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The three chapters of Part III focus on Schumpeter's own financial ventures. To begin with, Chapter 8 is dedicated to the history of the Biedermann Joint Stock Bank, whose president Schumpeter was from its foundation in 1921 until... more
The three chapters of Part III focus on Schumpeter's own financial ventures. To begin with, Chapter 8 is dedicated to the history of the Biedermann Joint Stock Bank, whose president Schumpeter was from its foundation in 1921 until 1924. Since credit played an outstanding role in his development theories, the Biedermann project must be considered the most essential part of Schumpeter's practical venture finance projects. While his banking activities have so far mainly been perceived as a speculative episode, here they are examined as a serious attempt to put his theoretical considerations of credit-based entrepreneurial development into practice. Despite his efforts, the project encountered severe economic turbulence in the spring of 1924. Its failure was due to unfavourable economic conditions, contradictory strategic orientations amongst the shareholder groups, and mistakes made by those in charge (including Schumpeter). New insights are revealed based on previously inacces...
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A brief epilogue summarises the main threads of analysis and portrays Schumpeter’s monetary theory of economic development as an old and often unattended variety, which, however, is exceptionally rich in substance. It concludes that... more
A brief epilogue summarises the main threads of analysis and portrays Schumpeter’s monetary theory of economic development as an old and often unattended variety, which, however, is exceptionally rich in substance. It concludes that Schumpeter’s unique and comprehensive vision has endured particularly well, offering no less than an endogenous explanation of innovation, growth and development, business cycles and crises within a monetary economy that deliberately connects finance and real production. Moreover, the longer history unfolds, the more it seems to accord with his vision.
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To address the relationship between innovation and competition we jointly estimate the opportunity, production, and impact functions of innovation in a simultaneous system. Based on Swiss micro-data, we apply a 3-SLS system estimation.... more
To address the relationship between innovation and competition we jointly estimate the opportunity, production, and impact functions of innovation in a simultaneous system. Based on Swiss micro-data, we apply a 3-SLS system estimation. The findings confirm a robust inverted-U relationship, in which a rise in the number of competitors at low levels of initial competition increases the firm's research effort, but at a diminishing rate, and the research effort ultimately decreases at high levels of competition. When we split the sample by firm types, the inverted-U shape is steeper for creative firms than for adaptive ones. The numerical solution indicates three particular configurations of interest: 1. an uncontested mo-nopoly with low innovation, 2. low competition with high innovation, and 3. a "no innovation trap " at very high levels of competition. The distinction between solution 1. and 2. corresponds to Arrow's positive effect of competition on innovation, w...
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Structural analyses of the Austrian economy show that structural change concentrated on within-industry changes and has been driven by improvement in the quality of goods and services produced (upgrading). However, since the financial... more
Structural analyses of the Austrian economy show that structural change concentrated on within-industry changes and has been driven by improvement in the quality of goods and services produced (upgrading). However, since the financial market and economic crisis a deceleration of growth in the Austrian manufacturing sector and in foreign trade can be observed. This raises questions relating to the future of Austria as a location for manufacturing industries. An exploratory enterprise survey provides indicators of past, current and future changes in value creation strategies (in particular product, sourcing and market strategies), changes in the positioning in global value chains and in the core competencies of Austrian companies. Implications for industrial policy are discussed.
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In 2017, economic growth in Austria accelerated to 2.9 percent, reaching the highest rate in six years. The recovery was broad-based: reflecting the international upswing, Austrian exports rose, with domestic demand providing the stable... more
In 2017, economic growth in Austria accelerated to 2.9 percent, reaching the highest rate in six years. The recovery was broad-based: reflecting the international upswing, Austrian exports rose, with domestic demand providing the stable underpinning for growth. In 2017, most of the largest economies performed extraordinarily well. Starting out from the emerging market economies, the upturn spread to the industrialised countries. Manufacturing in Austria profited from the surge, achieving the highest growth in value added since 2011. The construction industry similarly reported notable growth, as did trade, tourism and the services sector in general. Prices went up and the inflation rate was 2.1 percent in terms of the CPI. With the cyclical upswing, the labour market situation eased, employment grew and the unemployment rate fell to 8.5 percent.
