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Investment in knowledge-based capital and productivity: firm-level evidence from a small open economy
journal contribution
posted on 2023-06-10, 00:02 authored by Mattia Di UbaldoMattia Di Ubaldo, Iulia SiedschlagThis paper examines the responsiveness of firm productivity to investment in knowledge-based capital (KBC) including a range of intangible assets such as research and development (R&D), intellectual property assets, computer software, organizational, and branding capital. A dynamic econometric model is estimated with micro-data from Ireland over the period 2006–2012. Ceteris paribus, the estimated average elasticity of productivity with respect to investment in KBC per employee is 0.3. In comparison to previous empirical studies, this paper goes beyond the representative firm approach and accounts for the heterogeneous behavior of firms which differ by ownership, size, export participation, and sector of activity. Further, the analysis finds that investing simultaneously in multiple KBC assets has complementary as well as substitution effects on firm productivity, with different interdependence patterns for specific investment combinations across groups of firms and sectors.
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Publication status
- Published
File Version
- Published version
Journal
Review of Income and WealthISSN
0034-6586Publisher
WileyExternal DOI
Issue
2Volume
67Page range
363-393Department affiliated with
- Economics Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2021-06-07First Open Access (FOA) Date
2021-06-07First Compliant Deposit (FCD) Date
2021-06-04Usage metrics
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