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The role of R&D and knowledge spillovers in innovation and productivity

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  • Audretsch, David B.
  • Belitski, Maksim

Abstract

The use of both research and development (R&D) and knowledge spillovers has been identified as the source of relative innovation underperformance in Europe vis-à-vis the United States. In this paper, we investigate R&D and knowledge spillovers at the firm level to evaluate the extent to which they complement innovation and firm productivity. We use data on a large unbalanced panel of 9213 UK firms constructed from six consecutive waves of a community innovation survey, an annual business registry survey and a business enterprise research and development survey during 2002–2014. We estimate the knowledge spillover-augmented version of the CDM model of R&D, innovation, and productivity to find that complementarities between R&D and knowledge spillovers are strongly associated with firm productivity rather than firm innovation. R&D is important for both innovation and productivity, while knowledge spillovers are more important than R&D for firm productivity. We also explore the differences between returns to R&D and knowledge spillovers across three distinctive innovation strategies.

Suggested Citation

  • Audretsch, David B. & Belitski, Maksim, 2020. "The role of R&D and knowledge spillovers in innovation and productivity," European Economic Review, Elsevier, vol. 123(C).
    • Handle: RePEc:eee:eecrev:v:123:y:2020:i:c:s0014292120300234
    DOI: 10.1016/j.euroecorev.2020.103391
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    More about this item

    Keywords

    R&D; Innovation; Productivity; Knowledge collaboration; Knowledge spillover;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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