What is it about?
The Caribbean has one the lowest rates of R&D investment intensity by firms. This characteristic can limit the growth and sustainability of Caribbean businesses given the role that this type of investment plays in firm growth and competitiveness. This paper examines the R&D decision of Caribbean firms and provides insights into the financing of R&D investment.
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Why is it important?
It is important to investigate the R&D effort of developing nations in order to formulate policies that can improve their transformative capacity through innovation. Our findings show that financing constraints impede firm R&D decision. Therefore, policymakers could encourage an enabling environment for private sector investment in R&D, further facilitating collaboration from sources external to the firm such as angel investors, venture capitalist, suppliers and universities, encouraging the risk sharing of R&D investment.
Perspectives
I hope this article makes people more aware of the importance of R&D investment in the region. Research on this area as well as innovation is key to improving the region's productive capabilities and curbing the brain drain in the region.
Tracey Broome
University of the West Indies Cave Hill Campus
Read the Original
This page is a summary of: Financing constraints and the R&D decision in the Caribbean, Entrepreneurship and Regional Development, September 2018, Taylor & Francis,
DOI: 10.1080/08985626.2018.1515820.
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