Canepa, Alessandra and Stoneman, Paul. (2008) Financial constraints to innovation in the UK: evidence from CIS2 and CIS3. Oxford Economic Papers, Vol.60 (No.4). pp. 711-730. ISSN 0030-7653

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Abstract

The role of financial factors as constraints to innovation in the UK is explored using data on individual returns to the second and third Community Innovation Surveys. It is found that financial factors do impact upon innovative activity and that impact is more severe in higher tech sectors and for smaller enterprises. These results extend but largely confirm the results in the extant literature by using a different approach to the standard cash flow based method, encompassing a wider class of investment phenomena (innovation rather than just RD) and exploiting a new data base.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions
Divisions:	Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Oxford Economic Papers
Publisher:	Oxford University Press
ISSN:	0030-7653
Official Date:	October 2008
Volume:	Vol.60
Number:	No.4
Number of Pages:	20
Page Range:	pp. 711-730
Identification Number:	10.1093/oep/gpm044
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/29360

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