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|Persistence of innovation in time of crisis; an analysis of Italian firms
Libera Università degli Studi di Enna Kore
|Lunedì, 3 Dicembre 2018, 11:00
|IRCrES – CNR
Via dei Taurini 19, Roma
|This paper investigates the extent to which innovation persistence unfolds in “times of crisis”. By combining the extant literature with recent research on innovation along the downturn of business cycles, we expect that persistence hardly emerges in these times and that it is affected by the public support received by firms and by their business strategies. Drawing on the last three waves (2005-2013) of the MET survey on Italian firms, we find that innovation persistence is actually limited to process innovations, and to radical ones in particular. The detected persistence is reinforced by the public support firms receive for their ICT, while it is attenuated by that directed to their employment issues. Innovation persistence appears a business strategy itself, as firms seem to use it substitutively with that of intensifying their research and innovation efforts. Furthermore, innovation persistence appears limited to firms that face market competition through diversification strategies. Results suggest that a negative phase of the business cycle makes firm innovation relatively discontinuous, and that its persistence could trade-off with specific kinds of support and business strategies in the same situation.
|Mini – Bio
|Sandro Montresor è professore ordinario di Politica Economica e direttore del Dottorato in Economia presso la Libera Università degli Studi di Enna Kore. In precedenza ha svolto attività di ricerca presso l’Università di Bologna, Joint Research Center di Siviglia e il Consiglio Nazionale delle Ricerche (Istituto di Ricerca sulla Dinamica dei Sistemi Economici, ora Istituto di Ricerca sulla Crescita Economica Sostenibile).