Has New Zealand benefited from its investments in research & development?
AbstractWe use panel data for nine industries to evaluate research and development (R&D) investments in New Zealand over the past forty years. We estimate the impact of R&D stocks in a particular industry on output per person in that industry and on output per person in the rest of the economy. We examine both public and private R&D investments. Privately provided R&D has a statistically significant positive impact on own- industry output per person, suggesting it increases productivity. However, publicly provided R&D has no impact on own-industry output per person. There is also evidence that private R&D in certain industries positively affects output per person in the rest of the economy, i.e. it generates positive spillovers. There is no evidence of positive spillovers from publicly provided R&D.
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Length: 23 pages
Date of creation: 31 Oct 2005
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R&D Spillovers Productivity;
Other versions of this item:
- Robin Johnson & W. A. Razzak & Steven Stillman, 2007. "Has New Zealand benefited from its investments in research & development?," Applied Economics, Taylor and Francis Journals, vol. 39(19), pages 2425-2440.
- Razzak, Weshah & Stillman, Steve & Johnson, Robin, 2005. "Has New Zealand benefited from its investments in research & development?," MPRA Paper 1887, University Library of Munich, Germany.
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
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