This paper aims to assess the impact of both geographic and industrial diversification of economic activities on the productivity performance of large European R&D Multinational Enterprises (MNEs). Based on the worldwide subsidiaries of these firms, we measure the performance of the firms...

This paper explores the existence and importance of financing constraints for R&D investments in large EU and US manufacturing companies over the period 2000–2007. The main results obtained by estimating error-correction equations suggest that the sensitivity of R&D investments to cash flow...

This paper examines the sources of Europe's lagging business R&D performance relative to the US, particularly the role played by missing young leading innovators in high technology intensive sectors in Europe. It investigates through econometric analysis differences in the rates of return to R&D...

This paper examines the sources of Europe's lagging business R&D performance relative to the US, particularly the role played by missing young leading innovators in high technology intensive sectors in Europe. It investigates through econometric analysis differences in the rates of return to R&D...

International R&D activities have grown significantly over the last two decades. Both the number of actors involved, as well as the importance of the technological activity carried out abroad, has considerably increased. We aim to quantify the international generation of knowledge for the case...

Europe's innovation gap relative to the USA is often attributed to its industrial structure in which new firms do not play a significant role, especially in high-tech sectors. This view of a structural European Union (EU) innovation deficit is popular in European innovation policy discussions,...

This Chapter presents the NEMESIS macro-econometric model. This model has been used for several ex-ante and ex-post evaluations of the macroeconomic impact of EU R&I policies. After a general overview of the model, a thorough description of the representation of innovation in the model is...