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R D And Growth: The Missing Link?

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  • SAMANIEGO, ROBERTO M.

Abstract

The 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 Info

Article provided by Cambridge University Press in its journal Macroeconomic Dynamics.

Volume (Year): 11 (2007)
Issue (Month): 05 (November)
Pages: 691-714

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Handle: RePEc:cup:macdyn:v:11:y:2007:i:05:p:691-714_06

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Cited by:
  1. 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.
  2. Rachel L. Ngai, 2007. "An R&D-based Model of Multi-sector Growth," 2007 Meeting Papers 349, Society for Economic Dynamics.
  3. Pascal Le Masson & Armand Hatchuel & BenoƮt Weil, 2010. "Modeling Novelty-Driven Industrial Dynamics with Design Functions: understanding the role of learning from the unknown," Post-Print hal-00696970, HAL.
  4. L. Rachel Ngai & Roberto M. Samaniego, 2009. "Accounting for Research and Productivity Growth Across Industries," CEP Discussion Papers dp0914, Centre for Economic Performance, LSE.
  5. L. Rachel Ngai & Roberto M. Samaniego, 2006. "An R&D-based model of multi-sector growth," LSE Research Online Documents on Economics 3527, London School of Economics and Political Science, LSE Library.
  6. L. Rachel Ngai & Roberto M. Samaniego, 2008. "Research and Productivity Growth Across Industries," LSE Research Online Documents on Economics 4410, London School of Economics and Political Science, LSE Library.
  7. Frederick L. Joutz & Yasser Abdih, 2008. "The Impact of Public Capital, Human Capital, and Knowledgeon Aggregate Output," IMF Working Papers 08/218, International Monetary Fund.

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