How Much do Technological Gap,Firm Size,and Regional Characteristics Matter for the Absorptive Capacity of Italian Enterprises?

The absorptive capacity—the ability of enterprises to efficiently absorb and internalise knowledge from outside sources—represents the link between firms’ capabilities to implement new products and the external stock of technological opportunities, such as those gleamed from Multinational Enterprises (MNEs). This paper explores whether the effect of foreign direct investment (FDI) on the productivity of Italian domestically-owned firms (DOFs) is dependent on their absorptive capacity. In particular, given the peculiar characteristics of the Italian productive system, our analysis focuses on three different dimensions of the absorptive capacity: the size of the technological gap between foreign-owned firms (FOFs) and DOFs, firm size, and the regional distribution of firms. Our findings suggest that technological gap and firm size matter considerably for the spillover effect. Moreover, spillovers exhibit a sub-national dimension present only in the northeastern region of the peninsula.     

Knowledge spillovers,absorptive capacity and total factor productivity in China’s manufacturing firms

Applying the stochastic frontier framework, this study explores the diffusion and absorption of technological knowledge in China’s manufacturing firms, based on a panel of more than 10,000 local and foreign-invested firms over the period 1998–2001. Our empirical approach allows us to distinguish between technological progress (TP) and technical efficiency (TE) in analysing whether R&D, exports and the presence of foreign direct investment simultaneously enhance TP through knowledge spillovers in a single framework and whether different types of domestic absorptive capacity moderate external knowledge spillovers in relation to TE. The results show that there are positive inter-industry productivity spillovers from R&D and foreign presence, whereas evidence of intra-industry productivity spillovers from FDI to Chinese firms is less robust. We find evidence that absorptive capacity is one of the key determinants to quantitatively explain intra-industry differences in productivity of local Chinese firms. The findings have important policy implications.     

知识溢出支撑集群企业创新跨越研究

培育集群企业技术创新能力是产业集群竞争优势的主要表现形式,而企业是集群中最活跃的行为主体,单个企业的技术创新能力在很大程度上反映了一个集群的技术创新能力.知识溢出、集群企业吸收能力是产业集群创新的关键要素.首先对集群企业技术创新能力、知识溢出、集群企业吸收能力的相关文献进行了综述,在此基础上归纳本文的研究要素,明确要素之间的逻辑关系;针对当前集群企业的现实,从吸收能力视角提出了知识溢出支撑集群企业技术创新能力跨越的理论分析框架,并从隐性知识、显性知识、吸收能力与集群企业技术创新能力跨越进行了分析,知识溢出对集群企业提升技术创新能力具有促进作用,而这种促进作用的大小受到集群企业本身吸收能力影响,即吸收能力增强了知识溢出对集群企业技术创新能力的促进作用.     

Heterogeneous Academic‐Industry Knowledge Linkage,Heterogeneous IPR,and Growth

Empirical evidence shows the existence of relevant spillovers from the stock of academic basic knowledge on industry. Interestingly, such spillovers are highly specific in that firms’ academic learning responds strongly to federally funded R&D in closely affiliated universities. Moreover, with the aim of enhancing such a technological transfer from academia to industry, the policy design of many OECD countries allows worthy academic ideas to be granted the same intellectual property rights (IPR) as industrial innovations. In distinguishing the stages of an R&D process within a dynamic general equilibrium model, this paper explicitly considers both industrial and government R&D efforts, with heterogeneous academic knowledge spillovers among industry lines. The results show that both the industrial R&D effort and the growth rate are spurred more by a “softer” IPR regime granted to academic ideas than by an increase in the industrial R&D subsidy.     

The Geography Of Knowledge Spillovers And Technological Proximity

This paper tests the presence of technological spillovers for the French case and studies why they occur. Based on a knowledge production function, spillovers are introduced as an external stock of knowledge. Two dimensions are improved: A geographical and a technological effect. The results indicate that technological externalities occur. Spillovers are conditional to technological proximity and, to a lesser extent, to geographical distance. However, externalities are not as generalized as they could be. They do not stem from the whole stock of external knowledge. They flow only through human capital. People thus appear as an essential channel for the diffusion of knowledge.     

Intra‐industry Knowledge Spillovers from Foreign Direct Investment in Research and Development: Evidence from China's “Silicon Valley”

This study examines a specific channel of technology diffusion from multinational enterprises to domestic firms in less developed regions: research and development (R&D) activities of multinational enterprises in the host country. Using firm‐level panel data from a Chinese science park, known as China's “Silicon Valley,” we find that the R&D stock of foreign‐owned firms has a positive effect on the productivity of domestic firms in the same industry, while the capital stock of foreign firms has no such effect. These results suggest that foreign firms' knowledge spills over within industries through their R&D activities, but not through their production activities. In addition, we find no evidence of spillovers from domestic firms or firms from Hong Kong, Macao, or Taiwan, suggesting that the size of knowledge spillovers is larger when the technology gap between source and recipient firms is larger.     

