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The Importance of R&D and Innovation for Productivity: A Reexamination in Light of the 2000 French Innovation Survey

In: Contributions in Memory of Zvi Griliches

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  • Jacques Mairesse
  • Pierre Mohnen
  • Elizabeth Kremp

Abstract

This paper consists in a detailed robustness investigation of the Crépon, Duguet and Mairesse [1998] (CDM) econometric framework, which encompasses as a reduced form equation the production function extended to R&D, as pioneered by Zvi Griliches. We focus on the sensitivity of the estimated productivity elasticities of innovation and R&D, with respect to different model specifications and estimation methods, and to the different innovation output quantitative and qualitative indicators available in the 1998-2000 French Community Innovation Survey. The main conclusion we draw is that as long as we properly correct for endogeneity and also, when appropriate, for selectivity, we find again estimates of the productivity elasticities of R&D and of the corresponding median rates of return to R&D, which are close to the usual estimates from the extended Cobb-Douglas production function. We interpret the need to instrument innovation and R&D as revealing important measurement errors in the innovation intensity variables, as well as but to a lesser extent in the innovation binary indicators, the R&D intensity variable and binary indicator. Although innovation surveys unveil interesting information and the CDM model is a good framework, which can both be used to advance our understanding of the firm R&D and innovation activities and performances, much more remains to be done to improve the quality of the data and relevance of the analysis.

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This chapter was published in:

  • Jacques Mairesse & Manuel Trajtenberg, 2010. "Contributions in Memory of Zvi Griliches," NBER Books, National Bureau of Economic Research, Inc, number mair10-1, October.
    This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 12244.

    Handle: RePEc:nbr:nberch:12244

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    Cited by:
    1. Michael Polder & George van Leeuwen & Pierre Mohnen & Wladimir Raymond, 2010. "Product, Process and Organizational Innovation: Drivers, Complementarity and Productivity Effects," CIRANO Working Papers 2010s-28, CIRANO.
    2. Wladimir Raymond & Jacques Mairesse & Pierre Mohnen & Franz Palm, 2013. "Dynamic Models of R&D, Innovation and Productivity: Panel Data Evidence for Dutch and French Manufacturing," CIRANO Working Papers 2013s-12, CIRANO.
    3. Pierre Mohnen & Bronwyn H. Hall, 2013. "Innovation and Productivity: An Update," Eurasian Business Review, Eurasia Business and Economics Society, vol. 3(1), pages 47-65, Spring.
    4. Gustavo Crespi & Pluvia Zuñiga, 2010. "Innovation and Productivity: Evidence from Six Latin American Countries," IDB Publications 6875, Inter-American Development Bank.
    5. Jacques Mairesse & Pierre Mohnen, 2010. "Using Innovation Surveys for Econometric Analysis," CIRANO Working Papers 2010s-15, CIRANO.
    6. Bronwyn H. Hall & Jacques Mairesse & Pierre Mohnen, 2009. "Measuring the Returns to R&D," NBER Working Papers 15622, National Bureau of Economic Research, Inc.
    7. Bronwyn H. Hall, 2011. "Innovation and Productivity," NBER Working Papers 17178, National Bureau of Economic Research, Inc.
    8. Waheed, Abdul, 2011. "Innovation and firm-level productivity: econometric evidence from Bangladesh and Pakistan," MERIT Working Papers 061, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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