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COVID-19, Innovative Firms and Resilience : Economic Research Working Paper No. 73.
2023
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Title
COVID-19, Innovative Firms and Resilience : Economic Research Working Paper No. 73.
Item Type
Working paper
Description
57 pages ; [28] cm.
Summary
This paper explores the empirical association between patents and various indicators of firm resilience during the COVID-19 pandemic with worldwide firm-level data from manufacturing industries. The study shows that patent-intensive firms have a reduced probability of exit, in particular if they are larger and if engaging with complementary investments in R&D and other intangibles. Additional estimates show that firm productivity has been an important transmission channel. Taken together, the results presented in the paper offer evidence-based findings pointing to patents as an important potential factor contributing to firm resilience during the COVID-19 pandemic. Policy insights are discussed.
Formatted Contents Note
Executive summary
1. Introduction
2. Previous literature on firm resilience during the COVID-19 pandemic
3. The data used in this study
4. Firm innovativeness and firm exit during the COVID-19 pandemic
4.1 The main correlates of patent-filling
4.2 The differential rate of survival of patent-filling firms
4.3 The characteristics of firms during the first two years of the COVID-19 pandemic
4.4 The direct effect of being innovative on firm resilience
5. Patent intensity and the margins of firm resilience during the COVID-19 pandemic
5.1 The extensive margin of firm resilience during the COVID-19 pandemic
5.1.1 Direct effects of patent intensity on the extensive margin of firm resilience
5.1.2 Conditional effects of patent intensity on the extensive margin of firm resilience
5.2 The intensive margin of firm resilience during the COVID-19 pandemic
5.2.1 Direct effects of patent intensity on the intensive margin of firm resilience
5.2.2 Conditional effects of patent intensity on the intensive margin of firm resilience
6. The productivity of innovative firms during the COVID-19 pandemic
7. Policy implications
1. Introduction
2. Previous literature on firm resilience during the COVID-19 pandemic
3. The data used in this study
4. Firm innovativeness and firm exit during the COVID-19 pandemic
4.1 The main correlates of patent-filling
4.2 The differential rate of survival of patent-filling firms
4.3 The characteristics of firms during the first two years of the COVID-19 pandemic
4.4 The direct effect of being innovative on firm resilience
5. Patent intensity and the margins of firm resilience during the COVID-19 pandemic
5.1 The extensive margin of firm resilience during the COVID-19 pandemic
5.1.1 Direct effects of patent intensity on the extensive margin of firm resilience
5.1.2 Conditional effects of patent intensity on the extensive margin of firm resilience
5.2 The intensive margin of firm resilience during the COVID-19 pandemic
5.2.1 Direct effects of patent intensity on the intensive margin of firm resilience
5.2.2 Conditional effects of patent intensity on the intensive margin of firm resilience
6. The productivity of innovative firms during the COVID-19 pandemic
7. Policy implications
Series
Series
Economics Working Papers ; no. 73.
Translations
Published
Geneva, Switzerland : World Intellectual Property Organization, 2023.
Language
English
Copyright Information
CC BY 4.0 WIPO
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