Innovation in the Services Sector: An Analysis of CARICOM

Author(s): Antonio Alleyne, Troy Lorde and Quinn Weekes

Created 19 Feb, 2016
Categories Working Papers
Views: 2459
Print
Share

The need for increased market access, and greater trade revenues, compels small developing nations to intensify their efforts to boost competitiveness on a global scale. Using survey data and a modified Heckman’s two-step approach, an evaluation of factors regarding innovation in the CARICOM services sector and the impacts on policy is conducted. Results of the analysis suggest firm size, foreign ownership involvement, patent rights, availability of public funds for innovative activity and external trade are significant in explaining the general firm’s decision to innovate. However, for services firms, the decision to innovate depends mainly on patent protection and to a lesser extent foreign ownership involvement in the firm.



Innovation in the Services Sector by Antonio Alleyne_ Troy Lorde_ and Quinn Weekes.pdf (1.9 MB)
Copyright 2020 by Central Bank of Barbados