Inter-Industry Strategic R&D and Supplier-Demander Relationships
This paper investigates if the R&D of an industry changes due to the R&D of an industry's suppliers and/or demanders. Using an annual industry-level panel of manufacturing R&D in the United States, I find that regressing the R&D of an industry on the lagged values of another industry's R&D suggests R&D comovement between industries with a strong supplier-demander relationship. Variance decompositions indicate that the R&D of an industry has high forecasting power over the R&D variance of another industry if the two industries share a strong supplier-demander relationship. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.
Volume (Year): 95 (2013)
Issue (Month): 2 (May)
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