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Beruhend auf einer Vielzahl von Indikatoren bietet die Untersuchung eine umfassende und gleichzeitig uberschaubare Bestandsaufnahme mit dem Ziel einer schlussigen Gesamtbewertung zum aktuellen Stand der Digitalisierung in Osterreich. Im... more
Beruhend auf einer Vielzahl von Indikatoren bietet die Untersuchung eine umfassende und gleichzeitig uberschaubare Bestandsaufnahme mit dem Ziel einer schlussigen Gesamtbewertung zum aktuellen Stand der Digitalisierung in Osterreich. Im internationalen Vergleich liegt Osterreich demnach gemessen an den meisten Kennzahlen zur Digitalisierung nur im Mittelfeld und manchmal auch weit zuruck. Dennoch zeigen die Daten keine allgemeine Investitionslucke, sondern vergleichsweise hohe Investitionen in Informations- und Kommunikationstechnologien. Diesen steht aber eine Nachfragelucke gegenuber, die sich vor allem an der relativ geringen privaten Nutzung moderner Breitbanddienste und Anwendungen zeigt. In den Unternehmen entspricht die Adoption neuer digitaler Dienste haufig dem internationalen Durchschnitt. Das Ziel einer aktiven und gestaltenden Rolle Osterreichs im digitalen Wandel erfordert ein breites Spektrum abgestimmter wirtschaftspolitischer Instrumente.
Die osterreichische Wirtschaft wuchs 2018 um 2,7% und damit etwas starker als im Jahr zuvor (+2,6%). Der Wachstumshohepunkt wurde jedoch bereits zu Jahresbeginn 2018 uberschritten. Vor dem Hintergrund welthandelspolitischer Spannungen... more
Die osterreichische Wirtschaft wuchs 2018 um 2,7% und damit etwas starker als im Jahr zuvor (+2,6%). Der Wachstumshohepunkt wurde jedoch bereits zu Jahresbeginn 2018 uberschritten. Vor dem Hintergrund welthandelspolitischer Spannungen (zwischen den USA und China) sowie der Abschwachung der Expansion im Euro-Raum kuhlte sich die Dynamik in Osterreich in der zweiten Jahreshalfte 2018 ab. Neben der Konjunktureintrubung in Italien und Frankreich dampften in Deutschland Produktionsausfalle in der Autoindustrie das Wachstum. Osterreichs Ausenhandel entwickelte sich 2018 insgesamt gunstig, verlor allerdings zum Jahresende an Schwung. Auch die Binnennachfrage trug positiv zum BIP-Wachstum bei. Die Konsumnachfrage der privaten Haushalte war erneut kraftig, zugleich steigerten die Unternehmen ihre Nachfrage nach Investitionsgutern (Ausrustungs- und Bauinvestitionen). Die Bauwirtschaft verzeichnete das zweite Jahr in Folge eine sehr gunstige Konjunktur. Auch in der Sachgutererzeugung wurde die...
Dem arbeitssparenden Element des Einsatzes digitaler Technologien stehen positive Nachfrageeffekte durch eine Senkung der Produktionskosten und die Schaffung einer Vielzahl neuer Produkte gegenuber. Aufgrund der Komplexitat dieser teils... more
Dem arbeitssparenden Element des Einsatzes digitaler Technologien stehen positive Nachfrageeffekte durch eine Senkung der Produktionskosten und die Schaffung einer Vielzahl neuer Produkte gegenuber. Aufgrund der Komplexitat dieser teils gegenlaufigen Effekte sind theoretische Vorhersagen der Nettoeffekte des Einsatzes digitaler Technologien auf die Beschaftigung a priori kaum moglich. Ein strukturierter Survey der internationalen Literatur zeigt bisher uberwiegend positive Wirkungen. Auch fur Osterreich liefern die im Rahmen der Studie durchgefuhrten Analysen vorwiegend positive Befunde: Die Beschaftigung wuchs in hoch digitalisierten Branchen in allen Bundeslandern seit 2010 starker als die Gesamtbeschaftigung. Insgesamt weisen urbane Regionen fur hoch digitalisierte Branchen – bei betrachtlicher Heterogenitat zwischen unterschiedlichen Indikatoren zur Messung des Digitalisierungsgrades – Standortvorteile gegenuber anderen Regionen auf, die sich in der Vergangenheit auch kaum verri...
