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When Do Research Consortia Work Well and Why? Evidence from Japanese Panel Data

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  • Lee G. Branstetter
  • Mariko Sakakibara
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    Abstract

    We examine the impact of a large number of Japanese government-sponsored research consortia on the research productivity of participating firms by measuring their patenting in the targeted technologies before, during, and after participation. Consistent with the theoretical predictions of Katz (1986) and others, we find consortium outcomes are positively associated with the level of potential R&D spillovers within the consortium and (weakly) negatively associated with the degree of product market competition among consortium members. Furthermore, our evidence suggests that consortia are most effective when they focus on basic research.

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    Bibliographic Info

    Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7972.

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    Date of creation: Oct 2000
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    Publication status: published as Branstetter, Lee G. and Mariko Sakakibara. "When Do Research Consortia Work Well and Why? Evidence from Japanese Panel Data." American Economic Review 92, 1 (March 2002): 143-159.
    Handle: RePEc:nbr:nberwo:7972

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    1. Leahy, Dermot & Neary, J Peter, 1995. "Public Policy Towards R&D in Oligopolistic Industries," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1243, C.E.P.R. Discussion Papers.
    2. Richard C. Levin & Peter C. Reiss, 1988. "Cost-Reducing and Demand-Creating R&D with Spillovers," RAND Journal of Economics, The RAND Corporation, vol. 19(4), pages 538-556, Winter.
    3. Tor Jakob Klette & Jarle Moen & Zvi Griliches, 1999. "Do Subsidies to Commercial R&D Reduce Market Failures - Microeconomic Evaluation Studies?," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1861, Harvard - Institute of Economic Research.
    4. Rebecca Henderson & Iain Cockburn, 1996. "Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 32-59, Spring.
    5. Branstetter, Lee & Sakakibara, Mariko, 1998. "Japanese Research Consortia: A Microeconometric Analysis of Industrial Policy," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 46(2), pages 207-33, June.
    6. Adam B. Jaffe, 1986. "Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value," NBER Working Papers 1815, National Bureau of Economic Research, Inc.
    7. Branstetter, Lee, 2000. "Vertical Keiretsu and Knowledge Spillovers in Japanese Manufacturing: An Empirical Assessment," Journal of the Japanese and International Economies, Elsevier, vol. 14(2), pages 73-104, June.
    8. Kamien, Morton I & Muller, Eitan & Zang, Israel, 1992. "Research Joint Ventures and R&D Cartels," American Economic Review, American Economic Association, American Economic Association, vol. 82(5), pages 1293-306, December.
    9. Klette, T.J. & Moen, J. & Griliches, Z., 1999. "Do Subsidies to Commercial R&D Reduce Market Failures? Microeconometric Evaluation Studies," Papers, Norwegian School of Economics and Business Administration- 16/99, Norwegian School of Economics and Business Administration-.
    10. Douglas A. Irwin & Peter J. Klenow, 1994. "High Tech R&D Subsidies: Estimating the Effects of Sematech," NBER Working Papers 4974, National Bureau of Economic Research, Inc.
    11. Suzumura, Kotaro, 1992. "Cooperative and Noncooperative R&D in an Oligopoly with Spillovers," American Economic Review, American Economic Association, American Economic Association, vol. 82(5), pages 1307-20, December.
    12. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 99(397), pages 569-96, September.
    13. Spence, Michael, 1984. "Cost Reduction, Competition, and Industry Performance," Econometrica, Econometric Society, Econometric Society, vol. 52(1), pages 101-21, January.
    14. Moulton, Brent R., 1986. "Random group effects and the precision of regression estimates," Journal of Econometrics, Elsevier, Elsevier, vol. 32(3), pages 385-397, August.
    15. Sakakibara, Mariko, 1997. "Evaluating government-sponsored R&D consortia in Japan: who benefits and how?," Research Policy, Elsevier, Elsevier, vol. 26(4-5), pages 447-473, December.
    16. Ashenfelter, Orley C, 1978. "Estimating the Effect of Training Programs on Earnings," The Review of Economics and Statistics, MIT Press, vol. 60(1), pages 47-57, February.
    17. Michael L. Katz, 1986. "An Analysis of Cooperative Research and Development," RAND Journal of Economics, The RAND Corporation, vol. 17(4), pages 527-543, Winter.
    18. Kamien, Morton I. & Zang, Israel, 2000. "Meet me halfway: research joint ventures and absorptive capacity," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 18(7), pages 995-1012, October.
    19. Katsoulacos, Yannis & Ulph, David, 1998. "Endogenous Spillovers and the Performance of Research Joint Ventures," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 46(3), pages 333-57, September.
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    Cited by:
    1. Benfratello, Luigi & Sembenelli, Alessandro, 2002. "Research joint ventures and firm level performance," Research Policy, Elsevier, Elsevier, vol. 31(4), pages 493-507, May.
    2. Stolpe, Michael, 2002. "Determinants of knowledge diffusion as evidenced in patent data: the case of liquid crystal display technology," Research Policy, Elsevier, Elsevier, vol. 31(7), pages 1181-1198, September.
    3. Branstetter, Lee G., 2001. "Are knowledge spillovers international or intranational in scope?: Microeconometric evidence from the U.S. and Japan," Journal of International Economics, Elsevier, Elsevier, vol. 53(1), pages 53-79, February.
    4. Masao Nakamura & Masao Nakamura & Harry Nelson & Ilan Vertinsky, 2003. "Cooperative R&D and the Canadian forest products industry," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(2-3), pages 147-169.
    5. Michael Stolpe, 2001. "Mobility of Research Workers and Knowledge Diffusion as Evidenced in Patent Data The Case of Liquid Crystal Display Technoloy," Kiel Working Papers 1038, Kiel Institute for the World Economy.

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