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The primacy of demand and financial obstacles in hindering innovation

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  • Zahler, Andrés
  • Goya, Daniel
  • Caamaño, Matías

Abstract

We study the effects of different types of obstacles to innovation on the probability of obtaining different firm-level innovation outcomes. We consider financial, knowledge, cooperation, regulatory and demand-related obstacles, which we separate into two categories: market structure and lack or uncertainty about demand.

Suggested Citation

  • Zahler, Andrés & Goya, Daniel & Caamaño, Matías, 2022. "The primacy of demand and financial obstacles in hindering innovation," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    • Handle: RePEc:eee:tefoso:v:174:y:2022:i:c:s0040162521006326
    DOI: 10.1016/j.techfore.2021.121199
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    3. Kraus, Sascha & Kumar, Satish & Lim, Weng Marc & Kaur, Jaspreet & Sharma, Anuj & Schiavone, Francesco, 2023. "From moon landing to metaverse: Tracing the evolution of Technological Forecasting and Social Change," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    4. Huang, Hongyun & Mbanyele, William & Wang, Fengrong & Song, Malin & Wang, Yuzhang, 2022. "Climbing the quality ladder of green innovation: Does green finance matter?," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    5. Jaureguy, Micaela Vidal & Bianchi, Carlos & Blanchard, Pablo, 2023. "Financial and knowledge barriers to innovation: Complementary and substitution effects on innovative effort," Research Policy, Elsevier, vol. 52(7).
    6. Perez-Alaniz, Mauricio & Lenihan, Helena & Doran, Justin & Rammer, Christian, 2024. "Subsidising innovation outside or within firms' existing knowledge base: Which is best for radical innovation?," ZEW Discussion Papers 24-007, ZEW - Leibniz Centre for European Economic Research.
    7. Wang, Qian & Du, Zhuo-Ya, 2022. "Changing the impact of banking concentration on corporate innovation: The moderating effect of digital transformation," Technology in Society, Elsevier, vol. 71(C).
    8. Agnė Šimelytė & Manuela Tvaronavičienė, 2022. "Technology Transfer from Nordic Capital Parenting Companies to Lithuanian and Estonian Subsidiaries or Joint Capital Companies: The Analysis of the Obtained Primary Data," Data, MDPI, vol. 7(10), pages 1-23, October.
    9. Bolz, Susanna & Thiele, Julian & Wendler, Tobias, 2024. "Regional capabilities and hydrogen adoption barriers," Energy Policy, Elsevier, vol. 185(C).

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    More about this item

    Keywords

    innovation obstacles; financial and demand barriers to innovation; sectoral heterogeneity; instrumental variables; demand for innovation;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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