R&D AND NON-R&D INNOVATORS DURING THE GLOBAL FINANCIAL CRISIS: THE ROLE OF BINDING CREDIT CONSTRAINTS
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1 décembre 2016
- handle: 10670/1.1hltwm
Ce document est lié à :
10.7764/LAJE.53.1.1
info:eu-repo/semantics/openAccess
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Sandra M Leitner et al., « R&D AND NON-R&D INNOVATORS DURING THE GLOBAL FINANCIAL CRISIS: THE ROLE OF BINDING CREDIT CONSTRAINTS », Latin American Journal of Economics, ID : 10670/1.1hltwm
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Résumé
This analysis identifies the effects of prevailing credit constraints on efforts of formal R&D innovators and (informal) non-R&D innovators in the manufacturing sector in Latin America and examines whether the global financial crisis aggravated these effects. It demonstrates that formal R&D innovators faced binding credit constraints that severely disturbed their innovative efforts, while non-R&D innovators remained unaffected. Furthermore, the global financial crisis put no additional strain on either R&D or non-R&D innovators. The analysis also identifies characteristics of R&D and non-R&D innovators and points to important differences in size, age, or ownership structure but similarities in international trading activities.