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Impact of R&D on Productivity - Firm-level Evidence from Finland

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Author Info
Jyrki Ali-Yrkkö
Mika Maliranta

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Abstract

ABSTRACT : This study analyses how R&D expenditure impacts the productivity of companies. We analyse the productivity impact of R&D using a large panel dataset of Finnish firms over a nine-year period from 1996 to 2004. Our results are two-fold. In the short run (in 1-2 years) we find no statistically significant productivity impact of R&D. However, R&D does have an economically and statistically significant im-pact when we take into account R&D efforts made 3-5 years before. Hence, a window of almost 5 years is needed to capture the productivity impact of R&D.

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Paper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number 1031.

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Length: 20 pages
Date of creation: 08 Aug 2006
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Handle: RePEc:rif:dpaper:1031

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Related research
Keywords: R&D; research and development; dynamic; productivity; lag; long run;

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Find related papers by JEL classification:
H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Stefan Napel & Mika Widgrén, 2006. "The European Commission – Appointment, Preferences and Institutional Relations," Discussion Papers 6, Aboa Centre for Economics. [Downloadable!]
    Other versions:
  2. Mika Pajarinen & Pekka Ylä-Anttila, 2006. "Omistajuus ja yritysten menestyminen: analyysia suomalaisella aineistolla," Discussion Papers 1007, The Research Institute of the Finnish Economy. [Downloadable!]
  3. Hall, Bronwyn H. & Mairesse, Jacques, 1995. "Exploring the relationship between R&D and productivity in French manufacturing firms," Journal of Econometrics, Elsevier, vol. 65(1), pages 263-293, January. [Downloadable!] (restricted)
    Other versions:
  4. Petri Rouvinen, 2002. "R&D-Productivity Dynamics: Causality, Lags, and "Dry Holes"," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 123-156, May. [Downloadable!]
  5. Ari Hyytinen & Mika Maliranta, 2006. "When Do Employees Leave Their Job for Entrepreneurship: Evidence from Linked Employer-Employee Data," Discussion Papers 1023, The Research Institute of the Finnish Economy. [Downloadable!]
  6. Mika Maliranta, 2005. "R&D, International Trade and Creative Destruction—Empirical Findings from Finnish Manufacturing Industries," Journal of Industry, Competition and Trade, Springer, vol. 5(1), pages 27-58, January. [Downloadable!] (restricted)
  7. Arto Seppä, 2006. "Open Source in Finnish Software Companies," Discussion Papers 1002, The Research Institute of the Finnish Economy. [Downloadable!]
  8. Francesco Daveri & Mika Maliranta, 2006. "Age, Technology and Labour Costs," Discussion Papers 1010, The Research Institute of the Finnish Economy. [Downloadable!]
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  9. Esa Viitamo, 2006. "Markkinoiden toimivuuden arvioiminen - Suuntaviivoja vertailevalle kilpailututkimukselle," Discussion Papers 1021, The Research Institute of the Finnish Economy. [Downloadable!]
  10. Hannu Hernesniemi & Martti Kulvik, 2006. "Helsingin seudun klusterit sekä erikoistuminen bioteknologiaan ja logistiikkaan," Discussion Papers 1013, The Research Institute of the Finnish Economy. [Downloadable!]
  11. Ari Hyytinen & Olli-Pekka Ruuskanen, 2006. "What makes an entrepreneur independent? Evidence from time use survey," Discussion Papers 1029, The Research Institute of the Finnish Economy. [Downloadable!]
  12. Heli Koski & Tobias Kretschmer, 2006. "Innovation and Dominant Design in Mobile Telephone," Discussion Papers 1012, The Research Institute of the Finnish Economy. [Downloadable!]
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  13. Ville Kaitila, 2006. "Productivity, Hours Worked, and Tax/Benefit Systems in Europe and Beyond," Discussion Papers 1015, The Research Institute of the Finnish Economy. [Downloadable!]
  14. Juha Alho & Niku Määttänen, 2006. "Aggregate Mortality Risk and the Insurance Value of Annuities," Discussion Papers 1005, The Research Institute of the Finnish Economy. [Downloadable!]
  15. Morris Teubal & Terttu Luukkonen, 2006. "Venture Capital Industries and Policies: Some Cross-Country Comparisons," Discussion Papers 1006, The Research Institute of the Finnish Economy. [Downloadable!]
  16. Olavi Rantala, 2006. "T&K -panostusten kansantaloudelliset vaikutukset," Discussion Papers 1028, The Research Institute of the Finnish Economy. [Downloadable!]
  17. Terttu Luukkonen, 2006. "Venture Capital Industry in Finland - Country Report for the Venture Fun Project," Discussion Papers 1003, The Research Institute of the Finnish Economy. [Downloadable!]
  18. Laura Valkonen, 2006. "Deregulation as a Means to Increase Competition and Productivity," Discussion Papers 1014, The Research Institute of the Finnish Economy. [Downloadable!]
  19. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August. [Downloadable!] (restricted)
    Other versions:
  20. Olavi Rantala, 2006. "Sosiaalietuuksien rahoituksen hinta- ja hyvinvointivaikutukset kotitaloussektorissa," Discussion Papers 1016, The Research Institute of the Finnish Economy. [Downloadable!]
  21. Richard Blundell & Steve Bond, 1999. "GMM estimation with persistent panel data: an application to production functions," IFS Working Papers W99/04, Institute for Fiscal Studies. [Downloadable!]
    Other versions:
  22. Zvi Griliches & Jacques Mairesse, 1981. "Productivity and R and D at the Firm Level," NBER Working Papers 0826, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  23. Kari Alho, 2006. "Climate Policies and Economic Growth," Discussion Papers 1024, The Research Institute of the Finnish Economy. [Downloadable!]
  24. Maarit Lindström & Mika Pajarinen, 2006. "The Use of Design in Finnish Manufacturing Firms," Discussion Papers 1017, The Research Institute of the Finnish Economy. [Downloadable!]
  25. Derek C. Jones & Panu Kalmi & Mikko Mäkinen, 2006. "The Productivity Effects of Stock Option Schemes: Evidence from Finnish Panel Data," Discussion Papers 1026, The Research Institute of the Finnish Economy. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Kari O. E. Alho & Nuutti Nikula, 2006. "Productivity, Empoyment and Taxes - Evidence on the Potential Trade-offs and Impacts in the EU," Discussion Papers 1054, The Research Institute of the Finnish Economy. [Downloadable!]
  2. Tuomo Nikulainen & Raine Hermans & Martti Kulvik, 2006. "Patent citations indicating present value of the biotechnology business," Discussion Papers 1048, The Research Institute of the Finnish Economy. [Downloadable!]
    Other versions:
  3. Elad Harison & Heli Koski, 2006. "Innovative Software Business Strategies: Evidence from Finnish Firms," Discussion Papers 1042, The Research Institute of the Finnish Economy. [Downloadable!]
  4. Aija Leiponen, 2006. "Competing through cooperation: Standard setting in wireless telecommunications," Discussion Papers 1056, The Research Institute of the Finnish Economy. [Downloadable!]
  5. Mikko Ketokivi, 2006. "When Does Co-location of Manufacturing and R&D Matter?," Discussion Papers 1051, The Research Institute of the Finnish Economy. [Downloadable!]
  6. Alberto Di Minin & Christopher Palmberg, 2006. "A case for non-globalization? The organisation of r&d in the wireless telecommunications industry," Discussion Papers 1047, The Research Institute of the Finnish Economy. [Downloadable!]
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