Creating Innovations, Productivity and Growth - the efficiency of Icelandic firms
2009 (English)Report (Other academic)
Iceland is one of the smallest European economies and the country was hit severely by the 2008-financial crisis. This paper considers the economy in the period preceding the collapse. Applying a Data Envelopment Analysis on 204 randomly selected firms, the results suggest that a substantial fraction of the Icelandic firms can be classified as non-efficient in their production process. The production scale of many manufacturing firms is too small to be technically efficient, while service firms typically use excessive resources in their production process. A remarkably weak performance in transforming R&D and labour efforts into successful innovations is observed.
Place, publisher, year, edition, pages
CECIS, The Royal Institute of Technology, Stockholm , 2009. , 42 p.
CESIS Working Paper Series in Economics and Institutions of Innovation, 162
Technical efficiency, R&D, Innovation, Productivity
IdentifiersURN: urn:nbn:se:kth:diva-67495OAI: oai:DiVA.org:kth-67495DiVA: diva2:485043
QC 201201312012-01-312012-01-272012-01-31Bibliographically approved