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Interindustry R&D Spillovers, Rates of Return, and Production in High-Tech Industries

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Abstract

This paper presents estimates of the productivity and factor bias effects of interindustry R&D spillovers for five high-tech industries. Each industry is distinguished as a separate spillover source. The industries are each affected by R&D spillovers and are themselves spillover sources. Thus a spillover network between the industries is estimated. Private and social rates of return to R&D capital are calculated. The private rates of return are generally greater than the returns to physical capital. In addition, the social rates of return are greater than the private rates. The results show that there are significant differences between industries as to their importance as sources of R&D spillovers.
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  • Jeffrey Bernstein & Ishaq Nadiri, 1988. "Interindustry R&D Spillovers, Rates of Return, and Production in High-Tech Industries," Carleton Industrial Organization Research Unit (CIORU) 88-01, Carleton University, Department of Economics.
  • Handle: RePEc:car:ciorup:88-01
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    1. Schankerman, Mark & Nadiri, M. Ishaq, 1986. "A test of static equilibrium models and rates of return to quasi-fixed factors, with an application to the Bell system," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 97-118.
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    5. Richard Levin & Peter C. Reiss, 1984. "Tests of a Schumpeterian Model of R&D and Market Structure," NBER Chapters, in: R&D, Patents, and Productivity, pages 175-208, National Bureau of Economic Research, Inc.
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