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Austrian manufacturing faced a situation of weak demand in 2002. According to WIFO estimates, production grew by only 0.5 percent. The WIFO surveys confirm the absence of growth prospects and report no substantial improvement of... more
Austrian manufacturing faced a situation of weak demand in 2002. According to WIFO estimates, production grew by only 0.5 percent. The WIFO surveys confirm the absence of growth prospects and report no substantial improvement of pessimistic expectations during 2002. The weak demand also affected the cash flow to sales ratio of the firms. Econometric estimates suggest that this indicator amounted to 9.8 percent in 2002, a significant reduction as compared to 2001.
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Industry classifications select essential characteristics of technology and markets, condensating the vast heterogeneity of competitive environments into a smaller number of salient types. Although frequently applied in empirical studies... more
Industry classifications select essential characteristics of technology and markets, condensating the vast heterogeneity of competitive environments into a smaller number of salient types. Although frequently applied in empirical studies on industrial economics, technological development, international trade, and competitiveness, we still find little or no methodological discussion and a striking lack of awareness for the different approaches pursued. This interpretative survey
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The paper examines the empirical evidence on economic impacts of venture capital. At the macro-level, the consistently positive and significant statistical associations with the share of knowledge intensive industries, higher education,... more
The paper examines the empirical evidence on economic impacts of venture capital. At the macro-level, the consistently positive and significant statistical associations with the share of knowledge intensive industries, higher education, participation in lifelong learning, R&D expenditures or patent applications reveal it to be an integral part of modern systems of innovation. A critical review of studies estimating the precise impact of venture capital, among others, on corporate growth, patent output, survival or technical efficiency illuminates a varied spectrum of particular transmission channels. However, the review also points at an imbalance in the analytical focus of most studies, targeting the presumed value added function of venture capital, while largely ignoring its specific financing and selection function.
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Im Zuge der Finanzmarktkrise verschlechterte sich die Lage der offentlichen Haushalte. Konsolidierungsmasnahmen und die schleppende Konjunkturerholung werden die Budgetentwicklung bis 2014 pragen. Vor diesem Hintergrund werden die... more
Im Zuge der Finanzmarktkrise verschlechterte sich die Lage der offentlichen Haushalte. Konsolidierungsmasnahmen und die schleppende Konjunkturerholung werden die Budgetentwicklung bis 2014 pragen. Vor diesem Hintergrund werden die Ergebnisse und Empfehlungen der Evaluierung des osterreichischen Innovationssystems durch das WIFO mit Blick auf die FTI-Strategie 2020 diskutiert. Grundsatzlich ist eine Ausweitung der offentlichen Ausgaben fur Innovationen und Bildung trotz Budgetkonsolidierung moglich. Die Studie zeigt Moglichkeiten auf, wie eine Spitzenreiterstrategie trotz knapper offentlicher Mittel umgesetzt werden kann. Schwerpunkte sind eine Steigerung der Hebelwirkung der offentlichen Mittel und Instrumente sowie die Aktivierung privater Finanzierungspotentiale. Die Masnahmen sollten jedenfalls Effizienz und Effektivitat des Gesamtsystems beachten und den Flaschenhals "Bildungssystem" berucksichtigen.
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This paper reviews the major finance-related causes of private under-investment in innovation and the consequent alternative choices for public policy. The focus is on (i) incentive-based arguments that address the problem of limited... more
This paper reviews the major finance-related causes of private under-investment in innovation and the consequent alternative choices for public policy. The focus is on (i) incentive-based arguments that address the problem of limited appropriability of new knowledge, and (ii) the lacking ...
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In this study, the authors use a parametric duration analysis to determine the survival rate of firms in the Austrian accommodation sector. Factors that contribute positively to the survival rate of entrants in the accommodation sector... more
In this study, the authors use a parametric duration analysis to determine the survival rate of firms in the Austrian accommodation sector. Factors that contribute positively to the survival rate of entrants in the accommodation sector include larger initial size, a large share of young firms and fast market growth. High sunk costs and the location of businesses in major tourist destinations with a distinctive winter and summer season and a relative high average bed utilization rate further improve the odds of survival. The authors find an inverted U-shape hazard function supporting the liability of newness hypothesis. The hazard rate is lower than in the production of other market services but higher than in manufacturing.
