Trade and product innovations as sources for productivity increases: an empirical analysis |
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Authors: | Frank A G den Butter Jan L Möhlmann Paul Wit |
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Institution: | (1) Department of Economics, Vrije Universiteit, De Boelelaan 1105, 1081 HV Amsterdam, The Netherlands;(2) Department of Spatial Economics, Vrije Universiteit, Amsterdam, The Netherlands;(3) Algemene Rekenkamer (Netherlands Court of Audit), The Hague, The Netherlands |
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Abstract: | Increases in total factor productivity (TFP) are commonly associated with technological innovations measured by the stock
of R&D. Empirical evidence seems to corroborate this relationship. However, in trading countries like The Netherlands, productivity
increases, even in industry, can also be the result of innovations in the way transactions are managed. These innovations
reduce transaction costs and exploit the welfare gains from (further) international division of labour. Such innovations are
only partly included in R&D data. Consequently there is not much attention for these ‘trade innovations’—as we label them—in
policy. In an empirical analysis this paper compares the influence of trade innovations with the influence of the stock of
R&D on TFP in The Netherlands. The regression results show that in this country trade innovations are as important for TFP
as technological innovations which directly affect the efficiency of production, which we label ‘product innovations’.
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Keywords: | R& D Innovation Transaction costs Total factor productivity |
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