Product sophistication and spillovers from foreign direct investment

Foreign direct investment (FDI) in developing countries is often associated with higher economic growth due to knowledge and technology spillovers to local firms. One way that FDI speeds up growth is by facilitating the manufacturing of more sophisticated products by local firms. So far, there is a lack of firm‐level evidence how the presence of multinational firms affects the product sophistication of firms in a developing country. The aim of this paper is to fill this gap. We compile an extensive firm–product‐level data set of Indian manufacturing firms, which we complement with information on product sophistication and spillovers from FDI. We then explore different channels through which spillovers from multinationals to local Indian firms foster the manufacturing of sophisticated products. We find evidence that spillovers through supplier linkages strongly increase the manufacturing of sophisticated products in India.     

Technology flows between sectors and their impact on large-scale firms

In this article we highlight the importance of technology flows between sectors and their impact on the labour productivity of large-scale corporations. Based on theoretical considerations, we explore technological spillovers between the sectors of an economy. Large-scale corporations usually focus on certain sectors but make use of a wide range of technological knowledge from other sectors. Thereby, technological knowledge built up in sectors by continuous R&D activities does not spill over without bounds but is directed by firms’ absorptive capacities. We use firms’ patent portfolio to empirically calculate the sector affiliation and therewith the firms’ absorptive capacities in order to estimate the impact of technology diffusion on labour productivity. Fortune 500 firms serve as data base.     

The effectiveness of international knowledge spillover channels

Using panel data from 16 Organization for Economic Cooperation and Development (OECD) countries for the period 1981–2000, we examine the significance of international knowledge spillovers through inward and outward foreign direct investment (FDI), intermediate goods imports, and a disembodied direct channel. Knowledge spillovers through the disembodied direct channel are approximated by using a measure of technological proximity and patent citations between countries. Using estimation models that reflect recent developments in non-stationary panel data econometrics, we show that international knowledge spillovers through inward FDI and the disembodied direct channel are significant and robust. In contrast, outward FDI and imports of intermediate goods are not conducive to international knowledge spillovers.     

Intensity of R&D competition and the generation of innovations in heterogeneous setting

This paper discusses the role of technological spillovers and technological races in dynamic strategic interactions setup. Two firms invest simultaneously into new products creation and into further development of the quality of these products. Each firm may benefit from the costless technological spillover in case of technological leadership of the other firm. At the same time they cooperate in the joint creation of new products. Three different scenarios emerge: constant technological leadership, the technological leapfrogging and symmetric outcome with or without potential spillovers. R&D is maximal for the first scenario and minimal for the symmetric play under the threat of spillover with endogenous specialization of firms’ activities in cases of constant leadership and leapfrogging. Definition of technological competition intensity as inverse to the technology gap allows to recover inverted-U relationship between those two in a multidimensional context.     

To innovate or to transfer?

FDI has been considered by many development economists as an important channel for transfer of technology to developing countries. It is suggested that modern, advanced technologies introduced by multinational firms can diffuse to domestic firms through spillovers. In this paper, we study innovation and technology transfer activities of domestic and foreign firms in Turkish manufacturing industries, and the impact of horizontal, vertical and labor spillovers on these activities. Our analysis shows that foreign firms are more innovative than their domestic counterparts, and transfer technology from abroad (mostly from their parent companies). Horizontal spillovers from foreign firms seem to be insignificant. The effects of foreign firms on technological activities of other firms in vertically related industries are ambiguous. High-tech suppliers tend to have a high rate of innovation when the share of foreign users is high, but the opposite is true for users: high-tech users supplied mainly by foreign firms tend to have a lower rate of innovation. Labor turnover is found to be the main channel of spillovers. Our findings reiterate the importance of tacitness of knowledge, and confirm that technology cannot easily be transferred through passive mechanisms.     

Technological races and stock market value: evidence from the pharmaceutical industry

We provide estimates of the abnormal stock market returns associated with pharmaceutical firms’ announcements of technological and regulatory successes in drug development. On the basis of these estimates, we find empirical support for two key features of technological race models. First, we observe that leaders in the innovation race record higher abnormal returns than do latecomers when they announce a success. Hence, firms should indeed be racing to complete the innovation process before their rivals. Second, pharmaceutical firms are adversely affected by the technological and regulatory success of their rivals, implying that interfirm spillovers in drug development are not sufficient to offset technological rivalry. Additional results are also produced regarding the impact of competition on R&D racing and the extent of therapeutic competition.     

Asymmetric knowledge flows and localization with endogenous R&D: A dynamic analysis

Empirical evidence suggests that technological spillovers also depend on the mode chosen by firms to serve the foreign market, since a closer location increases the degree of knowledge transmission. Therefore multinationals may want to locate subsidiaries near sources of technological innovation and domestic firms may take advantage of this closer location by absorbing more easily technological knowledge. Within this context we analyse the interaction between firms' international strategy and innovative performance by using a dynamic oligopoly model where knowledge flows increase with geographical proximity. Our results illustrate the relationship between firms' innovation and foreign expansion strategy when localized spillovers are considered.     