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3. Structural change, industrial specialisation and competitiveness: a brief survey........ 5 3.1. Industrial structure as an indicator of firm capabilities................................................ 5 3.2. Industrial structure as an... more
3. Structural change, industrial specialisation and competitiveness: a brief survey........ 5 3.1. Industrial structure as an indicator of firm capabilities................................................ 5 3.2. Industrial structure as an indicator for differential overall growth prospects.............. 6 3.3. Structural change within sectors as an indicator of competitive developments........... 7
This paper aims at establishing the existence of systematic differences in the nature of competitive strategies available to individual firms across industries. By means of qualitative content analysis, we extracted a matrix of 76... more
This paper aims at establishing the existence of systematic differences in the nature of competitive strategies available to individual firms across industries. By means of qualitative content analysis, we extracted a matrix of 76 industries times 12 strategies reported as being characteristic in a series of monographs. Subsequent tests for the statistical significance of observed differences in the typical strategy portfolio show an evident link to an industry’s general reliance on intangible investments, human resources, and inputs from external services.
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The rise of the service economy has been the predominant pattern of structural change in the twentieth century. The paper investigates the driving forces behind the recent stages of this development. Focusing on international input-output... more
The rise of the service economy has been the predominant pattern of structural change in the twentieth century. The paper investigates the driving forces behind the recent stages of this development. Focusing on international input-output data from the early 1970s to the 1990s, a decomposition analysis separates the quantitative impact of demand, technology, and tradedriven determinants of output growth. Our findings confirm the rise of knowledge-based services as the most dynamic component, thus strengthening the case for ‘‘quaternarisation’’ as a process which is distinctly characterised by the substantial contribution of technological and organizational change to structural development. Key Words: tertiarisation, quaternarisation, knowledge-based services, structural change, input-output analysis
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Using a large sample of enterprises from a survey that was simultaneously conducted in Germany, Austria and Switzerland, we study the self-reported impacts of the adoption of “green” energy saving and related technologies (GETs). Our... more
Using a large sample of enterprises from a survey that was simultaneously conducted in Germany, Austria and Switzerland, we study the self-reported impacts of the adoption of “green” energy saving and related technologies (GETs). Our specific interest is in how different policy instruments associate with energy efficiency, the reduction of $$\hbox {CO}_{2}$$ CO 2 emissions, and competitiveness at the firm level. A first set of equations tracks how policy relates to the adoption of green energy technologies in distinct areas such as production, transport, buildings, ICT or renewables. In a second set of equations, we test the perceived impacts of adoption by the managers of the firms. The results confirm a differentiated pattern of varied transmission mechanisms through which policy can affect energy efficiency and $$\hbox {CO}_{2}$$ CO 2 emissions, while on average having a neutral impact on the firms’ competitiveness. Further, discarding the conventional dichotomy between incentive...
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We use parametric duration analysis to study the survival of Austrian firms. We find that hazard rates in both manufacturing and services initially increase, reach a peak after the first year of operation and then decrease with age. The... more
We use parametric duration analysis to study the survival of Austrian firms. We find that hazard rates in both manufacturing and services initially increase, reach a peak after the first year of operation and then decrease with age. The maximum hazard rate is higher in services. We also find differences in hazard rates among different types of manufacturing industries distinguished by the nature of their sunk costs, their reliance on human resources and inputs from external services. Finally, we find that larger initial size and higher market growth, and at the same time lower net entry and declining market concentration prolong the life of an entrant.
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Schumpeterian development is characterized by the simultaneous interplay of growth and qualitative transformations of the economic system. At the sectoral level, such qualitative transformations become manifest as variations in the... more
Schumpeterian development is characterized by the simultaneous interplay of growth and qualitative transformations of the economic system. At the sectoral level, such qualitative transformations become manifest as variations in the sectoral composition of production. Following the implementation of Harberger’s method of visualizing the impact of differential productivity growth, dynamic panel estimations are applied to a standard growth model modified to
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In addition to his banking activities, Schumpeter actively pursued the ‘promoter’s profit’ during his brief and unfortunate history as a proto-venture capitalist. The activities that have so far received little attention from the research... more
In addition to his banking activities, Schumpeter actively pursued the ‘promoter’s profit’ during his brief and unfortunate history as a proto-venture capitalist. The activities that have so far received little attention from the research community are described in Chapter 9. Schumpeter invested on a grand scale in the foundation of new industrial firms. Given the poor condition of the industrial sites after years of a war economy, the economic rationale appeared sound, but the financial scheme, timing, and practical execution were not. In addition to spending his own wealth, he borrowed heavily from his privileged bank account and raised considerable funds from third parties. Having established large leverage, he was unable to refinance short-term loans when Austria was hit with a major banking crisis in 1924. As the factories failed before they could produce any significant cash flow, Schumpeter learned the perils of high leverage the hard way.
