Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012
Based on data from ENDEI (2010-2012) this paper analyzes credit constraints that Argentine companies face to implement innovative activities. The evidence shows that constraints are tighter for SMB compared to big companies. Using OLS we also estimate differentials in investments on innovation betwe...
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| Format: | Online |
| Language: | spa |
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Universidad Pedagógica y Tecnológica de Colombia
2019
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| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/7903 |
| _version_ | 1801705960525266944 |
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| author | Peñaloza Pacheco, Leonardo José |
| author_facet | Peñaloza Pacheco, Leonardo José |
| author_sort | Peñaloza Pacheco, Leonardo José |
| collection | OJS |
| description | Based on data from ENDEI (2010-2012) this paper analyzes credit constraints that Argentine companies face to implement innovative activities. The evidence shows that constraints are tighter for SMB compared to big companies. Using OLS we also estimate differentials in investments on innovation between firms that have access to credits to finance their innovation compared to those that are constrained. We find that, after controlling for different characteristics, firms that are not constrained invest 30,74% more in innovation, on average, than constrained firms. This difference is decrescent with the size of the companies. Finally, using a linear probability model we evaluate the relation between credit access and the likelihood of global integration of Argentine companies. Our findings indicate that having access to credit for investing on innovative activities is related with a higher probability of exporting, which is consistent with theoretical developments that point to the existence of a complementarity between innovative investments and the export ability. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-7903 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2019 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-79032022-06-17T21:35:05Z Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 Acceso al crédito, innovación tecnológica e inserción externa de las empresas argentinas 2010 -2012 Peñaloza Pacheco, Leonardo José Credits R&D Technical Change exports investment Argentina Crédito Cambio Tecnológico Exportaciones Inversión Argentina I D Based on data from ENDEI (2010-2012) this paper analyzes credit constraints that Argentine companies face to implement innovative activities. The evidence shows that constraints are tighter for SMB compared to big companies. Using OLS we also estimate differentials in investments on innovation between firms that have access to credits to finance their innovation compared to those that are constrained. We find that, after controlling for different characteristics, firms that are not constrained invest 30,74% more in innovation, on average, than constrained firms. This difference is decrescent with the size of the companies. Finally, using a linear probability model we evaluate the relation between credit access and the likelihood of global integration of Argentine companies. Our findings indicate that having access to credit for investing on innovative activities is related with a higher probability of exporting, which is consistent with theoretical developments that point to the existence of a complementarity between innovative investments and the export ability. Con base en datos de la ENDEI (2010-2012), en este trabajo se analizan las restricciones al crédito que enfrentan las empresas argentinas del sector manufacturero para poder realizar actividades de innovación. Se estiman, empleando MCO, los diferenciales de inversión en innovación entre aquellas firmas que acceden a los créditos bancarios para financiar estas inversiones en comparación con aquellas que no lo hacen, y, luego de controlar por diferentes heterogeneidades de las empresas, se encuentra que aquellas firmas que acceden a los créditos invierten en promedio un 30,74 % más en innovación, siendo este diferencial más acentuado para las empresas de menor tamaño. A su vez, mediante un modelo lineal de probabilidad, se evalúa la relación entre el acceso al crédito y la capacidad de exportación de las empresas. Se obtiene evidencia que indicaría que acceder al crédito para innovar se vincula con una mayor probabilidad de exportar los productos, dado que, según la literatura, existiría una complementariedad entre las inversiones en innovación y la capacidad de exportar de las firmas. Universidad Pedagógica y Tecnológica de Colombia 2019-02-07 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer reviewed Article application/pdf text/xml https://revistas.uptc.edu.co/index.php/cenes/article/view/7903 10.19053/01203053.v38.n67.2019.7903 Apuntes del Cenes; Vol. 38 No. 67 (2019); 157-190 Apuntes del Cenes; Vol. 38 Núm. 67 (2019); 157-190 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/7903/7615 https://revistas.uptc.edu.co/index.php/cenes/article/view/7903/11184 Copyright (c) 2019 Leonardo José Peñaloza Pacheco http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | Credits R&D Technical Change exports investment Argentina Crédito Cambio Tecnológico Exportaciones Inversión Argentina I D Peñaloza Pacheco, Leonardo José Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 |
| title | Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 |
| title_alt | Acceso al crédito, innovación tecnológica e inserción externa de las empresas argentinas 2010 -2012 |
| title_full | Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 |
| title_fullStr | Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 |
| title_full_unstemmed | Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 |
| title_short | Access to Credit, Technological Innovation and Global Integration of Argentine Companies 2010-2012 |
| title_sort | access to credit technological innovation and global integration of argentine companies 2010 2012 |
| topic | Credits R&D Technical Change exports investment Argentina Crédito Cambio Tecnológico Exportaciones Inversión Argentina I D |
| topic_facet | Credits R&D Technical Change exports investment Argentina Crédito Cambio Tecnológico Exportaciones Inversión Argentina I D |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/7903 |
| work_keys_str_mv | AT penalozapachecoleonardojose accesstocredittechnologicalinnovationandglobalintegrationofargentinecompanies20102012 AT penalozapachecoleonardojose accesoalcreditoinnovaciontecnologicaeinsercionexternadelasempresasargentinas20102012 |
