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The Institutional Drivers of Commercialization Efficiency

Vitsjuk, Maksim LU (2025) EKHS11 20251
Department of Economic History
Abstract
This thesis investigates how formal, national-level institutional factors shape the translation of R&D
inputs into marketable innovation outputs in high- and medium-high-technology (HMHT)
manufacturing. Focusing on Sweden’s persistent “innovation paradox”, high R&D intensity but
comparatively modest commercialization—the study examines three institutional dimensions: domestic
value added (DVA) in exports, R&D-related tax incentives, and university–industry cooperation (UIC).
A balanced panel of four OECD countries (Sweden, Denmark, Austria, Poland) over 2004–2020 is
constructed from harmonized OECD, Eurostat CIS, and TiVA data. Turnover from new-to-market
products in HMHT manufacturing, deflated to constant 2015 USD, serves as the... (More)
This thesis investigates how formal, national-level institutional factors shape the translation of R&D
inputs into marketable innovation outputs in high- and medium-high-technology (HMHT)
manufacturing. Focusing on Sweden’s persistent “innovation paradox”, high R&D intensity but
comparatively modest commercialization—the study examines three institutional dimensions: domestic
value added (DVA) in exports, R&D-related tax incentives, and university–industry cooperation (UIC).
A balanced panel of four OECD countries (Sweden, Denmark, Austria, Poland) over 2004–2020 is
constructed from harmonized OECD, Eurostat CIS, and TiVA data. Turnover from new-to-market
products in HMHT manufacturing, deflated to constant 2015 USD, serves as the dependent variable.
Using pooled OLS, fixed effects, and lagged specifications with standardized regressors, results indicate
that UIC and tax incentives show positive but statistically insignificant associations with
commercialization, while DVA exhibits a consistent negative relationship, statistically significant in
lagged models. Findings suggest that institutional input levers alone are insufficient; commercialization
efficiency is conditioned by structural factors such as value-chain positioning, production geography,
and domestic scaling capacity. Policy implications emphasize shifting from broad input subsidies
toward targeted measures that strengthen domestic appropriation, scale-up, and commercialization
pipelines. (Less)
Please use this url to cite or link to this publication:
author
Vitsjuk, Maksim LU
supervisor
organization
alternative title
How do institutions shape the commercialization of innovation in four countries?
course
EKHS11 20251
year
type
L1 - 1st term paper (old degree order)
subject
keywords
Swedish paradox, Institutions, Innovation, Commercialization
language
English
id
9216482
date added to LUP
2026-03-16 10:23:00
date last changed
2026-03-16 10:23:03
@misc{9216482,
  abstract     = {{This thesis investigates how formal, national-level institutional factors shape the translation of R&D
inputs into marketable innovation outputs in high- and medium-high-technology (HMHT)
manufacturing. Focusing on Sweden’s persistent “innovation paradox”, high R&D intensity but
comparatively modest commercialization—the study examines three institutional dimensions: domestic
value added (DVA) in exports, R&D-related tax incentives, and university–industry cooperation (UIC).
A balanced panel of four OECD countries (Sweden, Denmark, Austria, Poland) over 2004–2020 is
constructed from harmonized OECD, Eurostat CIS, and TiVA data. Turnover from new-to-market
products in HMHT manufacturing, deflated to constant 2015 USD, serves as the dependent variable.
Using pooled OLS, fixed effects, and lagged specifications with standardized regressors, results indicate
that UIC and tax incentives show positive but statistically insignificant associations with
commercialization, while DVA exhibits a consistent negative relationship, statistically significant in
lagged models. Findings suggest that institutional input levers alone are insufficient; commercialization
efficiency is conditioned by structural factors such as value-chain positioning, production geography,
and domestic scaling capacity. Policy implications emphasize shifting from broad input subsidies
toward targeted measures that strengthen domestic appropriation, scale-up, and commercialization
pipelines.}},
  author       = {{Vitsjuk, Maksim}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{The Institutional Drivers of Commercialization Efficiency}},
  year         = {{2025}},
}