What Determines Industrial R&D Expenditure in the UK?
AbstractThe purpose of this paper is to try and identify some of the factors behind the comparatively poor R&D performance of the UK in the 1990s, a decade when R&D intensity in the business sector declined consistently. We estimate an econometric model of R&D expenditure using a panel of UK manufacturing industries. Our results highlight the importance of industry characteristics such as sales and profitability, product market competition, macroeconomic factors such as real long-term interest rates and the real effective exchange rate, skilled labour, and the composition of R&D expenditure and funding. A rise in either the share of R&D funded by the government or the share of R&D undertaken by foreign firms is found to have a significant positive impact on the aggregate level of R&D expenditure.
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Date of creation: Apr 2003
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- Bettina Becker & Nigel Pain, 2008. "What Determines Industrial R&D Expenditure In The Uk?," Manchester School, University of Manchester, vol. 76(1), pages 66-87, 01.
- NEP-ALL-2003-04-21 (All new papers)
- NEP-EEC-2003-04-21 (European Economics)
- NEP-IND-2003-04-21 (Industrial Organization)
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