GROWINPRO – Growth, Welfare, Innovation, Productivity
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GROWINPRO kodulehekülg.
GROWINPRO aims to provide a detailed analysis of the causes of the anaemic growth performance observed in Europe during the last decades and, in particular, after the Great Recession. On the grounds of such analysis, GROWINPRO will deliver a set of policy solutions aimed at restoring sustained and inclusive economic growth with particular attention both on the demand and on the supply-side.GROWINPRO brings together researchers from eleven international academic institutions and three national statistical offices. The joint interaction between academic institutions and national statistical offices provides GROWINPRO with a focus on new data sources, methods and statistical indicators to address the challenges posed by the call. The project has two main ambitions. From a diagnostic perspective, it proposes to link three levels of analysis – macro, meso and micro – empirically dissecting the sources of productivity slowdown and the relations between productivity, demand and growth. From a normative perspective, it aims at providing a novel, integrated set of policies to push Europe towards a balanced, innovation-fuelled and inclusive trajectory of development, also addressing major societal challenges, such as climate change, ageing population, and robotization.
Recent Submissions
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Predicting company innovativeness by analysing the website data of firms: a comparison across different types of innovation
(2022)This paper investigates which of the core types of innovation can be best predicted based on the website data of firms. In particular, we focus on four distinct key standard types of innovation – product, process, ... -
The relationship of technological and organizational innovation with firm performance: opening the black box of dynamic complementarities
(2022)This paper explores the dynamic nature of complementarities between technological and organizational innovation at firms. Using Spanish firm level panel data (PITEC) over period 2008-2016, it investigates how the formation, ... -
Productivity and firm dynamics over the business cycle
(2022)The paper studies the effects of technology shocks on the creation and destruction of firms. Using US data and a VAR model the paper finds Schumpeterian creative destruction for investment-specific technology shocks. A ... -
The effects of the ECB communications on financial markets before and during COVID-19 pandemic
(2022)The paper aims to estimate the effects of the European Central Bank communications on the sectoral returns of STOXX Europe 600 from 2013 to 2021. Previous literature has investigated the effects of communications of central ... -
Predicting stock returns: ARMAX vs. machine learning
(2022)In the modern world, online social and news media significantly impact society, economy, and financial markets. In this chapter, we compared the predictive performance of financial econometrics and machine learning and ... -
Role of institutions in the corruption and firm innovation nexus: evidence from former Soviet Union countries
(2022)In view of the missing consensus on how corruption relates to firm innovation, this paper empirically studies the relationship between petty corruption and product, process, marketing and organizational innovations in the ... -
The impact of ESG ratings on the systemic risk of European blue-chip firms
(2022)There are diverging results in the literature on whether engaging in ESG related activities increases or decreases the financial and systemic risks of firms. In this paper we explore whether maintaining higher ESG ratings ... -
New member in the boardroom and subsequent strategic change in the product-market scope of the firm
(2020)Purpose – The purpose of this paper is to explore the linkages between the appointment of a new management board member and the following strategic change in the product-market scope of the firm. Design/methodology/approach ... -
Churning and labor productivity in economic crisis, differences between foreign and domestic firms
(2021)Our analysis of matched employee-employer data from Estonian firms (years 2006–2013) shows that an increase in labor churning is related to a positive change in labor productivity during an economic crisis. During boom ... -
Predicting stock return and volatility with machine learning and econometric models: A comparative case study of the Baltic stock market
(2021)For stock market predictions, the essence of the problem is usually predicting the magnitude and direction of the stock price movement as accurately as possible. There are different approaches (e.g., econometrics and machine ... -
Does corruption hinder firm energy efficiency? Evidence from Vietnam
(2022)Energy efficiency is an important issue for developing countries like Vietnam, where the economy is thriving, but energy efficiency is still low. Firms should invest in energy efficiency measures, but the desired level is ... -
Academic assets, life-cycle, and entrepreneurship: a longitudinal study of Estonian academic workers
(2021)This study aimed to find out how academic assets are interconnected with firm creation by academic staff at different academic life-cycle stages. The applied theoretical setting integrated resource-based and life-cycle ... -
How does managerial experience predict the internationalization type of a young firm?
(2021)This study aims to find out how useful managers' past general and export experience is in predicting whether young manufacturing firms become fast internationalizers. Extant literature about the role of managerial experience ... -
Deep diving into the S&P Europe 350 index network and its re-action to COVID-19
(2021)In this paper, we analyse the dynamic partial correlation network of the constituent stocks of S&P Europe 350. We focus on global parameters such as radius, which is rarely used in financial networks literature, and also ... -
Do firms really learn from failure? The dynamics of abandoned innovation
(2020)Abandoned and failed innovations can be regarded as a part of the natural process of experimentation by firms, which can lead to important lessons being learned. Although the literature suggests some benefit from failure ... -
The role of firms in the gender wage gap
(2020)Recent research suggests that firm-level factors play a significant role in the gender wage gap. This paper adds to this literature by analysing the role of sorting between firms and bargaining within firms using the ... -
Productivity gains from labour churning in economic crisis: do foreign firms gain more?
(2020)The purpose of this paper is to clarify whether domestic or foreign firms gained more from labour churning while adjusting to the Great Recession in Estonia. During times of high unemployment, all firms can raise their ... -
Corruption and firm innovation: evidence from post-Soviet countries
(2021)In view of the missing consensus on how corruption relates to firm innovation, this paper empirically studies the relationship between petty corruption and product, process, marketing and organizational innovations in ... -
Productivity implications of R&D, innovation, and capital accumulation for incumbents and entrants: the case of Estonia
(2021)In this paper, using Estonian Community Innovation Survey data, we study the role of R&D, capital accumulation, and innovation output on pro- ductivity for entrants and incumbents. We find that the impact of R&D invest- ment ... -
Effects of automation on the gender pay gap: the case of Estonia
(2021)This paper investigates how investments in automation-intensive goods affects the gender pay gap. The evidence on the effects of automation on the labour market is growing; however, little is known about the implications ...
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