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Boosting Manufacturing Productivity Through R&D: International Comparisons with Special Focus on Italy

  • Alessandro STERLACCHINI

    ()

    (Universita' Politecnica delle Marche, Dipartimento di Management ed Organizzazione Aziendale)

  • Francesco VENTURINI

    ()

    (Universita' Politecnica delle Marche, Dipartimento di Economia)

Using data for twelve manufacturing industries of five developed countries over the period 1980-2002, we perform a dynamic panel estimation - based on a ECM model - of the long-run elasticity of TFP with respect to the stock of R&D capital. The highest elasticity is found for the US (0.51) while lower values arise for Germany (0.29), France (0.23) and Spain (0.22); the latter, in turn, are higher than that estimated for Italy (0.14). The unsatisfactory performance of Italian manufacturing industries is confirmed by further analyses in which a better measurement of TFP is provided and the time period extended. The above findings and their policy implications are discussed firstly in the light of the US-EU divide in terms of R&D-induced productivity growth and, subsequently, by focussing on the Italian case.

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Paper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 306.

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Date of creation: Dec 2007
Handle: RePEc:anc:wpaper:306
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