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This research is aimed at the interlinkages between the micro-and the meso-level of innovation. It focuses first on heterogeneous innovation behaviour among individual firms, and then derives new taxonomies from the distribution of... more
This research is aimed at the interlinkages between the micro-and the meso-level of innovation. It focuses first on heterogeneous innovation behaviour among individual firms, and then derives new taxonomies from the distribution of distinct firm types within sectors. The outcome is a set of integrated classifications both at the firm and sectoral levels, which focuses on (i) the kind of entrepreneurship; (ii) technological opportunity; (iii) appropriability conditions; (iv) the cumulativeness of knowledge, and (v) a sector’s general ‘innovation intensity’. Final validations of the clusters confirm, e.g, a significant positive but non-linear impact of a sector’s innovation intensity on labour productivity growth.
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Die Selbstfinanzierungskraft der osterreichischen Industrie stabilisierte sich 1996 auf hohem Niveau. Der Cash-flow durfte auf Jahresbasis um etwa 5% hoher gewesen sein als im Vorjahr, die Cash-flow-Umsatz-Relation betrug etwa 9½%. Die... more
Die Selbstfinanzierungskraft der osterreichischen Industrie stabilisierte sich 1996 auf hohem Niveau. Der Cash-flow durfte auf Jahresbasis um etwa 5% hoher gewesen sein als im Vorjahr, die Cash-flow-Umsatz-Relation betrug etwa 9½%. Die Unternehmen des Basissektors konnten 1995 ihre Ertragslage gegenuber dem Vorjahr nicht verbessern, die Cash-flow-Umsatz-Relation fiel auf 9,0% (1995 10,4%). Auch in der technischen Verarbeitung sank die Cash-flow-Umsatz-Relation – trotz der leichten Belebung der Konjunktur im 2. Halbjahr 1996 und der gunstigeren Wechselkursrelationen – auf 7,5% (1995 8,3%). Hohere Ertrage als im Vorjahr verzeichneten hingegen die Bauzulieferer (16,0%, 1995 14,0%) und die Hersteller traditioneller Konsumguter (10,5%, 1995 9,7%). In der chemischen Industrie blieb die Cash-flow-Umsatz Relation unverandert (10,5%).
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Im Zuge der Finanzmarktkrise verschlechterte sich die Lage der offentlichen Haushalte. Konsolidierungsmasnahmen und die schleppende Konjunkturerholung werden die Budgetentwicklung bis 2014 pragen. Grundsatzlich ist eine Ausweitung der... more
Im Zuge der Finanzmarktkrise verschlechterte sich die Lage der offentlichen Haushalte. Konsolidierungsmasnahmen und die schleppende Konjunkturerholung werden die Budgetentwicklung bis 2014 pragen. Grundsatzlich ist eine Ausweitung der offentlichen Ausgaben fur Innovationen und Bildung trotz Budgetkonsolidierung moglich. Eine Spitzenreiterstrategie kann trotz knapper offentlicher Mittel umgesetzt werden, und zwar hauptsachlich durch Konzentration der Mittel und Instrumente auf eine Verstarkung der Hebelwirkung, um private Finanzierungspotentiale optimal auszuschopfen. Masnahmen zur Umsetzung dieser Spitzenreiterstrategie bis 2020 und zur Schaffung der Voraussetzungen fur ein nachhaltiges innovationsbasiertes Wachstum mussen uber das Fordersystem im engen Sinn hinausgehen. Zentral sind diesbezuglich die Behebung der Engpasse im Bildungssystem und eine Verbesserung der Rahmenbedingungen fur innovative Unternehmen. Eine intensivierte Grundungsdynamik, ein dynamischeres Wachstum innovati...
