Análise de eficiência e produtividade da inovação na economia europeia.

  • Costa, L. (Supervisor)
  • Nelson Eduardo (Student)

Activity: Supervision

Description

Innovation drives economic growth. Its production involves the use of scarce resources. The more productive and efficient it is the greater will be economic growth. The present thesis aimed to analyze growth, productivity and efficiency of innovation production in the European Union (EU-28), in the period 2006-2012, as well as the impact of certain environmental variables on the technical inefficiency. The database comes from the Innovation Union Scoreboard 2014 report. The method employed was the stochastic frontiers analysis (SFA), specified according to Battese et Coelli (1995) model and using a Cobb–Douglas function. Innovation growth was decomposed in input accumulation, total factor productivity (TFP) changes and random shocks. TFP changes were decomposed in technological change, technical efficiency change and variations in returns to scale according to Kumbhakar et Lovell (2000) decomposition. Results show that the production of innovation has decreasing returns to scale. In the period under analysis there was no technological change. Innovation growth in the EU-28 resulted from productivity gains, accumulation of inputs and from a residual component. The productivity gains resulted exclusively from the increase of technical efficiency. We speculate that the residual component can be explained by the Great Recession. Technical inefficiency decreases with economic growth, higher standards of living, reduction of economic inequality, and the control of inflation and unemployment. Excessive financial liquidity and political decentralization contribute to increase technical inefficiency.
Period21 Jul 2015
Degree of RecognitionMaster