The Heterogeneous Impact of Market Size on Innovation: Evidence from French Firm-Level Exports
研究法国出口企业面临的需求冲击如何影响其专利创新，发现只有最初生产率较高的企业才会增加专利，且这种效应在冲击后2-5年显现。
Abstract We analyze how demand conditions faced by a firm in its export markets affect its innovation decisions. We exploit exogenous firm-level export demand shocks and find that firms respond by patenting more; furthermore, this response is driven by the subset of initially more productive firms. The patent response arises two to five years after the shock, highlighting the time required to innovate. In contrast, the demand shock raises contemporaneous sales and employment for all firms regardless of their productivity. This skewed innovation response to common demand shocks arises naturally from a model of endogenous innovation and competition with firm heterogeneity.