BizKnowledge Watch

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It is now so widely recognized that innovation is a key driver of economic growth that has become something of a cliché. This new Policy Research Working Paper from the World Bank studies product innovation by firms with data from 68 countries, covering more than 25,000 firms in eight manufacturing sectors. The author, Daniel Lederman, assesses the predictions of inter-disciplinary research on innovation by firms. The econometric evidence suggests that globalization and local knowledge increase the likelihood that firms will introduce new products. By contrast, domestic regulatory impediments to competition are not robustly correlated with product innovation.

To read the full Working Paper, please click here

This entry was posted on Wednesday, February 25th, 2009 at 11:18 am and is filed under Innovation & Entrepreneurship. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below, or link to this permanent URL from your own site. Your comments will appear immediately, but I reserve the right to delete innapropriate comments.