Innovation and productivity in the Colombian service industry
Date
2013-06
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Publisher
Inter-American Development Bank (IDB)
Abstract
Findings show the ways that innovation and productivity are connected in the Colombian manufacturing and service industry: service firms engage in process innovation, both technological and nontechnological; the probability of undertaking innovation increases with investment in R&D labs and firm size, regardless of the industry; and the more intensive the investment in innovation, the higher the probability of introducing innovations. Econometric results indicate the response is higher in manufacturing than in services. Labor productivity is greatly enhanced by the introduction of innovations and; surprisingly, the estimated coefficient shows the effect is larger for service industries than for manufacturing.
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Working Paper
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Keywords
INNOVATION, PRODUCTIVITY, SERVICE INDUSTRY, LATIN AMERICA, COLOMBIA, RESEARCH AND DEVELOPMENT, NORTH AND CENTRAL AMERICA, MANUFACTURING, INVESTMENT, COMPETITIVENESS, INNOVATION BEHAVIOUR, ECONOMETRIC ANALYSIS, INNOVATION SYSTEMS