Technological Capital Investment Effect on Business Productivityin the Department of Bolívar, Colombia

Abstract

This paper measures the economic effect of investment in technological capital on the productivity of firms in the prioritized sectors of Bolívar department, Colombia, in accordance with the Regional Competitiveness Plan of Cartagena and Bolívar. For this purpose, the Multivariate Panel model technique is applied, which proposes a measurement of the investment in Technological Capital (CT) using the financial statements of companies in the department of Bolívar —in the period 1995 – 2014— grouped in 16 branches of economic activity registered with the Superintendence of Corporations. Estimates of the econometric model indicate that investment in Science, Technology and Innovation is reflected in an increase in the overall profitability of the company that performs it.