Arbeitspapier

R&D behavior of German manufacturing companies during the 2008/09 recession

This paper investigates to what extent the R&D behavior of manufacturing companies was influenced by the 2008/09 crisis. Based on a broad official data set for German manufacturing companies, only a few companies that engaged in R&D during 2008 gave it up in the following year. Some companies even started R&D during crisis. R&D expenditures declined in 2009 compared to 2008, but expanded in 2010. The development of R&D expenditures was less volatile than sales. Probit analyses show that the occurrence of R&D in 2009 is very much determined by engagement in R&D in 2008 and that changes in demand are not relevant. However, fluctuation in demand proved to be relevant in the regressions computed where the intensity of R&D expenditures was the dependent variable. This result suggests that companies reacted counter cyclically in 2008/09, i.e. the reduction in R&D was smaller than the decline in demand, or the expansion of R&D expenditures was greater than the change in demand. Similar regressions for using R&D staff as the dependent variable did not find any influence of changes in demand. The results suggest that companies see R&D as a longer term task necessary to retain competitiveness.

Sprache
Englisch

Erschienen in
Series: DIW Discussion Papers ; No. 1357

Klassifikation
Wirtschaft
Business Fluctuations; Cycles
Industry Studies: Manufacturing: General
Innovation and Invention: Processes and Incentives
Thema
Research and development
Business cycle
Manufacturing

Ereignis
Geistige Schöpfung
(wer)
Eickelpasch, Alexander
Ereignis
Veröffentlichung
(wer)
Deutsches Institut für Wirtschaftsforschung (DIW)
(wo)
Berlin
(wann)
2014

Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Eickelpasch, Alexander
  • Deutsches Institut für Wirtschaftsforschung (DIW)

Entstanden

  • 2014

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