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The three chapters of Part II focus on Schumpeter's monetary theory of development. To begin with, the current chapter addresses his intellectual upbringing in the midst of the marginalist revolution and how he drew the lines to his... more
The three chapters of Part II focus on Schumpeter's monetary theory of development. To begin with, the current chapter addresses his intellectual upbringing in the midst of the marginalist revolution and how he drew the lines to his intellectual kinship of the Austrian School. Studying in Vienna with two of the main proponents of the marginalist revolution, his own method and concepts were thoroughly rooted in its fundamental premises. First, the attention turns to its founders (Jevons, Walras and Menger), then to the influence of Schumpeter's teachers Böhm-Bawerk and Wieser. This is followed by a discussion of the monetary theory of Knut Wicksell, who systematically applied the marginalist principles to monetary matters. Finally, we ask how Schumpeter related to the monetary theories of Ludwig Mises and Friedrich Hayek.
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Our econometric estimates indicate that in 2005 Austrian manufacturing has achieved a cash-flow to sales ratio of about 9.7 percent, which is slightly higher than 2004. In the second half of 2005 demand growth accelerated, however the... more
Our econometric estimates indicate that in 2005 Austrian manufacturing has achieved a cash-flow to sales ratio of about 9.7 percent, which is slightly higher than 2004. In the second half of 2005 demand growth accelerated, however the high price of oil seems to have impeded a more substantial improvement in prof-itability. International comparative data are available until the year 2004. During the period from 1995 to 2004 Austrian firms exhibit an average performance in terms of the cash-flow to sales ratio. Furthermore, Austrian manufacturing firms are catching-up towards the European average in terms of their average equity ratio.
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This research is aimed at the interlinkages between the micro-and the meso-level of innovation. It focuses first on heterogeneous innovation behaviour among individual firms, and then derives new taxonomies from the distribution of... more
This research is aimed at the interlinkages between the micro-and the meso-level of innovation. It focuses first on heterogeneous innovation behaviour among individual firms, and then derives new taxonomies from the distribution of distinct firm types within sectors. The outcome is a set of integrated classifications both at the firm and sectoral levels, which focuses on (i) the kind of entrepreneurship; (ii) technological opportunity; (iii) appropriability conditions; (iv) the cumulativeness of knowledge, and (v) a sector’s general ‘innovation intensity’. Final validations of the clusters confirm, e.g, a significant positive but non-linear impact of a sector’s innovation intensity on labour productivity growth.
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Um eine Landkarte der (De-)Karbonisierung der osterreichischen Wirtschaft zu erstellen, werden zum einen die wichtigsten gewerblichen Emittenten (die vom EU-Emissionshandelssystem EU-EHS erfasst sind) verortet, zum anderen ein... more
Um eine Landkarte der (De-)Karbonisierung der osterreichischen Wirtschaft zu erstellen, werden zum einen die wichtigsten gewerblichen Emittenten (die vom EU-Emissionshandelssystem EU-EHS erfasst sind) verortet, zum anderen ein kleinraumiges Input-Output- Modell (159 Wirtschaftsbereiche nach 94 Bezirken) mit Schwerpunkt "Emissionen" zusammengestellt. Mit dieser Datenbasis wird eine prototypische Anwendung dargestellt: Die Bestrebungen zur Senkung der Treibhausgasemissionen werden die Nachfrage nach Kfz wahrscheinlich verringern, sicher aber von konventionellen Antrieben zu alternativen, emissionsarmeren (oder emissionsfreien) Antriebssystemen verlagern. Osterreich weist eine bedeutende Zulieferindustrie zur Herstellung konventioneller Kfz auf. Die Anwendung demonstriert die regionale (und sektorale) Betroffenheit einer solchen Umstellung, aber auch die Chancen, die sich dadurch ergeben. Die Anwendung zeigt aber auch einen regionalen Mismatch zwischen Chancen und Risiken: Di...
