Natália Barbosa|Ana Paula Faria
Innovation across Europe: How important are institutional differences?
University of Minho|University of Minho
changing level competition andor affecting allocation resources institutions play important role innovation activity paper investigate relative importance institutional variation across european countries explaining differences innovation intensity industry level employ novel indicator innovation therefore circumventing limitations traditional indicators results broadly consistent previous empirical literature show stringent product labor market regulation affects innovation intensity negatively developed credit markets foster innovation however empirical findings also raise doubts respect strengthening intellectual property rights means stimulate innovation result accordance recent propositions literature