BIS ECONOMICS PAPER NO. 5
Internationalisation of Innovative and High Growth SMEs
MARCH 2010
BIS ECONOMICS PAPER NO. 5
Internationalisation of Innovative and High Growth SMEs
MARCH 2010
The views expressed within BIS Economics Papers are those of the authors and should not be treated as Government policy.
Contents
Foreword ExecutiveSummary 1.ntroduction I 1.1 The role of innovative and high growth SMEs in the economy: overview 1.2 Outline of paper 2. ecentTrendsinUKSMEInternationalisation R 2.1 Is exporting 'rare' among UK SMEs 2.2 Variations in the incidence of exporting across sectors 2.3 Exporting is more prevalent among innovative firms 2.4 'Born Globals' 2.5 Export intensity 2.6 Export market diversification 2.7 Characteristics of UK exporters 2.8 Characteristics of Born Globals 2.9 Conclusions Chapter2Appendix SMEs as a driver of productivity growth 3. hyandHowdofirmsInternationalise W 3.1 Theoretical models of heterogeneous firms 3.2 Internationalisation models from the international business literature 3.3 Drivers of overseas market choice 3.4 Choice of Internationalisation Mode 3.5 Conclusions 4. enefitsofInternationalisation B 4.1 Exporting, R&D, and innovation 4.2 Survey evidence 4.3 Financial performance and firm survival 4.4 Spill-overs 4.5 Conclusions Chapter4Appendix 5. arrierstoInnovativeSMEInternationalisation B 5.1 Resource Barriers 5.2 Information and Networks 5.3 Cultural barriers 5.4 Legal, regulatory, and procedural barriers 5.5 Barriers and Innovative firms 5.6 Barriers and Market 5.7 Barriers and Export Experience 5.8 Conclusions ix x 1 1 4 6 6 8 11 12 15 18 21 21 22 23 24 26 26 29 34 43 48 51 54 57 62 63 65 66 70 71 73 77 78 78 83 84 85
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Internationalisation of Innovative and High Growth SMEs
6. onclusionsandPolicyImplications C 6.1 Policies to support SME internationalisation 6.2 Building absorptive capacity 6.3 Pro-active targeting vs client self-selection 6.4 Policy objectives 6.5 Conclusions Chapter6Appendix1 Chapter6Appendix2MonitoringandEvaluationEvidence Impact evaluations of specific services: References

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