R D And Growth: The Missing Link?
AbstractThe presumption that R D is a key driver of economic growth is difficult to reconcile with empirical evidence. For example, in most studies, which identify technical change with total factor productivity (TFP), the link between TFP and measures of knowledge is found to be weak.This paper shows that a reconciliation may be possible in a model where R D contributes to growth through investment-specific technical change. Such a model predicts that the empirical link between knowledge and productivty would be weak even if the generation of knowledge is the predominant factor of economic growth. The paper also shows that estimates of the production function for knowledge using patent data may be biased.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Macroeconomic Dynamics.
Volume (Year): 11 (2007)
Issue (Month): 05 (November)
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- L. Rachel Ngai & Roberto M. Samaniego, 2009.
"Accounting for Research and Productivity Growth Across Industries,"
CEP Discussion Papers
dp0914, Centre for Economic Performance, LSE.
- Rachel Ngai & Roberto Samaniego, 2011. "Accounting for Research and Productivity Growth Across Industries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(3), pages 475-495, July.
- L. Rachel Ngai & Roberto M. Samaniego, 2006.
"An R&D-Based Model of Multi-Sector Growth,"
CEP Discussion Papers
dp0762, Centre for Economic Performance, LSE.
- Frederick L. Joutz & Yasser Abdih, 2008. "The Impact of Public Capital, Human Capital, and Knowledge on Aggregate Output," IMF Working Papers 08/218, International Monetary Fund.
- Ngai, Liwa Rachel & Samaniego, Roberto, 2007. "On the Long run Determinants of Industry TFP Growth Rates," CEPR Discussion Papers 6408, C.E.P.R. Discussion Papers.
- Pascal Le Masson & Armand Hatchuel & Benoît Weil, 2010. "Modeling Novelty-Driven Industrial Dynamics with Design Functions: understanding the role of learning from the unknown," Post-Print hal-00696970, HAL.
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