eprintid: 10152863
rev_number: 10
eprint_status: archive
userid: 699
dir: disk0/10/15/28/63
datestamp: 2022-07-29 10:04:50
lastmod: 2023-12-19 10:45:46
status_changed: 2022-07-29 10:04:50
type: article
metadata_visibility: show
sword_depositor: 699
creators_name: Fedyunina, A
creators_name: Radosevic, S
title: The relationship between R&D, innovation and productivity in emerging economies: CDM model and alternatives
ispublished: pub
divisions: UCL
divisions: D92
divisions: B03
keywords: Innovation, CDM model, R&D, Productivity, Technology capability, Emerging economies, Eastern Europe
note: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
abstract: CDM (Crépon, Duguet and Mairesse, 1988) is a workhorse model in the economics of innovation, which explains productivity in a three-stage procedure driven initially by R&D and leads to patents and then to productivity improvements. Based on the logic of this model, an increasing number of papers applies it to emerging economies but modifies the original model without being explicit about the nature and implications of this modification. We argue in this paper that, in its original form, CDM does not capture stylized facts of the determinants of productivity in emerging economies and that we need alternative models. Accordingly, we are critical of papers that try to maintain the validity of the model but actually change it. For that purpose, we test the original CDM model and its two alternatives: investment and production capability–driven models. Our research is based on a large sample of firms in Central and Eastern Europe, former Soviet republics and Turkey, and we show that the alternative models are much closer to the stylized facts of innovation activities and technology upgrading in these and other emerging economies. Our conclusions have important policy implications, which we discuss.
date: 2022-09
date_type: published
publisher: Elsevier BV
official_url: https://doi.org/10.1016/j.ecosys.2022.100998
oa_status: green
full_text_type: other
language: eng
primo: open
primo_central: open_green
verified: verified_manual
elements_id: 1966084
doi: 10.1016/j.ecosys.2022.100998
lyricists_name: Radosevic, Slavo
lyricists_id: SRADO39
actors_name: Radosevic, Slavo
actors_id: SRADO39
actors_role: owner
full_text_status: public
publication: Economic Systems
volume: 46
number: 3
article_number: 100998
issn: 0939-3625
citation:        Fedyunina, A;    Radosevic, S;      (2022)    The relationship between R&D, innovation and productivity in emerging economies: CDM model and alternatives.                   Economic Systems , 46  (3)    , Article 100998.  10.1016/j.ecosys.2022.100998 <https://doi.org/10.1016/j.ecosys.2022.100998>.       Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10152863/1/CDM%20Alternative_re-revised-final-March-submission.pdf