What Determines Industrial R&D Expenditure In The Uk?
AbstractIn this paper we identify some of the factors behind the comparatively poor R&D performance of the UK in the 1990s, when R&D intensity in the business sector declined consistently. We estimate an econometric model of R&D using a panel of UK manufacturing industries. Our results highlight the importance of industry characteristics such as sales and profitability, product market competition, macroeconomic factors such as interest and exchange rates, and the composition of R&D expenditure and funding. A rise in the share of government-funded R&D or the share of foreign R&D is found to have a positive impact on aggregate R&D expenditure. Copyright � 2008 The Authors; Journal compilation � 2008 Blackwell Publishing Ltd and The University of Manchester.
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Bibliographic InfoArticle provided by University of Manchester in its journal Manchester School.
Volume (Year): 76 (2008)
Issue (Month): 1 (01)
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- Nigel Pain, 2003. "What Determines Industrial R&D Expenditure in the UK?," NIESR Discussion Papers, National Institute of Economic and Social Research 131, National Institute of Economic and Social Research.
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