Autori:
Antonelli, Cristiano,
Scellato, GiuseppeTitolo:
Complexity and innovation: social interactions and firm level total factor productivityPeriodico:
Università degli Studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis LEI & BRICK - Lab. Di economia dell'innovazione 'Franco Momigliano', Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP seriesAnno:
2007 - Volume:
7 - Fascicolo:
9 - Pagina iniziale:
1 - Pagina finale:
26The analysis of social interactions as drivers of economic dynamics represents a
growing field of the economics of complexity. Social interactions are a specific form of
interdependence whereby the changes in the behavior of other agents affect the structure
of the utility functions for households and of the production functions for producers. In
this paper, we apply the general concept of social interactions to the area of the
economics of innovation and technological change. In particular, we discuss how both
the knowledge spillovers literature and the Schumpeterian notion of creative reaction
can be reconciled within a general framework building on the concept of social interactions within complex dynamics. The paper presents an empirical analysis of firm
level total factor productivity (TFP) for a sample of 7020 Italian manufacturing
companies observed during years 1996-2005. We show that changes in firm level TFP
are significantly affected by localised social interactions. Such evidence is robust to the
introduction of appropriate regional and sectoral controls, as well as to econometric
specifications accounting for potential endogeneity problems. Moreover, we find
evidence suggesting that changes in competitive pressure, namely the creative reaction channel, significantly affect firm level TFP with and additive effect with respect to localised social interactions deriving from knowledge spillovers.
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