Covid-19, Innovative Firms and Resilience

Download or read book Covid-19, Innovative Firms and Resilience written by World Intellectual Property Organization and published by WIPO. This book was released on 2023-02-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: ummary This paper explores the empirical association between patents and various indicators of firm resilience during the COVID-19 pandemic with worldwide firm-level data from manufacturing industries. The study shows that patent-intensive firms have a reduced probability of exit, in particular if they are larger and if engaging with complementary investments in R&D; and other intangibles. Additional estimates show that firm productivity has been an important transmission channel. Taken together, the results presented in the paper offer evidence-based findings pointing to patents as an important potential factor contributing to firm resilience during the COVID-19 pandemic. Policy insights are discussed.