Product Innovation in the Food Industry: Nature, Characteristics and Determinants

Abstract

This paper analyzes the nature of food product innovations and examines the determinants of innovative activity in a cross-section of the U.S. food industries. Employing an empirical model developed by Acs and Audretch (1990), we empirically test the hypothesis that, since in this industry product innovations are mainly incremental, innovative performances are poorly related to R&D intensity. As dependent variables, we use a direct measure of innovation provided by the U.S. Small Business Administration. The empirical results indicate that in most US. food industry, large firms present higher innovation rates than smaller firms and provide also some evidence that imperfect competition is conducive to innovation. In addition, they suggest that vertical relations have a significant impact on innovative activity.

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