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Does Research and Development Intensity Enhance Industrial Growth Performance during Economic Downturns? Inter-Industry Evidence from Australia

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  • Sam Hak Kan Tang

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type="main" xml:lang="en"> This article studies the relationship between research and development intensity and growth performance during economic downturns at the industry level. Industries that are more research and development-intensive tend to perform better during downturns than industries that are less research and development-intensive. The panel fixed-effects estimations show that this link is particularly strong among manufacturing industries and is robust to various sensitivity checks. These results are consistent with previous firm-level studies that find innovating firms are much less sensitive to a particular cyclical shock than are non-innovating firms.

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  • Sam Hak Kan Tang, 2015. "Does Research and Development Intensity Enhance Industrial Growth Performance during Economic Downturns? Inter-Industry Evidence from Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 48(3), pages 243-257, September.
    • Handle: RePEc:bla:ausecr:v:48:y:2015:i:3:p:243-257
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