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The productivity impact of R&D investment: are high-tech sectors still ahead?

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Listed:
  • Raquel Ortega-Argil�s
  • Mariacristina Piva
  • Marco Vivarelli

Abstract

Our aim is to investigate the relationship between a firm's R&D expenditures and its productivity, looking at sectoral peculiarities. We use a unique longitudinal database consisting of 1809 US and European manufacturing and service firms over the period 1990-2008. Our main findings can be summarised as follows. Consistently with previous literature, the knowledge stock has a significant positive impact on a firm's productivity. More interestingly, the coefficient turns out to be significantly larger in the R&D-user services and high-tech manufacturing sectors than in the non-high-tech manufacturing sectors. Contrary to the 'latecomer advantage' approach, these outcomes suggest that firms in high-tech sectors are still ahead in terms of impact on productivity of R&D investments.

Suggested Citation

  • Raquel Ortega-Argil�s & Mariacristina Piva & Marco Vivarelli, 2015. "The productivity impact of R&D investment: are high-tech sectors still ahead?," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 24(3), pages 204-222, April.
    • Handle: RePEc:taf:ecinnt:v:24:y:2015:i:3:p:204-222
    DOI: 10.1080/10438599.2014.918440
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    1. Orietta Marsili, 2001. "The Anatomy and Evolution of Industries," Books, Edward Elgar Publishing, number 2272.
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