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Measuring the Returns to R&D

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  • Bronwyn H. Hall
  • Jacques Mairesse
  • Pierre Mohnen

Abstract

We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement. In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 15622.

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Date of creation: Dec 2009
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Handle: RePEc:nbr:nberwo:15622

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Cited by:
  1. Eberhardt, Markus & Helmers, Christian & Strauss, Hubert, 2010. "Do spillovers matter when estimating private returns to R&D?," Economic and Financial Reports 2010/1, European Investment Bank, Economics Department.
  2. Hall, Bronwyn H., 2011. "Innovation and productivity," UNU-MERIT Working Paper Series 028, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  3. Pacher, Sebastian, 2012. "The modern enterprise and the stock market: exploring the effects of uncertainty on the valuation and financing of innovation and intangibles," Open Access publications from Maastricht University urn:nbn:nl:ui:27-31195, Maastricht University.
  4. Gustavo Crespi & Galileo Solís & Ezequiel Tacsir, 2011. "Evaluación del impacto de corto plazo de SENACYT en la innovación de las empresas panameñas," IDB Publications 38218, Inter-American Development Bank.
  5. Gustavo Crespi & Rodrigo Fuentes & Roberto Alvarez & Jeffrey Orozco, 2010. "Nota técnica sobre el sistema nacional de innovación de Costa Rica: Una contribución al diálogo de políticas públicas entre el Gobierno de La República de Costa Rica y el Banco Inter-Americano ," IDB Publications 8608, Inter-American Development Bank.
  6. Marco Corsino & Roberto Gabriele & Anna Giunta, 2012. "R&D Incentives: The Effectiveness Of A Place-Based Policy," Departmental Working Papers of Economics - University 'Roma Tre' 0169, Department of Economics - University Roma Tre.
  7. repec:pra:mprapa:29083 is not listed on IDEAS
  8. Haskel, J & Goodridge, P & Wallis, G, 2012. "Spillovers from R&D and other intangible investment: evidence from UK industries," Working Papers 10009, Imperial College, London, Imperial College Business School.
  9. Vincent Delbecque & Sylvie Le Laidier & Jacques Mairesse & Laurence Nayman, 2012. "L'évaluation des investissements incorporels en France : Méthodes et premiers résultats," Working Papers 2012-26, Centre de Recherche en Economie et Statistique.

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