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R&D, Production Structure and Productivity Growth: A Comparison of the US, Japanese and Korean Manufacturing Sectors

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  • M. Ishaq Nadiri
  • Seongjun Kim
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    Abstract

    We estimate and compare the production structures of the US, Japanese, and Korean total manufacturing sectors for the 1974-1990 period. We employ a translog variable cost function that includes such inputs as labor, materials, physical and R&D capital with the physical and R&D capital treated as quasi-fixed subject to adjustment costs. The paper provides estimates for markups, returns to scale, rates of return on physical and R&D capital, and technical change. The paper also identifies the sources of the growth of output, labor productivity, and total factor productivity. The results show that resource accumulation, not technical change, is the key factor in rapid output growth, and that the R&D capital and technical change have been major contributors of the TFP growth in the US and Japanese manufacturing but not in the Korean manufacturing sector.

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    Bibliographic Info

    Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5506.

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    Date of creation: Mar 1996
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    Publication status: Published as "R&D, Production Structure and Rates of Return in the U.S., Japanese and German Manufacturing Sectors: A Non-Sector Model", European Economic Review, Vol. 30, no. 4 (1986): 749-772.
    Handle: RePEc:nbr:nberwo:5506

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    Cited by:
    1. Chia-Hung Sun, 2005. "Productivity growth in East Asian manufacturing: a fading miracle or measurement problem?," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(1), pages 1-19.
    2. Smolny, Werner, 1997. "Endogenous innovations in a model of the firm: Theory and empirical application for West-German manufacturing firms," Discussion Papers 39, University of Konstanz, Center for International Labor Economics (CILE).
    3. Hall, Bronwyn H. & Mairesse, Jacques & Mohnen, Pierre, 2010. "Measuring the Returns to R&D," MERIT Working Papers 006, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    4. Brandt, Nicola, 2007. "Mark-ups, economies of scale and the role of knowledge spillovers in OECD industries," European Economic Review, Elsevier, Elsevier, vol. 51(7), pages 1708-1732, October.
    5. Liqun Zhou & Liangke Xia, 2010. "How R&D investments influence TFP growth: Evidence from China’s large and medium-sized industrial enterprises," Frontiers of Economics in China, Springer, Springer, vol. 5(4), pages 537-558, December.
    6. Chia-Hung Sun, 2006. "Imperfect Competition, Economic Miracle, and Manufacturing Productivity Growth: Empirical Evidence from Taiwan," Atlantic Economic Journal, International Atlantic Economic Society, International Atlantic Economic Society, vol. 34(3), pages 341-359, September.
    7. Taegi Kim & Changsuh Park, 2006. "Productivity growth in Korea: efficiency improvement or technical progress?," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 38(8), pages 943-954.

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