Experience, Innovation and Productivity - Empirical Evidence from Italy's Slowdown

Table 4. OLS Estimates of labor productivity growth rates (in percentage points).

Dependent variable K ∆ ₂ln — ² L Lit	Any innovation		_______Product_______		_______Process_______
Dependent variable K ∆ ₂ln — ² L Lit	Coefficient	Robust Std. Err.	Coefficient	Robust Std. Err.	Coefficient	Robust Std. Err.

Innovative firms_______	15.12**	7.094	2.588	5.954	-Ш- 17.24	6.006
∆₂ ln K- *Innov ² L Lit	0.2587***	0.008	7___⅛⅛⅛ 0.292	0.009	7 ~ Ш 0.304	0.009
. K. . ∆ ₂ ln —— *nonInnov ² L ~ Lit	0.01	0.015	0.069	0.011	0.019	0.012
Age* Innov__________	-0.283***	0.069	7__⅝*⅛ -0.286	0.085	7 " _ ⅝*⅛ -0.366	0.078
Age*non Innov______	0.091	0.125	-0.109 .	0.084	0.066	0.091
Temporary *Innov_____	-0.095***	0.035	-0.073*	0.041	7 _ ⅝*⅛ -0.106	0.039
Temporary *non_Innov	-0.199***	0.046	--7—----_ ⅜⅜⅜---- -0.213	0.037	---7______⅜⅜⅜----- -0.197	0.039
Large_______________	Σ $ -1.94	1.113	-1.894*	1.108	-1.081	1.096
Medium___________	* — ,*** -5.74	0.876	--Σ—_ _-⅜⅜⅜---- -5.965	0.871	________⅜⅜⅜---- -4.970	0.864
Group______________	___⅛⅛⅛ 2.86_______	0.680	7 __⅛⅛⅛ 3.199	0.679	Z .„*** 2.48	0.675
Constant_____________	2.61	10.19	14.019	8.799	3.637	9.216
Industry dummies_____	yes		yes		yes
Region dummies_____	yes		yes		yes

Wald test for equality o:	coefficients '	between Innovative and non Innovative_________________
Capital-lab or ratio	[0.000]		[0.000]		[0.000]
Age______________	[0.0085]		[0.138]		[0.0003]
Share of temporary	[0.069]		[0.011]		[0.0946]
Chow test F__________	[0.000]		[0.000]		[0.000]
Adj R²_______________	0.154		0.157		0.171
N____________	7977		7977		7977

Note: * 10%, ** 5%, *** 1% level of significance, p-values in brackets. Size, areas, industry and group dummies
are included in all regressions.

Table 4 shows the OLS coefficients and robust standard errors of the estimates of labor productivity
growth rates (two-year rates) on our variables of interest, interacted with the group dummies.
“Innov” refers to the group of firms introducing an innovation in 2001-2003, while “non_Innov”
refers to the group of the non innovative firms. Column 1 and 2 refer to firms which have
introduced any - hence either product or process - innovation. Column 3 and 4 refer to firms which
have introduced product innovation only and column 5 and 6 refer to firms having introduced
process innovation only. All the regressions include standard control variables such as size,
geographical areas, industry dummies, as well as the dummy that takes a value of one for firms

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