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The relationship between R&D, investment and patents: a panel data analysis

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  • Valentina Meliciani

Abstract

This paper estimates the effect of research and investment activities on patents across countries, industries and over time, using Poisson and negative binomial distribution models. The first result of the paper is the recognition of the importance of investment activities in contributing to technical change. The positive role of research expenditures is also confirmed but its elasticity is found to be lower than in previous studies. Important differences across sectors emerge: research expenditures are found to be more effective in generating patents in science based industries, while investment is particularly significant in supplier dominated and production intensive industries. Finally, in most sectors, the estimated R&D and investment coefficients lie outside the confidence intervals calculated around the pooled coefficients.

Suggested Citation

  • Valentina Meliciani, 2000. "The relationship between R&D, investment and patents: a panel data analysis," Applied Economics, Taylor & Francis Journals, vol. 32(11), pages 1429-1437.
  • Handle: RePEc:taf:applec:v:32:y:2000:i:11:p:1429-1437 DOI: 10.1080/00036840050151502
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    Cited by:

    1. Wang, Eric C., 2010. "Determinants of R&D investment: The Extreme-Bounds-Analysis approach applied to 26 OECD countries," Research Policy, Elsevier, pages 103-116.
    2. Kornelius Kraft & Jörg Stank & Ralf Dewenter, 2011. "Co-determination and innovation," Cambridge Journal of Economics, Oxford University Press, pages 145-172.
    3. Schettino, Francesco & Sterlacchini, Alessandro & Venturini, Francesco, 2013. "Inventive productivity and patent quality: Evidence from Italian inventors," Journal of Policy Modeling, Elsevier, pages 1043-1056.
    4. Geraldine Ang & Dirk Röttgers & Pralhad Burli, 2017. "The empirics of enabling investment and innovation in renewable energy," OECD Environment Working Papers 123, OECD Publishing.
    5. Mercedes Gumbau-Albert & Joaquin Maudos, 2009. "Patents, technological inputs and spillovers among regions," Applied Economics, Taylor & Francis Journals, vol. 41(12), pages 1473-1486.
    6. Chen, Ping-Chuan & Hung, Shiu-Wan, 2016. "An actor-network perspective on evaluating the R&D linking efficiency of innovation ecosystems," Technological Forecasting and Social Change, Elsevier, pages 303-312.
    7. Neckermann, Susanne & Cueni, Reto & Frey, Bruno S., 2014. "Awards at work," Labour Economics, Elsevier, pages 205-217.
    8. Dorner, Matthias & Harhoff, Dietmar, 2017. "A novel technology-industry concordance table based on linked inventor-establishment data," FDZ Methodenreport 201707_en, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    9. Lundmark, Robert, 2005. "A comparison of approaches towards measuring technical change: the case of Swedish newsprint production," Forest Policy and Economics, Elsevier, vol. 7(4), pages 563-577, May.
    10. J. Rosell-Martinez & P. Sanchez-Sellero, 2012. "Foreign direct investment and technical progress in Spanish manufacturing," Applied Economics, Taylor & Francis Journals, vol. 44(19), pages 2473-2489, July.
    11. Jérôme Danguy & Gaetan de Rassenfosse & Bruno van Pottelsberghe de la Potterie, 2014. "On the origins of the worldwide surge in patenting: an industry perspective on the R&D–patent relationship," Industrial and Corporate Change, Oxford University Press, pages 535-572.
    12. Victor Ginsburgh & Olivier Gergaud & F. Livat, "undated". "Succes :Talent, Intelligence or Beauty?," ULB Institutional Repository 2013/151568, ULB -- Universite Libre de Bruxelles.
    13. Powdthavee, Nattavudh & Lekfuangfu, Warn N. & Wooden, Mark, 2013. "The Marginal Income Effect of Education on Happiness: Estimating the Direct and Indirect Effects of Compulsory Schooling on Well-Being in Australia," IZA Discussion Papers 7365, Institute for the Study of Labor (IZA).
    14. Gaétan de Rassenfosse & Anja Schoen & Annelies Wastyn, 2013. "Selection Bias in Innovation Studies. A Simple Test," Melbourne Institute Working Paper Series wp2013n08, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    15. Jérôme Danguy & Gaétan de Rassenfosse & Bruno Van Pottelsberghe, 2010. "The R&D‐Patent relationship: An Industry Perspective," Working Papers ECARES ECARES 2010-038, ULB -- Universite Libre de Bruxelles.
    16. Hulya Ulku, 2007. "R&D, innovation, and growth: evidence from four manufacturing sectors in OECD countries," Oxford Economic Papers, Oxford University Press, vol. 59(3), pages 513-535, July.
    17. Chowdhury, Reza H. & Maung, Min, 2012. "Financial market development and the effectiveness of R&D investment: Evidence from developed and emerging countries," Research in International Business and Finance, Elsevier, pages 258-272.
    18. Wang, Eric C. & Huang, Weichiao, 2007. "Relative efficiency of R&D activities: A cross-country study accounting for environmental factors in the DEA approach," Research Policy, Elsevier, pages 260-273.
    19. de Rassenfosse, Gaétan & Schoen, Anja & Wastyn, Annelies, 2014. "Selection bias in innovation studies: A simple test," Technological Forecasting and Social Change, Elsevier, pages 287-299.
    20. Wang, Eric C., 2007. "R&D efficiency and economic performance: A cross-country analysis using the stochastic frontier approach," Journal of Policy Modeling, Elsevier, pages 345-360.

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