Dem arbeitssparenden Element des Einsatzes digitaler Technologien stehen positive Nachfrageeffekte durch eine Senkung der Produktionskosten und die Schaffung einer Vielzahl neuer Produkte gegenuber. Ein strukturierter Survey der... more
Dem arbeitssparenden Element des Einsatzes digitaler Technologien stehen positive Nachfrageeffekte durch eine Senkung der Produktionskosten und die Schaffung einer Vielzahl neuer Produkte gegenuber. Ein strukturierter Survey der internationalen Literatur zeigt bisher uberwiegend positive Nettoeffekte des Einsatzes digitaler Technologien auf die Beschaftigung. Eine aktuelle WIFO-Studie widmet sich ausfuhrlich den bisherigen Beschaftigungseffekten der Digitalisierung in Osterreich auf einer raumlich differenzierten Ebene: Demnach wuchs die Beschaftigung seit 2010 in hochdigitalisierten Branchen in allen Bundeslandern starker als in den anderen Branchen. Dabei weisen urbane Regionen fur hochdigitalisierte Branchen Standortvorteile gegenuber anderen Regionen auf, die sich in der Vergangenheit auch kaum verringert haben. Die Nettoeffekte eines hoheren Digitalisierungsgrades der lokalen Wirtschaft auf die Gesamtbeschaftigung vor Ort sind ebenfalls mehrheitlich positiv, unterscheiden sich ...
Many innovation projects are abandoned before the idea is developed into a marketable product. This failure is sometimes called the "valley of death" and is most pronounced for technology-based entrepreneurial ventures, since... more
Many innovation projects are abandoned before the idea is developed into a marketable product. This failure is sometimes called the "valley of death" and is most pronounced for technology-based entrepreneurial ventures, since the disadvantage of being small and new weighs all the more in the case of financing innovation. Due to the complex nature of most innovation projects, screening and monitoring is very costly and requires expensive expert knowledge, while entrepreneurs may be particularly reluctant to disclose information out of concern of imitation.
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Nationale Clusterstrukturen im Sinne von verwandten, sich gegenseitig unterstutzenden und international erfolgreichen Branchen sind in Osterreich vergleichsweise wenig ausgepragt. Ausnahmen sind z. B. der Wirtschaftskomplex Holz–Papier... more
Nationale Clusterstrukturen im Sinne von verwandten, sich gegenseitig unterstutzenden und international erfolgreichen Branchen sind in Osterreich vergleichsweise wenig ausgepragt. Ausnahmen sind z. B. der Wirtschaftskomplex Holz–Papier sowie die Erzeugung von Eisenbahnschienen und von Spezialfahrzeugen fur den Schienenverkehr. Zwei Grunde sind dafur ausschlaggebend: Zum einen sind manche leistungsstarke Wirtschaftscluster der Vergangenheit heute von langfristigen Strukturproblemen beeintrachtigt (Textil, Stahl). Zum anderen sind viele erfolgreiche Branchen Teile von transnationalen Industriezweigen, deren Kernzonen und zentrale Verfugungsgewalt nicht in Osterreich liegen (Autozulieferer, Unterhaltungselektronik).
Statistical cluster techniques are applied in the development of two new taxonomies of manufacturing industries. The first focuses on the distinction between exogenous, location dependent comparative cost advantages, such as the relative... more
Statistical cluster techniques are applied in the development of two new taxonomies of manufacturing industries. The first focuses on the distinction between exogenous, location dependent comparative cost advantages, such as the relative abundance of capital or labour, and endogenously created firm specific advantages resulting from intangible investments in marketing or innovation. The second taxonomy discriminates between industries according to their employment of skilled labour. Finally, econometric tests are used to investigate the presumed complementarity between intangible investments and human resources.
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Die OECD initiierte 2015 das Projekt "Multiprod", das erstmals die Produktivitatsentwicklung von Unternehmen auf Basis von Unternehmensmikrodaten international vergleichend analysieren sollte. Das WIFO untersuchte aufgrund von... more
Die OECD initiierte 2015 das Projekt "Multiprod", das erstmals die Produktivitatsentwicklung von Unternehmen auf Basis von Unternehmensmikrodaten international vergleichend analysieren sollte. Das WIFO untersuchte aufgrund von Mikrodaten von Statistik Austria die Produktivitatsentwicklung in Osterreich und verglich sie mit den am Multiprod-Projekt teilnehmenden Landern (darunter die Innovation Leader Finnland, Schweden, Danemark). Leider beeinflussen Strukturunterschiede zwischen den Unternehmensdaten von Statistik Austria (Leistungs- und Strukturerhebung) und anderen Landern, wie z. B. das Fehlen von Kapitalstockdaten die Ergebnisse erheblich. Ein aussagekraftiger internationaler Vergleich der Daten war deshalb nicht moglich.