Centro de Investigaciones Económicas - CINVE

Published Papers
  • “Does public financial support stimulate innovation and productivity? An impact evaluation”

    09/2015

    Autor(es):  Aboal, Diego – Garda, Paula. Resumen: This paper contributes to the empirical literature that evaluates the effects of public financial support to innovation on innovation expenditures, innovation itself and productivity in developing countries. Propensity score matching techniques and data from Inn ovation Surveys are used to analyse the impacts of public financial support to innovation on Uruguayan firms. The results indicate that there is no crowding-out effect of private innovation investment by public funds and that public financial support in Uruguay seems to increase private innovation expenditures. Financial support also appears to…

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  • Does Innovation Destroy Employment in the Services Sector? Evidence from a Developing Country

    06/2015

    Diego Aboal, Paula Garda, Bibiana Lanzilotta y Marcelo Perera Abstract The employment effect of innovation in the heterogeneous universe of services is investigated using firm-level data provided by the 2004–9 Uruguayan services innovation surveys. The empirical analysis shows that the effect of product innovation on employment is positive, while process innovation appears to have no effect. Process innovation activities tend to replace low-skilled jobs with jobs of a higher level of qualification. Product innovation allows for efficiency gains in the production of new services with unskilled labor, and no gains…

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  • Does public financial support to innovation increase innovation and productivity? An Impact Evaluation

    Diego Aboal, Paula Garda

    11/2013

    Abstract  The aim of this paper is to contribute to the scarce empirical literature that evaluates the effects of public financial support to innovation on innovation innovation and productivity in services. We apply propensity score matching techniques to analyze the impact of public financial support to innovation in Uruguayan firms. We use two waves of innovation surveys that allow us to distinguish between manufacturing and service sector firms. The results indicate that there is no crowding-out effect of private innovation investment by public funds, and that public financial support seems…

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  • Private Equity and Entrepreneurial Governance: Time for a Balanced View

    P. Klein, J. Chapman, and M. Mondelli

    08/2013

    P. Klein, J. Chapman, and M. Mondelli Academy of Management Perspectives, Forthcoming (Abstract) Download/Descargar Private equity (PE) is best understood not as a financing method, but as governance structure, one that emphasizes strong performance incentives, rules over discretion, and a strong alignment between ownership and management. Briefly, PE governance makes owners into active managers and makes managers behave like owners. As such, PE is often regarded as a more “entrepreneurial” form of governance than that associated with the publicly traded corporation. We argue for a balanced view in which PE is…

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  • Technological and Non-technological Innovation and Productivity in Services vis a vis Manufacturing in Uruguay

    Diego Aboal y Paula Garda

    12/2012

    In this paper, the links between the investment in innovation activities, innovation outputs (technological and non-technological innovation), and productivity in services and manufacturing are explored using innovation survey data from Uruguay. This is the first attempt to study these links for a developing country. The size of firms, their cooperation on R&D activities, the use of public financial support, patent protection, and the use of market sources of information, are the variables that are more consistently associated with the decision to invest in innovation activities across sectors. The main determinants of technological and non-technological innovations are the…

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