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Measuring the Returns to R&D

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  • Bronwyn H. Hall
  • Jacques Mairesse
  • Pierre Mohnen

Abstract

We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with a presentation of R&D spillover returns measurement. In general, the private returns to R&D are strongly positive and somewhat higher than those for ordinary capital, while the social returns are even higher, although variable and imprecisely measured in many cases.
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  • Bronwyn H. Hall & Jacques Mairesse & Pierre Mohnen, 2010. "Measuring the Returns to R&D," CIRANO Working Papers 2010s-02, CIRANO.
  • Handle: RePEc:cir:cirwor:2010s-02
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    More about this item

    Keywords

    returns to R&D; innovation; social returns; spillovers; rendements de la R&D; innovation; rendements sociaux; externalités;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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