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Rates of Return on New Zealand R&D

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  • Johnson, Robin

Abstract

This paper reports on a survey of past trends in national and sectoral R&D expenditure in New Zealand back to 1962 and models used to measure the rate of return to investment in R&D. Cobb Douglas models are compared with productivity models and are used to explore the interaction between R&D and labour and capital variables. Polynomial distributed lag models are investigated and the results compared with stock models. The average rates of return to R&D investment vary across sectors of the economy - some being surprisingly high - but some results remain ambiguous to interpret.

Suggested Citation

  • Johnson, Robin, 2000. "Rates of Return on New Zealand R&D," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 171916, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare00:171916
    DOI: 10.22004/ag.econ.171916
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    References listed on IDEAS

    as
    1. Zvi Griliches, 1998. "Issues in Assessing the Contribution of Research and Development to Productivity Growth," NBER Chapters, in: R&D and Productivity: The Econometric Evidence, pages 17-45, National Bureau of Economic Research, Inc.
    2. Coe, David T. & Helpman, Elhanan, 1995. "International R&D spillovers," European Economic Review, Elsevier, vol. 39(5), pages 859-887, May.
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