A note on innovation in the chemical industy in Italy

Summary

In our analysis we have recalled the general results of recent studies on innovation according to which innovation within the manufacturing industry is a complex phenomenon which does not lend itself to description or explanation utilising simplistic analytical models. We have then taken into account clues garnered from various descriptions of the innovative behaviour of companies utilising several indicators of  how innovative they are. Our results confirm the belief that notable differences exist between the two sub-sectors into which the chemical industry is divided: pharmaceutical and basic chemicals. Regarding the policy implications of our research, the close correlation between  patents and basic research expenditure suggests that the Italian Fund for Basic Research might play a useful role in promoting innovation in the chemical industry.