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| 1 |
ID:
128835
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| Publication |
2014.
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| Summary/Abstract |
The propensity of cutting some government spending during the crisis time generates the incentive for some policy-makers and governments to modify certain expenses irrespective to output variations. The goal of this paper is to analyse the cyclical properties of defence expenditure in Spain (1978-2009) and to characterize the consequences of economic and political cycles on this public spending.
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| 2 |
ID:
128837
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| Publication |
2014.
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| Summary/Abstract |
This paper analyses the main drivers of R&D investment in the Spanish defence sector at the firm level. In particular, we analyse the factors influencing the decision to innovate or not, and those that affect the relative amount of resources devoted to the innovative process. Using data from the Ministry of Defence and the balance sheets from over 650 companies from 2003 to 2008, a Heckman selection model is applied to account for the firm's decision to perform R&D investment (or not). Our estimation results show that for firms holding operations within the Spanish defence industry, both the long-term strategic decision on R&D engagement and the short-term decision of R&D investment were driven by the intensity of their participation in contracting with the Ministry of Defence; hence, the demand pull hypothesis is confirmed.
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| 3 |
ID:
128838
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| Publication |
2014.
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| Summary/Abstract |
This paper presents empirical results on the export performance of Spanish defense contractors. The objective is threefold. First, we briefly describe the export profile of the Spanish defense industry at the firm level. Second, in light of some results on the determinants of firm-level export intensity, we empirically test some of these variables for the case of defense-related exports. We find that exporters tend to be capital intensive, diversified, and showing high R&D effort. In the analysis by sectors, learning by exporting is the most frequent result. Third, we assess the exporter productivity premium, regressing productivity on exporter status and firm size. Our results indicate that when controlling for firm heterogeneity, no such premium exists.
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| 4 |
ID:
128836
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| Publication |
2014.
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| Summary/Abstract |
This paper uses an output-oriented stochastic distance function to compute defense contractors' technical efficiency as a measure of performance. Then, nesting a market structure and conduct equation into the frontier, we identify firm and industry factors that affect the observed inefficiency levels. The empirical results confirm that there exist multi-directional causal correlations among market structure, conduct, and performance of defense contractors. In addition, the paper shows that there exists a great variability among the different sectors that compose the defense industrial base. Therefore, policies oriented to influence the industry must take into account the multi-directional causal relation among its components.
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| 5 |
ID:
128839
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| Publication |
2014.
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| Summary/Abstract |
This article describes the state of the Security and Defense Industrial Sector in Spain, its main characteristics and challenges at the turn of an industrial-military cycle. First, it briefly analyzes the potentialities of the sector and its contribution to the national economy. Second, a detailed analysis of the general tendencies of the markets and the new models of collaboration or innovation among stakeholders, as well as the best practices of third actors in adjusting their industrial bases to the changing trends, is carried out. Based on the findings from the previous sections, recommended action lines for government intervention and industry strategies to accomplish a broad restructuring are delineated.
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