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The Impact of R&D Investment On Productivity - New Evidence Using Linked R&D-LRD Data

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Frank R. Lichtenberg
Donald Siegel

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Abstract

This paper uses confidential Census longitudinal microdata to examine the association between R&D and productivity for the period 1972.1985. These data allow for significant improvements in measurement and model specification, yielding more precise estimates of the returns to R&D. Our results confirm the findings of existing studies: 1) positive returns to R&D investment 2) higher returns to company-financed research 3) a productivity "premium" on basic research These results are robust to our attempts to adjust for "influential" outliers. Also, it appears that the return to company-financed R&D (but not total R&D) is an increasing function of firm size.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2901.

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Date of creation: Oct 1991
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Handle: RePEc:nbr:nberwo:2901

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  1. Kim B. Clark & Zvi Griliches, 1982. "Productivity Growth and R&D at the Business Level: Results From the PIMS Data Base," NBER Working Papers 0916, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Cohen, Wesley M & Levin, Richard C & Mowery, David C, 1987. "Firm Size and R&D Intensity: A Re-examination," Journal of Industrial Economics, Blackwell Publishing, vol. 35(4), pages 543-65, June. [Downloadable!] (restricted)
  3. Minasian, Jora R, 1969. "Research and Development, Production Functions, and Rates of Return," American Economic Review, American Economic Association, vol. 59(2), pages 80-85, May. [Downloadable!] (restricted)
  4. William D. Nordhaus, 1980. "Policy Responses to the Productivity Slowdown," Cowles Foundation Discussion Papers 555, Cowles Foundation, Yale University. [Downloadable!]
  5. Zvi Griliches, 1979. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 92-116, Spring. [Downloadable!] (restricted)
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  6. Link, Albert N, 1981. "Basic Research and Productivity Increase in Manufacturing: Additional Evidence," American Economic Review, American Economic Association, vol. 71(5), pages 1111-12, December. [Downloadable!] (restricted)
  7. Mansfield, Edwin, 1980. "Basic Research and Productivity Increase in Manufacturing," American Economic Review, American Economic Association, vol. 70(5), pages 863-73, December. [Downloadable!] (restricted)
  8. Wesley M. Cohen & Richard C. Levin & David C. Mowery, 1987. "Firm Size and R&D Intensity: A Re-Examination," NBER Working Papers 2205, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. Stern, Robert M & Baum, Christopher F & Greene, Mark N, 1979. "Evidence on Structural Change in the Demand for Aggregate U.S. Imports and Exports," Journal of Political Economy, University of Chicago Press, vol. 87(1), pages 179-92, February. [Downloadable!] (restricted)
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