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Public support for innovation, intangible investment and productivity growth in the UK market sector

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  • Haskel, J
  • Wallis, G

Abstract

Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other "research" activities, such as software. Second, argument still rages about the efficacy of direct public spending on R&D via spending on academic research councils, universities, and government undertaken work on civil and military R&D. To evaluate these questions we use data on market sector productivity, R&D and non-R&D intangible assets, and public sector R&D spending. We look for evidence of market sector spillovers from intangible investment and from public R&D. We find (a) no evidence of spillover effects from intangible investment at the market sector level, including from R&D, (b) strong evidence of market sector spillovers from public R&D spend on research councils, and (c) no evidence of market sector spillovers from public spending on civil or defence R&D. Our findings tentatively suggest that for maximum market sector productivity impact government innovation policy should focus on direct spending on research councils.

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Paper provided by Imperial College, London, Imperial College Business School in its series Working Papers with number 5280.

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Date of creation: 2010
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Handle: RePEc:imp:wpaper:5280

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  1. Griliches, Zvi, 1992. " The Search for R&D Spillovers," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(0), pages S29-47, Supplemen.
  2. Bruno Van Pottelsberghe & Dominique Guellec, 2003. "The impact of public R&D expenditure on business R&D," ULB Institutional Repository 2013/6213, ULB -- Universite Libre de Bruxelles.
  3. Bruno Van Pottelsberghe & Dominique Guellec, 2004. "From R&D to productivity growth: do the institutional settings and the sources of funds of R&D matter?," ULB Institutional Repository 2013/6207, ULB -- Universite Libre de Bruxelles.
  4. Carol Corrado & Charles Hulten & Daniel Sichel, 2005. "Measuring Capital and Technology: An Expanded Framework," NBER Chapters, in: Measuring Capital in the New Economy, pages 11-46 National Bureau of Economic Research, Inc.
  5. Mauro Giorgio Marrano & Jonathan Haskel, 2006. "How Much Does the UK Invest in Intangible Assets?," Working Papers 578, Queen Mary, University of London, School of Economics and Finance.
  6. Mauro Giorgio Marrano & Jonathan Haskel & Gavin Wallis, 2009. "What Happened To The Knowledge Economy? Ict, Intangible Investment, And Britain'S Productivity Record Revisited," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 686-716, 09.
  7. O'Mahony, Mary & Vecchi, Michela, 2009. "R&D, knowledge spillovers and company productivity performance," Research Policy, Elsevier, vol. 38(1), pages 35-44, February.
  8. Stiroh, Kevin J, 2002. "Are ICT Spillovers Driving the New Economy?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(1), pages 33-57, March.
  9. Carol Corrado & John Haltiwanger & Dan Sichel, 2005. "Measuring Capital in the New Economy," NBER Books, National Bureau of Economic Research, Inc, number corr05-1, octubre-d.
  10. Carol Corrado & Charles Hulten & Daniel Sichel, 2006. "Intangible capital and economic growth," Finance and Economics Discussion Series 2006-24, Board of Governors of the Federal Reserve System (U.S.).
  11. Poole, E. & Bernard, J.T., 1990. "Deference Innovation Stock And Total Factor Productivity," Cahiers de recherche 9007, Université Laval - Département d'économique.
  12. Zvi Griliches, 1998. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 17-45 National Bureau of Economic Research, Inc.
  13. Bruno Van Pottelsberghe & Dominique Guellec, 2001. "The internationalisation of technology analysed through patent data," ULB Institutional Repository 2013/6277, ULB -- Universite Libre de Bruxelles.
  14. Carol Corrado & Charles Hulten & Daniel Sichel, 2009. "Intangible Capital And U.S. Economic Growth," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(3), pages 661-685, 09.
  15. Goodridge, Peter & Haskel, Jonathan & Wallis, Gavin, 2012. "UK Innovation Index: Productivity and Growth in UK Industries," CEPR Discussion Papers 9063, C.E.P.R. Discussion Papers.
  16. Schankerman, Mark, 1981. "The Effects of Double-Counting and Expensing on the Measured Returns to R&D," The Review of Economics and Statistics, MIT Press, vol. 63(3), pages 454-58, August.
  17. Salter, Ammon J. & Martin, Ben R., 2001. "The economic benefits of publicly funded basic research: a critical review," Research Policy, Elsevier, vol. 30(3), pages 509-532, March.
  18. Scherer, F. M., 1982. "Inter-industry technology flows in the United States," Research Policy, Elsevier, vol. 11(4), pages 227-245, August.
  19. Bruno Van Pottelsberghe & Dominique Guellec, 2001. "The internationalisation of technology analysed with patent data," ULB Institutional Repository 2013/6223, ULB -- Universite Libre de Bruxelles.
  20. Mansfield, Edwin, 1998. "Academic research and industrial innovation: An update of empirical findings1," Research Policy, Elsevier, vol. 26(7-8), pages 773-776, April.
  21. Haskel, J & Clayton, T & Goodridge, P & Pesole, A & Barnett, D & Chamberlain, G & Jones, R & Khan, K & Turvey, A, 2010. "Innovation, knowledge spending and productivity growth in the UK: interim report for NESTA 'Innovation Index? project," Working Papers 5279, Imperial College, London, Imperial College Business School.
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Cited by:
  1. Ana Rincon & Michela VECCHI & Francesco VENTURINI, 2012. "ICT spillovers, absorptive capacity and productivity performance," Quaderni del Dipartimento di Economia, Finanza e Statistica 103/2012, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
  2. Dan Corry & Anna Valero & John Van Reenen, 2011. "UK Economic Performance Since 1997: Growth, Productivity and Jobs," CEP Special Papers 24, Centre for Economic Performance, LSE.
  3. Paz Grimberg & Zeev Schuss, 2014. "Stochastic model of a pension plan," Papers 1407.0517, arXiv.org.
  4. Federica Rossi & Ainurul Rosli, 2013. "Indicators of university-industry knowledge transfer performance and their implications for universities: Evidence from the UK’s HE-BCI survey," Working Papers 13, Birkbeck Centre for Innovation Management Research, revised Aug 2013.
  5. Francesco Venturini & Ana Rincon-Aznar & Dr Michela Vecchi, 2013. "ICT as a general purpose technology: spillovers, absorptive capacity and productivity performance," NIESR Discussion Papers 11717, National Institute of Economic and Social Research.
  6. Amani Elnasri & Kevin J. Fox, 2014. "The Contribution of Research and Innovation to Productivity and Economic Growth," Discussion Papers 2014-08, School of Economics, The University of New South Wales.
  7. repec:cge:warwcg:90 is not listed on IDEAS

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