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R&D, innovation, and technological progress: a test of the Schumpeterian framework without scale effects

  • Marios Zachariadis

I use U.S. manufacturing industry data to estimate a system of three equations implied by a model of R&D-induced growth in steady state. These equations relate R&D intensity to patenting, patenting to technological progress, and technological progress to economic growth. In each case, I find evidence of positive impact. Thus, I reject the null hypothesis that growth is not induced by R&D in favour of the Schumpeterian endogenous growth framework without scale effects. I also find strong support for technological spillovers from aggregate research intensity to industry-level innovation success.

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Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 36 (2003)
Issue (Month): 3 (August)
Pages: 566-586

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Handle: RePEc:cje:issued:v:36:y:2003:i:3:p:566-586
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