Total Factor Productivity and R&D Spillovers
AbstractThe main purpose of this paper is to present new evidence on the long run relationship between R&D efforts and productivity performance of UK manufacturing industries in the presence of inter-industry and international spillovers of technology. The main dataset used to perform this analysis is a panel of eight UK manufacturing industries over the period 1970 to 1997. The empirical results indicate that there is a positive and significant link between industry's R&D activities and productivity in the long run. In addition, robust evidence was found of positive and significant domestic R&D externalities. Conversely, the finding that international spillovers do not contribute to TFP suggests that R&D spillovers are primarily an intra-national phenomenon, which may serve as a warning against under-estimating the importance of domestic technological efforts and over-estimating the potential contribution of international spillovers.
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Bibliographic InfoPaper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 107.
Date of creation: 04 Jun 2003
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R&D spillovers; total factor productivity;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-06-16 (All new papers)
- NEP-DEV-2003-06-16 (Development)
- NEP-EFF-2003-07-29 (Efficiency & Productivity)
- NEP-INO-2003-06-16 (Innovation)
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