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The contribution of the publicly-funded R&D capital to productivity growth and an application to the Greek food and beverages industry

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  • E. C. Mamatzakis

Abstract

This paper follows the dual-cost function methodology and develops a theoretical specification that assesses the contribution of public R&D capital to the productivity growth. The empirical application focuses on the Greek food and beverages industry. For this purpose it employs a micro-aggregated annual data set over the period 1976-2002. The regression analysis shows that publicly-funded R&D capital is a productive input as 8.7% and 7.3% of the total factor productivity growth in the food industry and in the beverages industry respectively is attributed to the publicly-funded R&D capital. The relationship between publicly-funded R&D and privately-purchased inputs is also examined.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/02692171.2010.483795
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal International Review of Applied Economics.

Volume (Year): 24 (2010)
Issue (Month): 4 ()
Pages: 483-494

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Handle: RePEc:taf:irapec:v:24:y:2010:i:4:p:483-494

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Keywords: public R&D; productivity growth; rate of return;

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References

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  1. Cockburn, Iain & Griliches, Zvi, 1988. "Industry Effects and Appropriability Measures in the Stock Market's Valuation of R&D and Patents," American Economic Review, American Economic Association, vol. 78(2), pages 419-23, May.
  2. Zvi Griliches, 1958. "Research Costs and Social Returns: Hybrid Corn and Related Innovations," Journal of Political Economy, University of Chicago Press, vol. 66, pages 419.
  3. repec:fth:inseep:9730 is not listed on IDEAS
  4. David, Paul A. & Hall, Bronwyn H. & Toole, Andrew A., 1999. "Is Public R&D a Complement or Substitute for Private R&D? A Review of the Econometric Evidence," Department of Economics, Working Paper Series qt1sz6g8bv, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  5. Catherine J. Morrison & Amy Ellen Schwartz, 1992. "State Infrastructure and Productive Performance," NBER Working Papers 3981, National Bureau of Economic Research, Inc.
  6. Zvi Griliches & Jacques Mairesse, 1995. "Production Functions: The Search for Identification," NBER Working Papers 5067, National Bureau of Economic Research, Inc.
  7. Bronwyn H. Hall, 2007. "Measuring the Returns to R&D: The Depreciation Problem," NBER Working Papers 13473, National Bureau of Economic Research, Inc.
  8. Fumio Hayashi & Tohru Inoue, 1990. "The Relation Between Firm Growth and Q with Multiple Capital Goods: Theory and Evidence from Panel Data on Japanese Firms," NBER Working Papers 3326, National Bureau of Economic Research, Inc.
  9. Bronwyn H. HALL & Raffaele ORIANI, 2004. "Does the Market Value R&D Investment by European Firms? Evidence from a Panel of Manufacturing Firms in France," Economics Working Papers ECO2004/13, European University Institute.
  10. Bonte, Werner, 2004. "Spillovers from publicly financed business R&D: some empirical evidence from Germany," Research Policy, Elsevier, vol. 33(10), pages 1635-1655, December.
  11. Blundell, Richard & Griffith, Rachel & van Reenen, John, 1999. "Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms," Review of Economic Studies, Wiley Blackwell, vol. 66(3), pages 529-54, July.
  12. Lichtenberg, Frank R, 1988. "The Private R&D Investment Response to Federal Design and Technical Competitions," American Economic Review, American Economic Association, vol. 78(3), pages 550-59, June.
  13. Zvi Griliches, 1998. "Interindustry Technology Flows and Productivity Growth: A Reexamination," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 241-250 National Bureau of Economic Research, Inc.
  14. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1986. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
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