Economics, Econometrics and Finance
4 years ago

Offshoring Innovative Tasks Boosts Firm Innovation Output by 60%

Southern Economic Journal
An Empirical Assessment of the Effects of Trade in Innovative Tasks on Innovation Output
Saleh S. Tabrizy

Paper Summary

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Multinational firms are sending their innovative tasks abroad to see if it helps them come up with new ideas. A study looked at over 14,750 companies in Europe to see if this strategy works. The results show that companies that send their innovative work overseas are 60% more likely to come up with new things. They also make up to 35% of their sales from these new products. However, this only works for product innovation, not process innovation.