The purpose of this paper is to investigate the role of knowledge spillovers on productivity returns pharmaceutical leading firms. The analysis is based upon a dataset (sourced from the EU R&D investment scoreboards) made of R&D-intensive pharmaceuticals firms. In particular, we quantify the impact of R&D spillovers on the total factor productivity (TFP) between 2002 and 2010 on the basis of technological proximity. Thus, we elaborate more future scenarios to know what will happen, what can happen and how a predefined target may be obtained. Indeed, a numerical analysis for prediction of scenarios was conducted using the Method of Least Squares. The technological relatedness between the firms is computed through an original Mahalanobis industry weight matrix, based on the construction of technological vectors for each firm (Aldieri, 2013; Jaffe, 1986). The results confirmed the leadership of Europe and the USA in the pharmaceutical sector, highlighting the innovative capacity of Pfizer. The results might be interpreted to provide some useful implications for pharmaceutical policy strategy given that mainly in the pharmaceutical industry the private sector innovations derive from public-sector research investments.
The Future of Pharmaceuticals Industry within the Triad: The Role of Knowledge Spillovers in Innovation Process
Aldieri, L.;Bruno, B.;Senatore, L.;Vinci, C. P.
2020-01-01
Abstract
The purpose of this paper is to investigate the role of knowledge spillovers on productivity returns pharmaceutical leading firms. The analysis is based upon a dataset (sourced from the EU R&D investment scoreboards) made of R&D-intensive pharmaceuticals firms. In particular, we quantify the impact of R&D spillovers on the total factor productivity (TFP) between 2002 and 2010 on the basis of technological proximity. Thus, we elaborate more future scenarios to know what will happen, what can happen and how a predefined target may be obtained. Indeed, a numerical analysis for prediction of scenarios was conducted using the Method of Least Squares. The technological relatedness between the firms is computed through an original Mahalanobis industry weight matrix, based on the construction of technological vectors for each firm (Aldieri, 2013; Jaffe, 1986). The results confirmed the leadership of Europe and the USA in the pharmaceutical sector, highlighting the innovative capacity of Pfizer. The results might be interpreted to provide some useful implications for pharmaceutical policy strategy given that mainly in the pharmaceutical industry the private sector innovations derive from public-sector research investments.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
