Mostrar el registro sencillo del ítem

dc.contributor.authorBarrios, Fernando
dc.contributor.authorForero, Clemente
dc.contributor.authorPerry, Guillermo
dc.identifier.citationBarrios, F., Forero, C., & Perry, G. (2018). Public financial support and innovation in Colombian manufacturing firms. Working paper;N° 2018/07, Caracas: CAF. Retrieved from
dc.description.tableofcontentsWe evaluate the impact of public financial support, both subsidies and credit, on different types of innovation in Colombian industry. We compare it with the effects of financing innovation with own resources and with private loans, and analyze the issue of crowding-out, for different classes of innovation. To control for potential selection bias, we apply Propensity Score Matching (PSM) techniques to a sample of 9173 manufacturing firms for the period 2011-2012, combining data from two available sources (Development and Technological Innovation Survey –EDIT6- and Annual Manufacturing Survey –EAM-). Results show that public financial support has a significant positive effect on products new for the international market and on process innovations. We further find that allocation of own resources of the firm to innovation activities has a positive effect on a wide variety of forms of innovation. Notwithstanding, its impact is substantially smaller than that of public funding in the cases of products new for the international market and on new processes. Commercial loans for innovation activities have no significant effects on either product or process innovations. Finally, we find that public funding increases the probability of allocating own resources to finance innovation activities, but reduces the probability of using private external sources.es_ES
dc.relation.ispartofseriesWorking paper;N° 2018/07
dc.subjectFinanzas públicases_ES
dc.subjectInvestigación socioeconómicaes_ES
dc.subjectSector financieroes_ES
dc.titlePublic financial support and innovation in Colombian manufacturing firmses_ES

Ficheros en el ítem


Este ítem aparece en la(s) siguiente(s) colección(ones)

Mostrar el registro sencillo del ítem

Excepto si se señala otra cosa, la licencia del ítem se describe como CC-BY-NC