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Capital, Labour, Materials and Additional R&D Investment in Japan - The Issue of Double-Counting

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  • Marga Peeters
  • Paul Ghijsen

Abstract

R&D components are investigated in dynamic factor demand models using pooled Japanese data. Models without R&D, with R&D (double or) wrongly counted and (once or) correctly counted are compared by means of GMM estimates, (non-)nested GMM tests and residual analyses. The results indicate that R&D contributes significantly to the explanation of capital, labour, energy and materials demand in the Japanese manufacturing industry. Double-counted R&D is even preferred to not incorporating R&D as a separate production factor. After including R&D as a production factor and correcting for double-counting, there is however no unambiguous answer to the question which model utilizes the information of R&D best.

Suggested Citation

  • Marga Peeters & Paul Ghijsen, 2000. "Capital, Labour, Materials and Additional R&D Investment in Japan - The Issue of Double-Counting," Annals of Economics and Statistics, GENES, issue 58, pages 165-184.
    • Handle: RePEc:adr:anecst:y:2000:i:58:p:165-184
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    File URL: http://www.jstor.org/stable/20076231
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    Cited by:

    1. Myeongwan Kim, 2019. "Does Import Competition Reduce Domestic Innovation? Evidence from the 'China Stock' and Firm-Level Data on Canadian Manufacturing," CSLS Research Reports 2019-03, Centre for the Study of Living Standards.
    2. Sabine Visser, 2007. "R&D in Worldscan," CPB Memorandum 189, CPB Netherlands Bureau for Economic Policy Analysis.
    3. Myeongwan Kim, 2019. "Does Import Competition Reduce Domestic Innovation? Evidence from the 'China Stock' and Firm-Level Data on Canadian Manufacturing," CSLS Research Reports 2019-03, Centre for the Study of Living Standards.
    4. Myeongwan Kim, John Lester, 2019. "R&D Spillovers in Canadian Industry: Results from a New Micro Database," CSLS Research Reports 2019-02, Centre for the Study of Living Standards.
    5. Myeongwan Kim, John Lester, 2019. "R&D Spillovers in Canadian Industry: Results from a New Micro Database," CSLS Research Reports 2019-02, Centre for the Study of Living Standards.
    6. Sabine Visser, 2007. "R&D in Worldscan," CPB Memorandum 189.rdf, CPB Netherlands Bureau for Economic Policy Analysis.

    More about this item

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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