2018/15 | LEM Working Paper Series | ||||||||||||||||
Beyond R&D: The role of embodied technological change in affecting employment |
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Gabriele Pellegrino, Mariacristina Piva and Marco Vivarelli |
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Keywords | |||||||||||||||||
Innovation; R&D; Embodied Technological Change; Employment; GMM-SYS
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JEL Classifications | |||||||||||||||||
O33
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Abstract | |||||||||||||||||
In this work, we test the employment impact of distinct types of
innovative investments using a representative sample of Spanish
manufacturing firms over the period 2002-2013. Our GMM-SYS estimates
generate various results, which are partially in contrast with the
extant literature. Indeed, estimations carried out on the entire
sample do not provide statistically significant evidence of the
expected labor-friendly nature of innovation. More in detail, neither
R&D nor investment in innovative machineries and equipment (the
so-called embodied technological change, ETC) turn out to have any
significant employment effect. However, the job-creation impact of R&D
expenditures becomes highly significant when the focus is limited to
the high-tech firms. On the other hand - and interestingly - ETC
exhibits its labor-saving nature when SMEs are singled out.
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