESIS IN SPANISH MANUFACTURING EXPORTS

This paper tests the sunk costs explanation for hysteresis in exports using a sample of Spanish manufacturing firms for the period 1990-2000. The data are drawn from the Spanish Encuesta sobre Estrategias Empresariales. To obtain consistent estimates for sunk costs, we control for all other sources of persistence and use a dynamic random effects multivariate probit model that is estimated through pseudo simulated maximum-likelihood techniques. Our results support the sunk costs explanation for hysteresis. Furthermore, regional spillovers and some firm characteristics such as size, productivity or vertical and horizontal product differentiation are found to have a significant influence on the probability of exporting. El objetivo de este artículo es analizar el papel de los costes irrecuperables como factorexplicativo de la histéresis de las exportaciones. Para ello se hace uso de una muestra deempresas industriales españolas para el período 1999-2000, que proviene de la Encuestasobre Estrategias Empresariales. Con el objetivo de obtener estimaciones consistentespara los costes irrecuperables, controlamos por todas las posibles fuentes alternativas depersistencia y estimamos nuestro modelo usando técnicas de pseudo máximaverosimilitud simulada. Nuestros resultados confirman a los costes irrecuperables comocausante de la histéresis de las exportaciones. Adicionalmente, encontramos que lasexternalidades regionales y algunas características empresariales tales como tamaño,productividad o diferenciación horizontal y vertical tienen un impacto significativosobre la probabilidad de exportar.Histéresis de las exportaciones, costes irrecuperables, modelos dinámicos de elección discrecional hysteresis in trade, sunk costs, dynamic discrete choice models

The effect of foreign and domestic patents on total factor productivity during the second half of the 20th century

This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the 20th century. We perform this analysis for several European countries (France, Germany, the United Kingdom, and Spain) and the U.S., extending Coe and Helpman’s (1995) empirical specification to include human capital. We use a new dataset of patents data for the past 150 years to calculate the stock of knowledge using the perpetual inventory method. Our time series empirical analysis confirms the heterogeneous relationship between innovation variables (domestic stock of knowledge, imports of knowledge, and human capital) and productivity. Our results reveal the extent to which observed differences in technology adoption patterns and the levels of endowment of such resources can explain differences in TFP dynamics across countries. The estimated coefficients confirm the considerable gap that still exists between the European countries and the U.S. in innovation-related variables. Furthermore, we obtain a finding that may have important implications for innovation policies: the higher the level of investment in human capital, the higher the level of investment in domestic innovation, and the higher the response of TFP to a 1% increase in any of the aforementioned variablesEste trabajo analiza la relación entre la productividad total de los factores (PTF ) y las variables relacionadas con la innovación durante la segunda mitad del siglo XX . Este análisis se lleva a cabo en varios países europeos (Francia, Alemania, el Reino Unido y España) y en Estados Unidos, ampliando el trabajo de Coe y Helpman (1995) sobre la especificación empírica para incluir el capital humano. Utilizamos un nuevo conjunto de datos de patentes durante los últimos 150 años para calcular el stock de conocimiento mediante el método de inventario permanente. Nuestro análisis empírico con series temporales confirma la relación heterogénea entre las variables de innovación (stock de conocimiento nacional, importaciones de conocimiento y capital humano) y la productividad. Nuestros resultados ponen de manifiesto hasta qué punto las diferencias observadas en los patrones de adopción de tecnología y los niveles de dotación de esos recursos pueden explicar las diferencias en la dinámica de la PTF entre países. Los coeficientes estimados confirman la brecha considerable que aún existe entre los países europeos y EE.UU. en las variables relacionadas con la innovación. Además, se obtiene un hallazgo que puede tener importantes implicaciones para las políticas de innovación: cuanto mayor sea el nivel de inversión en capital humano, mayor es el nivel de inversión en innovación nacional y mayor será la respuesta de la PTF a un aumento del 1 % en alguna de las variables mencionadas previament

The effect of foreign and domestic patents on total factor productivity during the second half of the 20th century