Firms’ productivity growth and R&D spillovers: An analysis of alternative technological proximity measures

This paper aim at assessing the impact of R&D spillovers on firms’ economic performance as measured by productivity growth. The construction of R&D spillovers is based on Jaffe's methodology (1988, 1996) which associates econometrics and data analysis. The main objective of the paper is to extend Jaffe's methodology by examining alternative methods for measuring R&D spillovers and to test their impacts in terms of the robustness of results. In particular, the method used to classify firms into technological clusters as well as the metrics implemented to appreciate firms’ technological proximities which enter the construction of spillovers are further investigated. In addition to R&D spillovers, firms’ own R&D capital, labour and physical capital are estimated by means of a Cobb–Douglas production function. The data set consists of a representative sample of 625 worldwide R&D intensive firms over the period 1987–1994.     

Absorptive capacity, efficiency effect and competitors�� spillovers

Standard innovation surveys do not consider incoming spillovers for non-innovative firms. As a consequence, empirical works may overestimate the absorptive capacity effect, particularly among competitors. The Swiss innovation surveys presented here measure the importance of knowledge for both innovating and non-innovating firms. This original feature enables us to show that knowledge from rivals actually deters manufacturing firms from engaging in R&D activities. We therefore provide stronger evidence that the efficiency effect due to intra-industry spillovers is larger than that generally estimated by data from standard surveys. The R&D based absorptive capacity is weaker than expected, and non-innovative firms as well as non-R&D firms heavily rely on their rivals’ knowledge to maintain their technological capacities.     

Inter-firm trust in buyer–supplier relations: Are knowledge spillovers and geographical proximity relevant?

This paper empirically examines the impact of knowledge spillovers and geographical proximity on inter-firm trust in buyer–supplier relations. In particular, the effects of incoming knowledge spillovers from vertically related firms and firms’ appropriability problems are analyzed. The results suggest that there is a positive relationship between incoming knowledge spillovers from business partners and the level of inter-firm trust. Firms’ appropriability problems, however, lead to a decrease in inter-firm trust. Firms that cannot protect their technical knowledge have a greater perception of customer (supplier) opportunism. Furthermore, estimation results indicate that inter-firm trust between geographically close partners exceeds inter-firm trust between distant partners.     

Stock price responses to the eco-points programme for electrical household appliances: evidence from Japan

This article examines the Japanese government’s ‘Project for Green Consumer Electronics to Promote Business through the Use of Eco-points’ and its economic impact on consumer electronics firms’ stock prices. There has been little research on the economic effect of this project. In order to achieve our aim, we employ event study methodology. Our results show that stock prices responded positively to programme adoption, thereby indicating that the programme had positive effects on the related firms’ performance. The results also show that the programme’s economic effects gradually decreased over each subsequent programme extension. This probably occurred because the programme targeted durable goods, which consumers do not replace frequently.     

知识溢出、吸收能力与本土供应商创新绩效——基于珠三角制造业企业的实证分析

笔者利用珠三角制造业企业调查问卷进行实证研究,重点考察吸收能力、知识溢出对本土供应商创新绩效的影响。研究结果表明:跨国公司的显性和隐性知识溢出对供应商技术创新有明显促进作用;供应商的吸收能力对知识溢出和创新绩效有正向调节作用,即供应商的吸收能力不仅有利于其技术创新,而且强化知识溢出对其创新绩效的促进作用;隐性知识溢出在吸收能力的正向调节作用下,对创新绩效的作用更明显。此外,笔者对国内市场导向和出口导向型供应商进行了分组检验。     

Technology Sourcing and Strategic Foreign Direct Investment

Empirical evidence suggests that technological spillovers are limited by distance. The present paper investigates the implications of this observation for the investment decisions of a technologically leading and lagging firm, located in different countries. Technological spillovers may induce “technology sourcing” foreign direct investment by the less advanced firm, as it seeks to upgrade its technology. Our main result, however, is that there may be strong incentives for the leading firm to undertake strategic investment abroad in order to prevent technology sourcing by the lagging firm. We analyze how trade costs, the technology gap between firms, technological spillovers, and the ability of a firm to transfer technology between plants affect the two firms’ entry decisions.     

国际农产品价格如何影响了中国农产品价格?

本文使用月度数据考察国际农产品价格是否影响中国农产品价格,以及影响程度和可能的影响机制。在控制了其他影响因素的条件下,本文证实了国际农产品价格对国内价格具有经济意义上的显著影响,各种农产品的国内价格对相同产品国际价格的反应程度存在较大差异,玉米、大米和大豆价格的国际价格弹性介于0.20到0.36之间,小麦的国际价格弹性为0.05左右,国内外农产品市场间高度的整合关系主要是通过国际贸易建立的。中国在未来为保持粮价稳定需要加大对农业的扶持力度,加强国内农产品储备,合理地对农产品贸易进行管制,建立农产品价格预警机制,并通过财政补贴等手段平抑因国际价格波动而带来的国内农产品价格上涨。