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Lecture 2- Innovation&tech.docx - Lecture 2 A Global...

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Lecture 2: A Global Perspective on Innovation 1. How to measure innovation? 1.- Observational data on new product/service launches • Websites, trade-fairs, industry journals, adver,sements • Challenging to collect systematically (countries, industries & firms) • Process innovations are more difficult to track 2.- Questionnaires sent to firms, asking about new products and processes • Broad set of informa,on related to innova,on can be asked • Costly process: population?, sampling?, survey design? ... • High response rates needed • Respondee bias • Ex.: European Community Innova,on survey (CIS) – what was the impact in economic terms for the firm from your new products. 3.- Patents • Patent informa,on can be accessed quite easily • Not all inventions are patented: industry-dependent (bcs patents cannot happen, deppends on the industry, country, etc…) • Inventions, not necessarily innovations - • Patents very skewed with respect to economic value 4.- R&D expenses Easily available from income statements (particularly US) • Input factor for innovation, not output • Innovation can also stem from non-R&D prac,ces or from R&D conducted by others • Overall solid indicator for quantifying the extent of innovative activities of countries and firms 2. Who innovates? 1) Innovation by country – R&D expenditures:USA, China, Japan. We are measuring by the money, it doesnt mean that they are the most innovative country in the world. It would have to be relative to the countries size.
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