This paper analyses the relationship between total factor productivity (TFP) and innovation-related variables during the second half of the 20th century. We perform this analysis for several European countries (France, Germany, the United Kingdom, and Spain) and the U.S., extending Coe and Helpman’s (1995) empirical specification to include human capital. We use a new dataset of patents data for the past 150 years to calculate the stock of knowledge using the perpetual inventory method. Our time series empirical analysis confirms the heterogeneous relationship between innovation variables (domestic stock of knowledge, imports of knowledge, and human capital) and productivity. Our results reveal the extent to which observed differences in technology adoption patterns and the levels of endowment of such resources can explain differences in TFP dynamics across countries. The estimated coefficients confirm the considerable gap that still exists between the European countries and the U.S. in innovation-related variables. Furthermore, we obtain a finding that may have important implications for innovation policies: the higher the level of investment in human capital, the higher the level of investment in domestic innovation, and the higher the response of TFP to a 1% increase in any of the aforementioned variablesEste trabajo analiza la relación entre la productividad total de los factores (PTF ) y las variables relacionadas con la innovación durante la segunda mitad del siglo XX . Este análisis se lleva a cabo en varios países europeos (Francia, Alemania, el Reino Unido y España) y en Estados Unidos, ampliando el trabajo de Coe y Helpman (1995) sobre la especificación empírica para incluir el capital humano. Utilizamos un nuevo conjunto de datos de patentes durante los últimos 150 años para calcular el stock de conocimiento mediante el método de inventario permanente. Nuestro análisis empírico con series temporales confirma la relación heterogénea entre las variables de innovación (stock de conocimiento nacional, importaciones de conocimiento y capital humano) y la productividad. Nuestros resultados ponen de manifiesto hasta qué punto las diferencias observadas en los patrones de adopción de tecnología y los niveles de dotación de esos recursos pueden explicar las diferencias en la dinámica de la PTF entre países. Los coeficientes estimados confirman la brecha considerable que aún existe entre los países europeos y EE.UU. en las variables relacionadas con la innovación. Además, se obtiene un hallazgo que puede tener importantes implicaciones para las políticas de innovación: cuanto mayor sea el nivel de inversión en capital humano, mayor es el nivel de inversión en innovación nacional y mayor será la respuesta de la PTF a un aumento del 1 % en alguna de las variables mencionadas previament

Human capital and the intertemporal substitution for leisure : empirical evidence for Spain

In this paper we provide the first estimate of the intertemporal substitution for leisure in Spain, accounting for the impact of human capital accumulation. This would allow uncovering whether the intertemporal labour supply of Spanish workers is affected by human capital. Our empirical strategy consists of estimating the equation for the intertemporal substitution of leisure with and without accounting for human capital, what allows to detect hypothetical estimation biases associated to omitting the impact of human capital. To that end, we build a pseudo-panel data set combining the Spanish Family Expenditure Survey and the Labour Survey over the period 1987–1997. While the model that ignores human capital accumulation provides an estimate of the intertemporal elasticity of substitution for leisure about 0.25, comparable to previously available estimates for Spain and other economies, the model with human capital provides an estimate about 0.5, what confirms the existence of a bias in the former estimates. Finally, this bias is larger for the younger cohorts than for the older ones.info:eu-repo/semantics/publishedVersio

Manager gender, entrepreneurial orientation and SMEs export and import propensities: evidence for Spanish businesses

This paper investigates the role of manager gender in SMEs’ decisions to get involved in exporting and importing activities, using a sample of 1,405 Spanish SMEs. We borrow insights from international entrepreneurship theories and feminist theories to set testable hypotheses regarding how managerial gender and entrepreneurial orientation (proactiveness, risk-taking and innovativeness) may influence SMEs export and import propensities. Using a bivariate probit model and controlling for other managerial and business characteristics, results reveal that there are not significant disparities in exporting propensities between men- and women-run businesses. However, female-led SMEs show a lower importing propensity, in comparison to male-led counterparts. In addition, the three entrepreneurial orientation dimensions (proactiveness, risk-taking and innovativeness) are important drivers for participating in overseas markets, and do not depend upon the manager gender. This work provides new empirical evidence on the comparison between men- and women-run SMEs as regards export/import behavior and thus, it contributes to improve our knowledge on the role of gender in SMEs internationalization. The role of manager’s gender in SMEs import propensity has not been investigated so far, and this is the main novelty of our research.We acknowledge fnancial support from Grant ECO2017-86793-R funded by MCIN/AEI/10.13039/501100011033 and by “ERDF A way of making Europe”; from Generalitat Valenciana (project PROMETEU/2019/095); from Spanish Ministry of Economy and Competitiveness (ECO2014-55745-R) and from Instituto de Estudios Fiscales del Ministerio de Hacienda (Spanish Treasury Ministry). Funding for open access charge: Universidad de Málaga / CBUA

Infrequency of Purchase: A Model for Clothing Consumption with Panel Data

Microeconomic survey data sets offer important advantages for the analysis of consumer demand, although one of the problems associated with these data is the existence of zeros in the expenditure records of households. One of the reasons behind a zero record is infrequency of purchase. This paper focuses on the analysis of infrequency of Purchase Models (IPMs). We develop an IPM for panel data and compare it with the IPM for cross-sectional data. The estimation of these models using panel data might shed some light on the restrictions that one has to make in order to estimate them using cross-sectional data. Finally, we test for individual heterogeneity and compare the two sets of estimation results. The data are drawn from the "Spanish Family Expenditure Survey" (ECPF) for the period 1985 to 1991.

The Decision to Invest in R&D: A Panel Data Analysis for Spanish Manufacturing

Abstract This paper examines the factors determining firms' probability of investing in R&D activities using a sample of Spanish manufacturing firms drawn from the Encuesta sobre Estrategias Empresariales, for the period 1990-2000. We estimate a panel data discrete choice model that allows controlling for unobserved firm heterogeneity, using maximum-likelihood techniques. Our results show that export intensity, a significant market share, highly qualified workforce, firm size, labor productivity, advertising intensity, and regional and local technological spillovers have a positive and significant influence on the probability of investing in R&D. In addition, this probability decreases with firm age and foreign participation in the capital of the firm