Keynes-plus? : effective demand and changes in firm-level R&D : an empirical note

E. Brouwer, A.H. Kleinknecht

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    49 Citations (Scopus)
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    Abstract

    Analysing changes over time in firm-level R and D efforts, we find that demand growth in a firm's sector of principal activity has a positive influence on changes in a firm's R and D effort, confirming Schmookler's (1969) 'demand-pull' hypothesis. This finding points to an aspect of effective demand which has never been directly noticed by Keynes or the Keynesians. Such findings are important because of evidence in the literature that a firm's innovation activities are positively related to employment growth, export intensity and profits.
    Original languageEnglish
    Pages (from-to)385-391
    JournalCambridge Journal of Economics
    Volume23
    Issue number3
    DOIs
    Publication statusPublished - 1999

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