R&D is considered to be the main source of innovation. We argue that R&D is too broad a measure, including activities … of research and development on different innovation outputs. Results show that both research and development activities … are important. However, we find that development activities are more important for product innovation, while the effect of …

R&D is considered to be the main source of innovation. We argue that R&D is too broad a measure, including activities … of research and development on different innovation outputs. Results show that both research and development activities … are important. However, we find that development activities are more important for product innovation, while the effect of …